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Georgia Dream Homeownership Program

Georgia

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See what you qualify forOfficial program site →
Assistance

$10,000

The maximum the program publishes — not an offer

Income limit

80% AMI

Of area median income; varies by county and household size

Price cap

$425,000

Highest purchase price the program allows

Repayment

Deferred

No payments until the home is sold or refinanced

What is Georgia Dream Homeownership Program?

Georgia Dream Homeownership Program is a deferred second loan for homebuyers in Georgia.

  • The Georgia Dream Homeownership Program (administered by GA DCA) provides 0% interest deferred second mortgage loans of up to $10,000 in down payment and closing cost assistance to eligible first-time homebuyers statewide. Repayment is deferred until sale, refinance, or departure from the home. Income limits (effective 7/1/2025): $130,290 (1-2 persons), $149,833 (3+ persons). Max sales price: $425,000 (standard) or MSA/county maximums. Minimum credit score: 640. Homebuyer education from a HUD-approved agency required.
  • Down payment and closing cost assistance as a 0% interest deferred second mortgage with no monthly payments.
  • Up to $10,000 (or 5% of purchase price, whichever is less).
  • 30-year fixed rate first mortgage.
  • No prepayment penalty.
  • No discount points or uncommon fees allowed.
  • Rate locked for 75 days.
  • DPA loan due only upon sale, refinance, or when borrower no longer occupies as primary residence.
  • Homebuyer education from a HUD-approved agency required.
  • Works with FHA, VA, USDA, and Conventional first mortgages.
  • Available statewide in Georgia.
  • Funding comes from State.

How much assistance does it provide?

Georgia Dream Homeownership Program offers up to $10,000 in assistance.

  • Award tier “Standard” — up to $10,000. Who qualifies: All eligible borrowers who meet program requirements.
  • Award tier “PEN” — up to $12,500. Who qualifies: Public protectors, educators, healthcare workers, and active military/veterans.
  • Award tier “Choice” — up to $12,500. Who qualifies: Households with a family member who has a disability.
  • The program asks buyers to contribute $1,000.
  • The program can be combined with other assistance, subject to the rules of each.
  • Amounts are the program's published maximums, not an offer — the administering agency determines any individual award.

Do you have to pay it back?

Georgia Dream Homeownership Program is deferred, so no payments are due until the home is sold, refinanced, or the first mortgage is paid off.

  • Repayment is triggered by Transfer of Title, Sale, Refinance, and No Longer Primary.
  • The assistance is recorded in 2nd Lien position.
  • Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

Georgia Dream Homeownership Program is open to first-time homebuyers and buyers who will live in the home as their primary residence.

The program requires

  • First-time homebuyer — with exceptions: No ownership in the past 3 years (exceptions for displaced homemakers/single parents)
  • The home is occupied as a primary residence
  • A minimum 640 credit score
  • A completed homebuyer education course, through HUD-approved Housing Counseling Agencies (list available on DCA website and HUD website). Online option: eHomeAmerica at http://www.ehomeamerica.org/dca ($50-$100 fee)
  • Residency: State Resident
  • Citizenship or immigration status: U.S. Citizen or Permanent Resident
  • Must complete HUD-approved homebuyer education course; Liquid assets limited to $20,000 or 20% of sales price (whichever is greater) at closing; First-time homebuyer or have not owned a home in past 3 years, or purchasing in a targeted area; Must not own other real estate at closing

The program excludes

  • Purchases above the $425,000 price cap
  • Households above 80% of area median income

These are the program's own published rules, not a decision about any individual — the administering agency and a lender determine who actually qualifies.

What are the income limits?

Georgia Dream Homeownership Program limits household income to 80% of the area median income, which varies by county and household size.

  • Effective 7/1/2025: 1-2 persons $130,290; 3+ persons $149,833 (statewide, per GA DCA).
  • The limit applies to total household income, not only the borrower’s.
  • Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

What kind of home can it be used for?

Georgia Dream Homeownership Program caps the purchase price at $425,000.

  • Eligible property types include Single Family, Condo, Townhouse, 2-4 Unit, and New Construction.
  • New construction is eligible.

Where does it apply?

Georgia Dream Homeownership Program serves buyers purchasing anywhere in Georgia.

  • The program targets specific areas: Census tracts designated as targeted areas allow non-first-time homebuyers to qualify and may have higher income/purchase price limits.

How do you apply?

Applications for Georgia Dream Homeownership Program go through the administering agency, which publishes the current terms and the application steps on its own site.

  1. Take a homebuyer education course

    Required by the program, through HUD-approved Housing Counseling Agencies (list available on DCA website and HUD website). Online option: eHomeAmerica at http://www.ehomeamerica.org/dca ($50-$100 fee).

  2. Contact the administering agency to reserve funds

    Funds are reserved through First-Come-First-Served, and are subject to availability.

  3. Work with a lender who handles the program

    Hey Prescott is not a lender and does not accept applications; this page describes the program so a buyer can take it to a lender or housing counselor.

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