Peach Plus Loan Program (Standard)

Peach Plus Loan Program (Standard) is a deferred second loan for homebuyers in Statewide, Georgia. The Peach Plus Standard option is the open-to-all tier of DCA's Peach Plus Loan Program. Available since April 15, 2024, it provides a 0% interest deferred second mortgage of 3.5% of the purchase price up to $10,000, 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 3.5% of the purchase price up to a maximum of $10,000. Bundled with a Peach Plus FHA or VA 30-year fixed-rate first mortgage. DPA is non-amortizing, no monthly payment, due in full upon sale, transfer, refinance, payoff, or non-occupancy. Non-bond TBA execution. no IRS recapture. Funding comes from State and TBA.

Peach Plus Loan Program (Standard) provides assistance worth 3.5% of the purchase price, as set by the program. Homebuyer contribution: Per FHA/VA product minimums. Amounts are the program's published maximums, not an offer — the administering agency determines any individual award.

Peach Plus Loan Program (Standard) 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.

Peach Plus Loan Program (Standard) is open to homebuyers who will live in the home as their primary residence. On credit, the program states: 640 minimum FICO; DTI per AUS. A homebuyer education course is required, through DCA-approved Homebuyer Education / HUD-approved housing counseling agencies. Residency requirement: Property must be located in Georgia and be the borrower's primary residence. Citizenship or immigration status: U.S. citizen or qualified permanent/non-permanent resident alien. Household income up to 150% AMI per Fannie Mae/Freddie Mac AMI Lookup Tools. Not restricted to first-time homebuyers. Must qualify for a Peach Plus FHA or VA first mortgage. HUD-approved homebuyer education required.

Peach Plus Loan Program (Standard) 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.

Peach Plus Loan Program (Standard) 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.

Peach Plus Loan Program (Standard) serves homebuyers purchasing in Statewide, Georgia.

Applications for Peach Plus Loan Program (Standard) go through the administering agency, which publishes the current terms and the application steps on its own site. Funds are reserved through Reserved by Peach Plus Participating Lender via DCA's online lender portal at time of first-mortgage reservation. Hey Prescott is not a lender and does not accept applications; this page describes the program so a homebuyer can take it to a lender or housing counselor.