Macon Mortgage Assistance Program

What is Macon Mortgage Assistance Program?

Macon Mortgage Assistance Program is a forgivable loan for homebuyers in Macon, Georgia.

• The Macon Mortgage Assistance Program provides up to $25,000 in forgivable loan assistance for down payment and closing costs to eligible first-time homebuyers purchasing in the City of Macon. Administered by the City of Macon-Bibb County Economic & Community Development Department.
• $25,000 forgivable second mortgage for down payment and closing costs.
• fully forgiven after 5 years of residence as primary home.
• no monthly payments on DPA loan.
• compatible with FHA, VA, and Conventional first mortgages.
• administered by City of Macon-Bibb County Economic & Community Development.
• Funding comes from Local Government.

How much assistance does it provide?

Macon Mortgage Assistance Program offers up to $25,000 in assistance.

• 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?

Macon Mortgage Assistance Program is forgiven after 5 years, so a buyer 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.

Who qualifies?

Macon Mortgage Assistance Program is open to first-time homebuyers and buyers who will live in the home as their primary residence.

What are the income limits?

Macon Mortgage Assistance Program limits household income to 80% of the area median income, which varies by county and household size.

• 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?

Macon Mortgage Assistance Program caps the purchase price at $385,000.

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

Where does it apply?

Macon Mortgage Assistance Program serves buyers purchasing in Macon, Georgia.

How do you apply?

Applications for Macon Mortgage Assistance Program 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 before funds are reserved.

2. 2

   Contact the administering agency to reserve funds

   Funds are reserved through First-Come-First-Served, 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.