Georgia’s Dream Program: Making Homeownership a Reality

Georgia’s Department of Community Affairs is dedicated to helping residents in select counties achieve their dream of homeownership through the Georgia Dream Homeownership Program. This program not only provides first mortgage loans and essential homebuyer education but also offers significant down payment assistance to ensure homebuyers can afford decent housing.

Enhanced Financial Assistance for Homebuyers

The Georgia Dream Homeownership Program offers up to $5,000 in down payment assistance to all qualifying homebuyers. Additionally, the program features specialized assistance options:

• Down Payment Assistance for Protectors, Educators, and Health Care Workers (PEN): This targets professionals in these vital sectors.
• Down Payment Assistance for Families with Disabilities (CHOICE): This is specifically designed to assist families that have members with disabilities.

Eligibility Criteria for Applicants

To be eligible for the Georgia Dream program, applicants must meet several key requirements:

• The property must be located in a targeted area.
• Applicants should not have owned a home in the past three years.
• Specific income and purchase price limits must be met.
• Applicants must have limited assets.
• A minimum investment of $1,000 is required from the applicants.
• Completion of Homebuyer counseling is mandatory. This can be achieved through a homebuyer workshop, individual housing counseling sessions, or an online homebuyer education course via E-Home America.

Income and Property Price Limits

The income and home sales price limits vary depending on the location of the property:

• For properties in Barrow, Bartow, Carroll, Cherokee, Clayton, Cobb, Coweta, Dawson, DeKalb, Douglas, Fayette, Forsyth, Fulton, Gwinnett, Heard, Henry, Jasper, Newton, Paulding, Pickens, Rockdale, Spalding, and Walton counties:
  • Household income limit for 1-2 persons: $69,000
  • Household income limit for 3 or more persons: $79,500
  • Home sales price limit: $250,000
• For properties in counties not listed above:
  • Household income limit for 1-2 persons: $59,500
  • Household income limit for 3 or more persons: $68,500
  • Home sales price limit: $200,000

The Georgia Dream Homeownership Program by the Department of Community Affairs is a significant initiative, offering a blend of financial assistance, educational resources, and specialized support to empower Georgians in their pursuit of owning a home. This program is a testament to the commitment of the Department of Community Affairs to foster sustainable homeownership and build stronger communities.