First Time Home Buyer Programs in Georgia

Georgia first time home buyer grants

Are you in the market for your first home in Georgia? Would you like the details regarding various programs to help you purchase that first home? If you answered yes to these two questions, there is great news for you. The state of Georgia provides financial assistance programs and incentives for its residents who are first time home buyers and need help with the down payment and closing costs.  It will be well worth your time to investigate the details of the grant programs that the State of Georgia provides.

The agency in Georgia that created the programs and administers the assistance to first time home buyers is The Georgia Department of Community Affairs. There is just one such grant available, depending upon your income. The program is the Georgia Dream Homeownership Program. To find out the specific requirements, please visit the Georgia Department of Community Affairs website page specifically describing this beneficial grant program.

The Georgia Dream Homeownership Grant Program is available to qualified borrowers statewide who meet certain income guidelines and who are purchasing homes within certain purchase price limits. In addition, borrowers must have modest assets and meet the flexible credit underwriting criteria for the loan program they have selected.

Here is the contact info for the Georgia Department of Community Affairs:

Georgia Department of Community Affairs
60 Executive Park South, N.E.
Atlanta, Georgia 30329-2231
Phone: 404-679-4847

Other Local Programs

In addition to the grant programs described above, the U.S. Department of Housing and Urban Development provides home buyer assistance and grants in every state. There are several programs designed specifically for people that meet certain requirements, such as grants for people with disabilities so they can continue to live independently at home. It is worth visiting HUD’s website to see what assistance is available now. For your convenience, simply go to this website.

Here is the contact information for the HUD office in Georgia:

Atlanta Regional Office
Five Points Plaza Building
40 Marietta Street
Atlanta, GA 30303-2806
Phone: (404) 331-5136
Fax: (404) 730-2392

There are also these local programs:

Atlanta Consumer Mortgage Counseling Service Down Payment Assistance Program Grant (DPAP) (770) 455-1770

The Invest Atlanta Downpayment Assistance Program consists of Neighborhood Lift Program (NLP), Atlanta Affordable Homeownership Program (AAHOP), and Vine City/English Avenue Home Ownership Assistance Program (HOAP).
These programs provide funding to eligible homebuyers for purchase of a new or existing home. Funding will be used to pay all or a portion of the closing costs and/or the down payment associated with purchasing a home. First-time homebuyers as well as previous homeowners are eligible for these programs.

Charlton County Community Home Investment Program (CHIP) Down payment and Closing Cost Assistance (912) 496-2549

Clarke County Housing & Economic Leadership Partners Inc Direct Homeownership Assistance Program (706) 549-5200

Georgia Housing Yes Inc Helping Hands Program (GIFT) (678) 937-0432

Hall County Down Payment Assistance Program (DPAP) (770) 297-1800

Hall County residents purchasing their first home can now apply locally for down payment assistance. Low to moderate income homebuyers will be awarded $2,500-$5,000 toward a down payment or closing costs. About 60 grants will be awarded to first-time homebuyers or displaced homemakers.

The Georgia Department of Community Affairs funnels federal grant funding to counties through the Community Home Investment Program. The local grant administrator, Home Development Resources Inc. (HDRI), started accepting applications this week for the funds.

“This service is in high demand in Hall County, especially considering the economic conditions. The grant money is usually gone within six months, so I encourage people get their applications submitted quickly,” said Mary Ledbetter, HDRI Executive Director.

HDRI is a HUD-certified nonprofit created by Hall County Government and the City of Gainesville to provide no-cost homebuyer and debt management education to the community. To apply for down payment assistance, contact HDRI at 770-297-1800, 731 Queen City Parkway, Suite 105, Gainesville, GA 30501

Multi Counties United Way of Metropolitan Atlanta IDA Program (IDA) (404) 527-3549

Savannah Dream Maker 1 – City Wide (DM1) (912) 651-6926

The Housing Department offers three Dream Maker programs with different levels of home buying assistance offering affordable loans for downpayment assistance, closing costs, gap financing and other related expenses. The level of assistance varies depending on the location and construction type of the home.

Dream Maker 1
City-wide eligibility

  • Up to $3,000 deferred, repayable upon transfer of title, refinance, or demise.
  • Minimum of $500 home buyer contribution toward home purchase
  • Outside of Target Neighborhoods

Savannah Dream Maker 2 – Target Neighborhood (DM2) (912) 651-6926

Dream Maker 2
CDBG Target Neighborhoods, Neighborhood Revalitization Areas and Succession Neighborhoods are eligible

  • Up to $6,000 deferred, repayable upon transfer of title, refinance, or demise.
  • Minimum of $500 home buyer contribution
  • House location inside of CDBG Target Neighborhoods, Neighborhood Revitalization Areas  and Succession Neighborhoods
  • Succession Neighborhoods: Edgemere/Sackville, Paradise Park/Oakhurst, Largo Woods, Wilshire Estates/Savannah Mall, and Windsor Forest

Savannah Dream Maker 3 – Infill Housing Neighborhood Street and Block Revitalization Projects (DM3) (912) 651-6926

Dream Maker 3
New construction only

  • Maximum Loan amount: New Construction in Revitalization & CDBG Areas. Home must be pre-approved by the DOH for the DM 3 program prior to Construction beginning.
  • Savannah Gardens (only) – Up to $50,000; up to $10,000 may be forgiven/granted if homebuyer lives in the house for 15 years
  • Neighborhood Revitalization Areas – Up to $30,000
  • DBG & Neighborhood Renaissance Neighborhoods – Up to $20,000
  • DOH Targeted Revitalization Area – Up to $30,000 1-story house and $40,000 2-story house.
  • CDBG Target Neighborhood – Up to $20,000
  • Maximum term: 30 years deferred, payable upon transfer of title, refinance, or demise.
  • Minimum of $500 Home buyer contribution.
  • Revitalization Areas: Benjamin Van Clark; Cuyler/Brownville; Feiler Park; Ogeecheeton; Savannah Gardens (including portions of East Savannah & Twickenham); West Savannah and Waters Avenue Corridor (One Block East and West of Waters Avenue)

About Jennifer Cribsly

I'm a former real estate broker who specialized in helping first time buyers be able to purchase a home. Now full time mom, part time real estate owner/investor.
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