Gwinnett County Homestretch Program

Gwinnett County Homestretch Program is a forgivable loan for homebuyers in Gwinnett County, Georgia. The Gwinnett County Homestretch Down Payment Assistance Program provides up to $10,000 in forgivable loan assistance to eligible first-time homebuyers purchasing a home in Gwinnett County. The loan carries 0% interest with no monthly payments; the principal is reduced by 20% each year beginning on the first anniversary of the security deed, and the lien is fully canceled after 5 years provided the home remains the buyer's primary residence. Assistance may be used for down payment, closing costs, prepaid items, HOA fees, and courier fees. The program is funded through federal HOME Investment Partnerships Program funds and administered by Gwinnett County Community Development. $10,000 forgivable loan at 0% interest — no monthly payments required. principal reduced by 20% annually, fully canceled after 5 years if home remains primary residence. may be used for down payment, closing costs, prepaid items, courier fees, and HOA fees. front-end DTI ≤43%, back-end DTI ≤55%. 8-hour HUD-approved homebuyer education required. borrower contribution of lesser of 1% of purchase price or $1,000. funded through federal HOME Investment Partnerships Program. compatible with FHA, VA, USDA, and Conventional loan products. Funding comes from Local Government.

Gwinnett County Homestretch Program offers up to $10,000 in assistance. Homebuyer contribution: Lesser of 1% of purchase price or $1,000 toward down payment or closing costs. 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.

Gwinnett County Homestretch Program is forgiven after 5 years, so a homebuyer who stays that long does not repay it. Repayment is triggered by Sale, Refinance, No Longer Primary, and Transfer of Title. 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.

Gwinnett County Homestretch Program is open to first-time homebuyers and homebuyers who will live in the home as their primary residence. "First-time" has exceptions here: No homeownership in past 3 years. The program lists a minimum credit score of 640. A homebuyer education course is required. Residency requirement: County Resident. Citizenship or immigration status: U.S. Citizen or Permanent Resident. Low-to-moderate income buyers.

Gwinnett County Homestretch Program limits household income to 80% of the area median income, which varies by county and household size. 80% AMI. FY2025 limits: 1-person $63,980; 2-person $73,120; 3-person $82,240; 4-person $91,360; 5-person $98,680; 6-person $106,000; 7-person $113,320; 8-person $120,600. 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.

Gwinnett County Homestretch Program caps the purchase price at $349,000. Eligible property types include Single Family, Townhouse, and New Construction. New construction is eligible.

Gwinnett County Homestretch Program serves homebuyers purchasing in Gwinnett County, Georgia.

Applications for Gwinnett County Homestretch Program go through the administering agency, which publishes the current terms and the application steps on its own site. Funds are reserved through First-Come-First-Served. Hey Prescott is not a lender and does not accept applications; this page describes the program so a homebuyer can take it to a lender or housing counselor.