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. Atlanta Development Authority Home Ownership & Mortgage Programs ADA offers four mortgage assistance programs that can make your dreams of homeownership come true. 1. Home Atlanta The Home Atlanta program is ADA's newest mortgage assistance tool. The program offers a 30-year fixed rate mortgage with a 4% grant. Borrowers may also receive 10% of the purchase price as an additional incentive under the Opportunity Downpayment Assistance Program which works exclusively with the Home Atlanta first mortgage program. 2. Atlanta Affordable Homeownership Program (AAHOP) AAHOP provides first-time homebuyers with down-payment assistance of $10,000 at a 0% interest rate. 3. American Dream Downpayment Initiative (ADDI)
ADDI both provide first-time homebuyers with down-payment assistance of $10,000 at a 0% interest rate. 4. Vine City Trust Fund Homeownership Assistance Program Homebuyers purchasing in Vine City or English Avenue neighborhoods may qualify for up to $15,000 of mortgage assistance. Eastside TAD Affordable Purchase Program Through the innovative Eastside tax allocation district program, several new condo developments are offering subsidized for-sale condos well below market rate prices. For qualifying buyers, one and two bedroom units are offered at less than $155,000. If you make less than $56,950 you may qualify. *Some programs may be combined to maximize down-payment assistance. Georgia Dream Homeownership Program The Georgia Dream Homeownership Program offers down payment and closing costs assistance up to $10,000 to eligible borrowers, which can greatly reduce the out of pocket expense to the buyer. Federal Home Loan Bank of Atlanta The program provides matching funds for down-payment and closing-cost assistance up to $10,000 for low and moderate income homebuyers. Fulton County Down Payment Assistance The program provides up to $10,000 for down payment and closing costs in the form of a deferred payment loan, which requires no form of payment as long as the home remains the primary residence of the homebuyer. Twenty (20) percent of the loan will be forgiven annually. No funds available at this time. Clayton County Home Buyer Assistance The Down Payment Assistance Program, known as the Clayton Homebuyer Assistance Program (CHAP) may provide the participant with Down Payment, Closing Costs, and/or Prepaid Items, not to exceed $5,000.00. Dekalb County Down Payment Assistance All eligible applicants will receive $5,000 towards their down payment, closing costs, or other prepaid expenses. Those who successfully improve their FICO credit scores to 620 or higher may receive up to $8,000. |