Georgia Dream First Time Buyer Assistance Program PEN

The Georgia Dream downpayment assistance for protectors, educators, and nurses, zero interest, the loan is a way for the state to help first-time homebuyers who meet certain income criteria.

This is a zero-interest loan and the money will have to be paid back if the property is sold or transferred.

Eligibility

Protectors, Educators & Nurses (PEN) — or work for these industries or active military.

First-Time Home Buyers, OR

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

Those who purchase a home in certain areas

Household income cannot exceed: 

1 or 2 persons: $84,000

3 or more persons: $96,000

Benefits

No Interest

No monthly payments

Funds can be used for downpayment, closing costs, prepaid and principal reduction

Maximum Amount

$7,500

Drawback

The money will have to be paid back when the house is sold or transferred.

It will be very difficult to find houses within these price ranges in today’s market.