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Invest Atlanta - ATL Home Renovation Advantage

Atlanta, Georgia

Last verified
See what you qualify forOfficial program site →
Assistance

$10,000

The maximum the program publishes — not an offer

Income limit

120% AMI

Of area median income; varies by county and household size

Price cap

$450,000

Highest purchase price the program allows

Repayment

Forgivable

Forgiven after 5 years

What is Invest Atlanta - ATL Home Renovation Advantage?

Invest Atlanta - ATL Home Renovation Advantage is a forgivable loan for homebuyers in Atlanta, Georgia.

  • ATL Home Renovation Advantage provides $10,000 toward the down payment and/or closing costs for homebuyers who qualify for and use a home renovation mortgage loan in the City of Atlanta. The loan is fully forgiven after living in the home for 5 years.
  • $10,000 toward the down payment and/or closing costs.
  • Fully forgiven after living in the home for 5 years.
  • Paired with a 30-year fixed-rate FHA, VA or conventional mortgage loan.
  • Maximum purchase price is $450,000.
  • Funding comes from Local Government.

How much assistance does it provide?

Invest Atlanta - ATL Home Renovation Advantage offers up to $10,000 in assistance.

  • The program asks buyers to contribute $1,500 of their own funds; items purchased outside of closing count toward this requirement.
  • 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?

Invest Atlanta - ATL Home Renovation Advantage is forgiven after 5 years, so a buyer who stays that long does not repay it.

  • Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

Invest Atlanta - ATL Home Renovation Advantage is open to buyers who will live in the home as their primary residence.

The program requires

  • The home is occupied as a primary residence
  • On credit: The minimum credit score requirement is determined by each participating lender.
  • A completed homebuyer education course, through Resources for Residents & Communities and Committed to Communities
  • Must qualify for a 30-year fixed-rate FHA, VA or conventional mortgage loan with an Invest Atlanta participating lender
  • The minimum credit score requirement is determined by each participating lender
  • Must attend a special renovation education class by Resources for Residents & Communities or Committed to Communities
  • Homebuyers cannot exceed $35,000 in liquid assets
  • Program fee of $1,200, to cover the cost of education
  • Participants must contribute $1,500 of their own funds; items purchased outside of closing count toward this requirement
  • Participants cannot own interest in any other property
  • The property must be owner-occupied and cannot be manufactured
  • Existing properties must pass inspection prior to closing

The program excludes

  • Manufactured homes
  • Purchases above the $450,000 price cap
  • Households above 120% 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?

Invest Atlanta - ATL Home Renovation Advantage limits household income to 120% of the area median income, which varies by county and household size.

  • 120% AMI. 1 person: $99,000; 2 persons: $113,160; 3 persons: $127,320; 4 persons: $141,360; 5 persons: $152,760.
  • 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?

Invest Atlanta - ATL Home Renovation Advantage caps the purchase price at $450,000.

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

Where does it apply?

Invest Atlanta - ATL Home Renovation Advantage serves buyers purchasing in Atlanta, Georgia.

How do you apply?

Applications for Invest Atlanta - ATL Home Renovation Advantage 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 Resources for Residents & Communities and Committed to Communities.

  2. Contact the administering agency to reserve funds

    Funds are reserved with the provider 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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