Perry Bolton Mortgage Assistance Program

What is 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.

Do you have to pay it back?

Perry Bolton Mortgage Assistance Program is forgiven after 5 years, so a buyer 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.

Who qualifies?

Perry Bolton Mortgage Assistance Program is open to buyers who will live in the home as their primary residence.

What are the income limits?

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.

What kind of home can it be used for?

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.

Where does it apply?

Perry Bolton Mortgage Assistance Program serves buyers 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.

How do you apply?

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.

1. 1

   Take a homebuyer education course

   Required by the program, through Invest Atlanta-approved HUD-certified homebuyer-education providers.

2. 2

   Contact the administering agency to reserve funds

   Funds are reserved through Reservations made by participating lender through eHousingPlus once buyer is under contract, 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.