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.

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.

Peach Select VA Loan Program is open to homebuyers who will live in the home as their primary residence. On credit, the program states: 640 minimum FICO; max DTI determined by 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: Per VA eligibility (U.S. citizen, lawful permanent resident, or non-citizen national). Borrower must be eligible for and obtain a VA-guaranteed first mortgage (VA Certificate of Eligibility required). Open to active-duty military, veterans, qualifying reservists/National Guard, and surviving spouses of veterans per VA eligibility rules. Minimum $500 borrower investment. Maximum 100% LTV. Pre-purchase homebuyer education required. Must qualify under Georgia Dream income/sales price tiers (same as Georgia Dream Standard).

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.

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.

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.

Peach Select VA Loan Program serves homebuyers 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.

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. Funds are reserved through Reserved by Peach Select VA Participating Lender via DCA's online lender portal. 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.