Down Payment Assistance - Georgia
Down Payment Assistance Options for Georgia
Georgia Dream Homeownership
Georgia makes homeownership more accessible for first-time homebuyers with the Georgia Dream Homeownership Programs! Under this, qualified borrowers can afford the down payment and closing costs though various products under its banner.
Click here for products under the program.
Requirements:
- First-time homebuyers or applicants who have not owned a home in the past 3 years
- Maximum household income per state limits
- Have liquid assets more than $20,000 or 20% of sales price upon closing, whichever is greater
- Meets mortgage loan credit requirements
Peach Advantage Program
Part of the Georgia Dream suite of products, the Peach Advantage program lets borrowers receive up to 5% assistance for down payment and closing costs at a competitive rate.
Requirements:
- Minimum FICO score of 640 (660 for manufactured homes)
- DTI ratio of 45% for FICO of 640-699
- Have a household income up to 150% of the Area Median Income
- Meet mortgage loan credit requirements
Peach Plus Program
The Peach Plus under the Georgia Dream Program expands accessibility to homeownership opportunities across the state.
Click here for products under the program.
Requirements:
- Expanded household income limitations apply
- Have liquid assets of no more than $20,000 or 20% of the sales price, whichever is greater
- Meet minimum credit requirements
- Available for repeat homebuyers
Products under the Georgia Dream Program
Standard
- 5% of purchase price or $10,000 (whichever is lesser)
- Available for all homebuyers
Protectors, Educators, & Nurses (PEN)
- 6% of purchase price or $12,500 (whichever is lesser)
- Available for public protectors, educators, healthcare providers, military, or working under these industries
Choice
- 6% of purchase price or $12,500, (whichever is lesser)
- For applicants with a family member living with disability
Products under the Peach Plus Program
Standard
- 3.5% of purchase price or $10,000 (whichever is lesser)
- Available for all homebuyers
Protectors, Educators, & Nurses (PEN)
- 4% of purchase price or $12,500 (whichever is lesser)
- Available for public protectors, educators, healthcare providers, military, or working under these industries
Choice
- 4% of purchase price or $12,500, (whichever is lesser)
- For applicants with a family member living with disability