Richard's Real Estate Thoughts - Chattanooga TN Mortgage Lender: June 2015

Grant program for GA home purchases

 

Homebuyers in Georgia who qualify can purchase a home with grant funds up to 5% of the purchase price. This will cover the FHA down payment and some of their closing costs.  This program is not affiliated with the Georgia Dream program. It is a grant that is offered in multiple states, including Georgia.

 

Buyers do not need to be first time home buyers, although they cannot presently own a home.

 

This grant program has some attractive features that can help a more potential homebuyers qualify.

 

  • Buyers do not need to be first time home buyers, although they cannot presently own a home.

  • Income limits apply, but only income used for qualification purposes is counted against the limit. This contrasts with some 100% purchase programs, including USDA Rural Housing, that count against the limit all household income, even income from household members who are not signers on the loan.

  • Income limits vary by county. Please call me to determine your income eligibility for this down payment assistance program, DPA.

  • The program does not require home buyer education.

  • Minimum credit score allowed is 640.

 

Although this program is a great fit with FHA financing, it can also be used with USDA Rural Housing loans, VA loans, and Fannie Mae, conventional loans.

 

I have helped families purchase a home with this down payment source. It has made the difference for them.

 

Call with any questions about this DPA program and see if you can take advantage to purchase your home.

 


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Richard Smith
NMLS# 184479 TN# 104002 GA# 28928 

Conventional, FHA, FHA 203k, HUD $100 down purchases, VA,

Rural Development ( USDA), and Jumbo Loans


Lending in Chattanooga, Tennessee and Georgia for over 20 years.

Sierra Pacific Mortgage

Cell phone: 423-280-0345 Email: Richard.Smith@SPM1.com

Visit my website to inquiry about a home loan.

Read my most recent articles in Scotsman Guide.

This blog represents the opinions of Richard Smith. The posts and comments written on the blog do not represent the opinions or positions of Sierra Pacific Mortgage. 

Comment balloon 0 commentsRichard Smith • June 20 2015 08:20AM
Grant program for GA home purchases
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Homebuyers in Georgia who qualify can purchase a home with grant funds up to 5% of the purchase price. This will cover the FHA down payment and some of their closing costs. This program is not affiliated with the Georgia Dream program. It is a… more