Peach Select VA Loan Program

What is Peach Select VA Loan Program?

Peach Select VA Loan Program is a deferred second loan for homebuyers in Statewide, Georgia.

• Launched March 15, 2024, the Peach Select VA Loan Program is DCA's VA-only first-mortgage product offering eligible veterans and military borrowers a competitive DCA-set fixed interest rate (5.00% initial, updated weekly). It is NOT bundled with a DCA second-mortgage DPA - the benefit is the below-market interest rate combined with VA's 100% LTV no-down-payment structure. Borrowers needing additional DPA should use Georgia Dream VA (with Standard/PEN/CHOICE second) or Peach Plus VA instead. Veterans and qualified survivors waive the first-time-homebuyer restriction under the federal Heroes Earnings Assistance and Relief Tax Act.
• VA-only first mortgage product offering a low DCA-set fixed interest rate (initial rate 5.00% at launch.
• updated weekly by DCA) for eligible veterans, active-duty military, reservists, and surviving spouses. 100% LTV financing with $500 minimum borrower investment. NOTE: The Peach Select VA Loan Program does NOT include a separate down payment assistance second mortgage - the program's value is the below-market interest rate. Borrowers seeking VA + DPA should use Georgia Dream VA or Peach Plus VA instead.
• Funding comes from State and Bond.

Do you have to pay it back?

Peach Select VA Loan Program is deferred, so no payments are due until the home is sold, refinanced, or the first mortgage is paid off.

• Repayment is triggered by N/A - no separate DPA second mortgage and first-mortgage VA loan repaid per standard VA amortization.
• The assistance is recorded in 1st 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 Select VA Loan Program is open to buyers who will live in the home as their primary residence.

What are the income limits?

Peach Select VA Loan Program limits household income to $149,833.

• 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 Select VA Loan Program caps the purchase price at $550,000.

• Eligible property types include Single-family detached, townhouse, condo (VA-approved), 1-4 unit owner-occupied, planned unit development.
• New construction is eligible.
• Manufactured homes are eligible.

Is there eligibility for specific groups?

Peach Select VA Loan Program names veterans, active-duty service members, reservists and National Guard members, and surviving spouses 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 Select VA Loan Program serves buyers purchasing in Statewide, Georgia.

• The program targets specific areas: Federally designated targeted areas (per IRC Section 143) in Georgia have higher income/sales price limits and waive the first-time-homebuyer requirement.

How do you apply?

Applications for Peach Select VA Loan 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, 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 Select VA Participating Lender via DCA's online lender portal, 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.