Intown Mortgage Assistance Program (IMAP)

What is Intown Mortgage Assistance Program (IMAP)?

Intown Mortgage Assistance Program (IMAP) is a forgivable loan for homebuyers in Atlanta, Georgia.

• The Intown Mortgage Assistance Program (IMAP) is an Invest Atlanta homebuyer incentive that provides up to $10,000 in down payment, closing-cost, or permanent interest-rate buydown assistance to buyers purchasing a home within the City of Atlanta. The assistance is delivered as a 0% interest soft second mortgage fully forgiven after the buyer lives in the property as their primary residence for 5 years. IMAP pairs with a 30-year fixed-rate FHA, VA, or conventional first mortgage from an Invest Atlanta participating lender and is intended for in-town moderate-income buyers.
• Up to $10,000 in down payment, closing-cost or interest-rate buydown assistance paired with a 30-year fixed FHA, VA, or conventional first mortgage from an Invest Atlanta participating lender. Structured as a 0% soft second mortgage fully forgiven after 5 years of owner-occupancy.
• Funding comes from Invest Atlanta / Urban Residential Finance Authority bond proceeds and program income.

Do you have to pay it back?

Intown Mortgage Assistance Program (IMAP) is forgiven after 5 years, so a buyer who stays that long does not repay it.

• Repayment is triggered by Sale, transfer, refinance (cash-out), or loss of owner-occupancy within the 5-year affordability period.
• The assistance is recorded in Subordinate (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?

Intown Mortgage Assistance Program (IMAP) is open to buyers who will live in the home as their primary residence.

What are the income limits?

Intown Mortgage Assistance Program (IMAP) limits household income to $139,320.

• 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?

Intown Mortgage Assistance Program (IMAP) caps the purchase price at $385,000.

• Eligible property types include Single-Family, Townhome, Condo, and 2-4 Unit.
• New construction is eligible.
• Manufactured homes are not eligible.

Where does it apply?

Intown Mortgage Assistance Program (IMAP) serves buyers purchasing in Atlanta, Georgia.

• The program targets specific areas: Properties must be within the city limits of Atlanta.

How do you apply?

Applications for Intown Mortgage Assistance Program (IMAP) go through the administering agency, which publishes the current terms and the application steps on its own site.

1. 1

   Take a homebuyer education course

   Required by the program, through Invest Atlanta-approved homebuyer education providers (HUD-approved counseling agencies).

2. 2

   Contact the administering agency to reserve funds

   Funds are reserved through Reservations made by participating lender through eHousingPlus once buyer is under contract, and are subject to availability.

3. 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.