Peach Plus Loan Program (PEN)

What is Peach Plus Loan Program (PEN)?

Peach Plus Loan Program (PEN) is a deferred second loan for homebuyers in Statewide, Georgia.

• The Peach Plus PEN (Protectors, Educators & Nurses) option is the workforce tier of DCA's Peach Plus Loan Program. Available since April 15, 2024, it provides a 0% interest deferred second mortgage of 4% of the purchase price up to $12,500 to qualifying public protectors, educators, healthcare workers, and active-duty military, paired with a Peach Plus FHA or VA first mortgage. Income up to 150% AMI; not restricted to first-time homebuyers. Non-bond TBA execution - no IRS recapture.
• 0% interest deferred second mortgage of 4% of the purchase price up to a maximum of $12,500 for borrowers employed as public protectors (police, sheriff, corrections, firefighters, EMTs), educators (K-12 teachers and staff), or healthcare workers (nurses and other licensed providers), as well as active-duty military. Bundled with a Peach Plus FHA or VA 30-year fixed first mortgage. Non-bond TBA execution.
• no IRS recapture.
• Funding comes from State and TBA.

How much assistance does it provide?

Peach Plus Loan Program (PEN) provides assistance worth 4% of the purchase price, as set by the program.

• Buyer contribution: Per FHA/VA product minimums.
• Amounts are the program's published maximums, not an offer — the administering agency determines any individual award.

Do you have to pay it back?

Peach Plus Loan Program (PEN) is deferred, so no payments are due until the home is sold, refinanced, or the first mortgage is paid off.

• Repayment is triggered by Sale, transfer, refinance, payoff of first mortgage, or when property ceases to be borrower's primary residence.
• 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?

Peach Plus Loan Program (PEN) is open to buyers who will live in the home as their primary residence.

What are the income limits?

Peach Plus Loan Program (PEN) limits household income to 150% of the area median income, which varies by county and household size.

• Up to 150% of Area Median Income per Fannie Mae and Freddie Mac AMI Lookup Tools by property census tract. Atlanta MSA AMI is approximately $112,400 (4-person 100%); 150% AMI threshold approaches $168,600 - $224,750 depending on property location.
• 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?

Peach Plus Loan Program (PEN) caps the purchase price at $650,000.

• Eligible property types include Single-family detached, townhouse, condo (FHA/VA-approved), 2-4 unit owner-occupied (FHA only), planned unit development.
• New construction is eligible.
• Manufactured homes are eligible.

Is there eligibility for specific groups?

Peach Plus Loan Program (PEN) names active-duty service members, educators, law enforcement officers, firefighters, and healthcare workers among the groups it serves.

• Being named here means the program mentions the group, not that membership alone qualifies an applicant — the rest of the eligibility rules still apply.

Where does it apply?

Peach Plus Loan Program (PEN) serves buyers purchasing in Statewide, Georgia.

How do you apply?

Applications for Peach Plus Loan Program (PEN) 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 DCA-approved Homebuyer Education / HUD-approved housing counseling agencies.

2. 2

   Contact the administering agency to reserve funds

   Funds are reserved through Reserved by Peach Plus Participating Lender via DCA's online lender portal at time of first-mortgage reservation, 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.