Perry Bolton Mortgage Assistance Program

Perry Bolton Mortgage Assistance Program is a forgivable loan for homebuyers in Atlanta, Georgia. The Perry Bolton Mortgage Assistance Program uses Perry Bolton Tax Allocation District (TAD) tax-increment funds to offer down payment and closing-cost assistance for homebuyers purchasing within the Perry Bolton TAD in northwest Atlanta. Buyers at or below 80% AMI purchasing homes deemed permanently affordable can receive up to $20,000; buyers up to 120% AMI purchasing market-rate homes within the TAD can receive $10,000. Assistance is a 0% soft second mortgage fully forgiven after 5 years of owner-occupancy. Workforce-focused and intended to support redevelopment of the former Perry Homes / Bolton Road area. Tiered DPA in the Perry Bolton Tax Allocation District (NW Atlanta): $20,000 for buyers at or below 80% AMI purchasing permanently affordable homes, or $10,000 for buyers up to 120% AMI purchasing market-rate homes inside the TAD. Structured as a 0% soft second mortgage fully forgiven after 5 years of owner-occupancy. Funding comes from Perry Bolton TAD (Tax Allocation District) tax-increment funds.

Perry Bolton Mortgage Assistance Program is forgiven after 5 years, so a homebuyer who stays that long does not repay it. Repayment is triggered by Sale, transfer, refinance (cash-out), or loss of owner-occupancy within the 5-year affordability period. The assistance is recorded in Subordinate (2nd lien) position. Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Perry Bolton Mortgage Assistance Program is open to homebuyers who will live in the home as their primary residence. On credit, the program states: Set by participating lender (typically 620-660 minimum). A homebuyer education course is required, through Invest Atlanta-approved HUD-certified homebuyer-education providers. Residency requirement: Property must be inside the Perry Bolton Tax Allocation District (NW Atlanta) and occupied as primary residence. Property must be located within the Perry Bolton Tax Allocation District in northwest Atlanta. Maximum purchase price $300,000. $25,000 liquid-asset cap. Must contribute $1,500 of own funds. $1,000 program fee. Owner-occupied primary residence; cannot own other property at closing. Must qualify for a 30-year fixed FHA, VA, or conventional first mortgage with an Invest Atlanta participating lender. Must complete homebuyer education. 5-year affordability covenant.

Perry Bolton Mortgage Assistance Program limits household income to $148,080. 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.

Perry Bolton Mortgage Assistance Program caps the purchase price at $300,000. Eligible property types include Single-Family, 2-4 Unit, Townhome, and Condo. New construction is eligible. Manufactured homes are not eligible.

Perry Bolton Mortgage Assistance Program serves homebuyers purchasing in Atlanta, Georgia. The program targets specific areas: Perry Bolton Tax Allocation District (TAD) — northwest Atlanta neighborhoods including the former Perry Homes / Bolton Road redevelopment area, established by the City of Atlanta in 2002.

Applications for Perry Bolton Mortgage Assistance Program go through the administering agency, which publishes the current terms and the application steps on its own site. Funds are reserved through Reservations made by participating lender through eHousingPlus once buyer is under contract. 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.