Georgia Dream

Eligible Applicants

The Georgia Dream Loan Program provides f inancial assistance for eligible first-time homebuyers. Affording the down payment is often the biggest obstacle to homeownership. Georgia Dream can help qualified borrowers clear this hurdle. Down payment loans are available to first-time homebuyers or homebuyers who have not owned a home in the past three years, or those who purchase a home in certain areas who also meet a set of financial criteria. Potential homebuyers apply with participating lenders for Georgia Dream loans. These loans may be secured or guaranteed FHA, VA, USDA loans or conventional uninsured loans. Interest rates are available from participating lenders. Once the lender grants final credit approval, the loan documents are prepared for closing. Borrowers must attend and complete either a homebuyer education workshop, individual housing counseling sessions, or an online homebuyer education course through E-Home America.

Georgia Dream loans* are available for:

  • First-time homebuyers, OR

  • Homebuyers who have not owned a home** in the past three years, OR

  • Those who purchase a home in certain areas

Who also:

  • Have a household income up to the maximum

  • Have liquid assets of no more than $20,000 or 20% of the sales price immediately after closing (whichever is greater)

  • Meet mortgage loan credit requirements

*Loans are 30-year fixed interest rate mortgages. Participating lenders give credit approval for FHA, USDA-RD, VA or conventional eligible mortgage loans.

**Homebuyers who have not had interest or ownership in a primary residence in the last three years.

Down Payment Loan Options

  • Standard - All eligible homebuyers may qualify!

    • Five percent (5%) of the property purchase price or a maximum $10,000, whichever is the lesser amount. 

  • Protectors, Educators & Nurses (PEN) - Are you a public protector, educator, healthcare provider — or work for these industries — or active military?

    • Six percent (6%) of the property purchase price or a maximum of $12,500, whichever is the lesser amount.

  • Choice - Is a member of your family living with a disability?

    • Six percent (6%) of the property purchase price or a maximum of $12,500, whichever is the lesser amount.

Home Sales Price and Maximum Household Income

The following information is the home sale price and maximum household income for each home in the respective counties or areas listed.

  • Area/County: Atlanta - Sandy Springs - Roswell, GA HUD Metro
    Barrow County, Bartow County, Carroll County, Cherokee County, Clayton County, Cobb County, Coweta County, Dawson County, DeKalb County, Douglas County, Fayette County, Forsyth County, Fulton County, Gwinnett County, Heard County, Henry County, Jasper County, Newton County, Paulding County, Pickens County, Pike County, Rockdale County, Spalding County, Walton County

    • Home Sales Price: $550,000

    • Household Income:

      • 1-2 persons: $130,290

      • 3+ persons: $149,833

  • Area / County: Athens, GA MSA
    Clarke County, Madison County, Oconee County, Oglethorpe County, Morgan County

    • Home Sales Price: $450,000

    • Household Income:

      • ​​​​​1-2 persons: $113,160

      • 3+ persons: $132,020

  • Area / County: All Other Georgia Counties

    • Home Sales Price: $400,000

    • Household Income:

      • 1-2 persons: $98,400

      • 3+ persons: $113,160

FINANCIAL CRITERIA

  • 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