I just attended a seminar hosted by the DeKalb Association of Realtors in partnership with Georgia Department of Community Affairs. As a realtor, it is my job to stay abreast of all of the changes in the housing industry and the financing available to potential home buyers. This seminar reminded me of a great program, Georgia Dream, that has served the homebuying community well for many years.
In addition to the traditional homebuyer first mortgage loan, Georgia Dream offers a special prgram for Protectors (firefighters, police officers, etc.) Educators (teachers, administrators, etc.) and Nurses. For individuals in these professions, there is a $7,500 down payment assistance program that can be used to purchase a home. There are several steps that the buyer has to go through – including completing a homebuyer education class and using an approved lender.
There are considerable funds available for first time homebuyers. Georgia Dream offers down payment assistance, the U.S. government is offering a homebuyer tax credit, and many of the Metro Atlanta counties are also offering various down payment assistance programs. Now is the time to find out what is available and get in the game!
By the way, Georgia Dream is not limited to Protectors, Educators, and Nurses; there are funds available for others – usually $5,000. Ask for details regarding income and sales price limits.