Georgia Dream Homeownership Program

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If you are thinking about buying a home in Metro Atlantamy suggestion is to look at all available home loan programs.  The Georgia Dream Homeownership Program is one of many programs that assists home buyers in the purchase of a home.  This program offers down payment assistance in the way of an interest free, no payment second mortgage.  You have to repay it when you resell or refinance the home but there are no payments during the time you live in the home.  It is a great program for anyone who does not have a down payment or wants to save their money for upgrades or  just to save it. Like any home buying program there is certain criteria that have to be met in order to qualify.  The Georgia Dream Homeownership Program has a set of standard criteria for all homebuyers that want to use this program.

Georgia Dream Homeownership Program- Basic Qualifications
  • First-time homebuyer
  • Not owned a home in the past three years
  • Buy a home in qualified GA Dream Loan Program area
  • Are at or below the income requirement
  • Have liquid assests not more than $20,000 or 20% of the sales price (whichever is greater)
  • Have to meet standard mortgage loan credit requirements
  • Complete a Home Buyer Education class and provide certificate of completion
  • Contribute a minimum of $1,000 to purchase transaction (earnest money)
 Georgia Dream Loan Program – Qualified Areas

The entire state of Georgia qualifies for the Georgia Dream, but where you live determines certain criteria and income qualifications.

Georgia Dream Loan Program – Income Criteria

There is an income criteria to be eligible for the Georgia Dream Loan Program.  Depending on where you live will determine what the income qualifications are.  If you live in the Metro Atlanta area which include:

Barrow, Bartow, Butts, Carroll, Cherokee, Clayton, Cobb, Coweta, Dawson, DeKalb, Douglas, Fayette, Forsyth, Fulton, Gwinnett, Haralson, Heard, Henry, Jasper, Lamar, Meriwether, Newton, Paulding, Pickens, Pike, Rockdale, Spalding or Walton Counties, your total family income cannot be greater than:

  • One to two persons                        $69,000
  • Three or more person                    $79,500

*Sales price of the home cannot exceed $250,000

If you live anywhere outside the Metro Atlanta area you income cannot be great than:

  • One to two persons                        $59,500
  • Three or more persons                   $68,500

*Sales price of the home cannot exceed $200,000

Georgia Dream Loan Program – Interest Rates

Georgia Dream has two interest rates.  These rates are based on whether you use the down payment assistance or not.  If you use Georgia Dream for just a mortgage than

you interest rate will be .25% lower.

Georgia Dream First Mortgage Only

  • FHA/VA/RD/Conventional Uninsured
  • 250%

Georgia Dream First Mortgage- Combined with any Georgia Dream Down Payment Loan

  • FHA/VA/RD/Conventional Uninsured
  • 500%
Georgia Dream Loan Program – Loan Options

When applying for the Georgia Dream homebuyers have three loan options within Georgia.


  • Qualify with the basic qualifications for the program
  • $5,000 downpayment assistance is the form of a second mortgage loan
  • Second mortgage loan- no interest/no payments
  • Repaid when the home is sold or refinanced


  • To assist homeowners who are have a disability
  • Qualify with the basic qualifications for the Georgia Dream Homeownership Program
  • $7,500 down payment assistance in the form of a no interest or payment second mortgage
  • A Social Security Disability determination letter
  • A certified denial from SSI must state that a disability or impairment exist but not eligible for funds
  • Document from acceptable medical source that states the existence of an impairment listed on the SSI website -SSI Disabilities List
  • If applicable – evidence of dependent status


  • To assist anyone who is in any type of law enforcement of military, educators, and nurses
  • Qualify with the basic qualifications for the Georgia Dream Homeownership Program
  • $7,500 down payment assistance in the form of a no interest or payment second mortgage

If you are thinking about buying a home in Metro Atlanta it is a great time too.  With the Georgia Dream Homeownership Program and others, you can buy a home with very little money.