Georgia First Time Homeownership Dream Program

In the state of Georgia, first-time homebuyers are buyers who haven’t owned a home in three years. Buyers may qualify for the Georgia Dream HomeOwnership program.

What is the  Georgia Dream Homeownership Program?

The Georgia Dream homeownership is a homeownership assistance program for eligible low and moderate-income Georgians. This program provides affordable financing options, down payment assistance, and homebuyer education.

Do Recipients Have to pay Back the Downpayment assistance loan?

Yes.  The down payment assistance is a 0% interest loan with no monthly payment.  A second mortgage lien is placed on your property.  It is due when you sell, refinance or no longer occupy the home as your primary residence. 

Georgia Dream Program Highlights and Eligibility Requirements

Georgia Dream loans are available to:

• 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

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 (whichever is greater)
• Meet mortgage loan credit requirements

Maximum Household Income & Home Sales Price

If you purchase in one of these Georgia counties (Barrow, Bartow, Carroll, Cherokee, Clayton, Cobb, Coweta, Dawson, DeKalb, Douglas, Fayette, Forsyth, Fulton, Gwinnett, Heard, Henry, Jasper, Newton, Paulding, Pickens, Pike, Rockdale, Spalding or Walton):

1. The purchase price cannot exceed $250,000
2. Household income cannot exceed: 

1 or 2 persons: $80,000

3 or more persons: $92,000

Any county not listed above, the purchase price cannot exceed $200,000

Household income cannot exceed: 

1 or 2 persons: $69,000

3 or more persons: $79,000

How long does the Georgia Dream process take?

The average Georgia Dream process takes about 60 days from application to closing.

How To apply for a Georgia Dream loan?

You will contact a Participating Lender in the Georgia Dream Homeownership Program. Based on the type of loan that you are trying to obtain, these lenders can take your mortgage loan application for an FHA, VA, USDA-RD, or conventional uninsured loan and process all paperwork required by the Georgia Dream program.