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Invest Atlanta - Beltline Mortgage Assistance Program

Atlanta, Georgia

Last verified
See what you qualify forOfficial program site →
Assistance

$20,000

The maximum the program publishes — not an offer

Income limit

140% AMI

Of area median income; varies by county and household size

Repayment

Forgivable

Forgiven after 15 years

What is Invest Atlanta - Beltline Mortgage Assistance Program?

Invest Atlanta - Beltline Mortgage Assistance Program is a forgivable loan for homebuyers in Atlanta, Georgia.

  • The Beltline Mortgage Assistance Program provides up to $30,000 in mortgage assistance for civil servants and legacy residents, or up to $20,000 for other qualified buyers, purchasing within Beltline Tax Allocation District subareas 1, 2, 3, 8, 9 and 10. Funds may be used toward the down payment, closing costs, a permanent interest rate reduction, or any combination, and are provided as a 0% soft second mortgage with a 15-year affordability period.
  • Up to $30,000 for civil servants and legacy residents.
  • Up to $20,000 for other qualified buyers.
  • Funds may be used toward the down payment, closing costs, a permanent interest rate reduction, or any combination.
  • Provided as a 0% soft second mortgage with a 15-year affordability period.
  • No maximum purchase price.
  • Funding comes from Local Government.

How much assistance does it provide?

Invest Atlanta - Beltline Mortgage Assistance Program offers between $20,000 and $30,000 in assistance, depending on the award tier a buyer qualifies under.

  • Award tier “Civil servants and legacy residents” — up to $30,000. Who qualifies: Civil servants and legacy residents purchasing within Beltline Tax Allocation District subareas 1, 2, 3, 8, 9 and 10.
  • Award tier “Other qualified buyers” — up to $20,000. Who qualifies: Other qualified buyers purchasing within Beltline Tax Allocation District subareas 1, 2, 3, 8, 9 and 10.
  • 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 - Beltline Mortgage Assistance Program is forgiven after 15 years, so a buyer who stays that long does not repay it.

  • 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?

Invest Atlanta - Beltline Mortgage Assistance Program 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
  • A minimum 620 credit score
  • A completed homebuyer education course
  • Home must be purchased within the Beltline Tax Allocation District (TAD) subareas 1, 2, 3, 8, 9 and 10
  • Must qualify for a 30-year fixed-rate FHA, VA or conventional mortgage loan with an Invest Atlanta participating lender
  • Minimum FICO credit score is 620, with a debt-to-income ratio per automated underwriting approval
  • Homebuyers may not have more than $35,000 in liquid assets
  • Maximum loan limit is $400,000 and maximum CLTV is 105%; there is no maximum purchase price
  • 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
  • Households above 140% 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 - Beltline Mortgage Assistance Program limits household income to 140% 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. 140% AMI — 1 person: $115,500; 2 persons: $132,020; 3 persons: $148,540; 4 persons: $164,920; 5 persons: $178,220.
  • 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 - Beltline Mortgage Assistance Program can be used for 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 - Beltline Mortgage Assistance Program serves buyers purchasing in Atlanta, Georgia.

How do you apply?

Applications for Invest Atlanta - Beltline Mortgage Assistance 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 before funds are reserved.

  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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