Make Your Homeownership Dreams a Reality with Savannah’s Assistance Program
The Housing & Neighborhood Services Department (HNSD) of the City of Savannah proudly presents the Dream Maker (DM) program, a valuable initiative designed to provide down payment assistance to eligible applicants, making homeownership dreams come true.
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Available Assistance The Dream Maker Home Buying Assistance Program offers a range of assistance levels, including affordable loans to cover down payments, closing costs, gap financing, and related expenses. The level of assistance is determined by factors such as the home’s location and construction type.
Dream Maker 1
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- Up to $5,000 deferred, repayable upon transfer of title, refinance, or demise.
- Borrowers are required to contribute $1,000 toward the purchase.
- Eligible homes must be located outside of Target Neighborhoods.
- The property must be within the city limits.
Dream Maker 2
- Up to $7,500 deferred, repayable upon transfer of title, refinance, or demise.
- Borrowers are required to contribute $1,000 toward the purchase.
- Eligible homes must be located within CDBG neighborhoods.
Dream Maker 3
- Savannah Gardens (only): Up to $60,000 for two-story homes and up to $40,000 for single-story homes.
- Urban Redevelopment Areas: Up to $30,000.
- CDBG Neighborhoods: Up to $20,000.
- This tier is specifically designed for new construction in urban redevelopment and CDBG areas. Properties must receive pre-approval from HNSD for the DM 3 program before construction begins.
- Offers a 30-year term with deferred payments, payable upon transfer of title, refinance, or demise.
- Borrowers are required to contribute $1,000 toward the purchase.
The Dream Maker programs aim to empower prospective homeowners in achieving their homeownership goals while providing flexible options to suit various circumstances. Whether you’re looking to purchase a home outside of Target Neighborhoods (Dream Maker 1), within CDBG neighborhoods (Dream Maker 2), or exploring opportunities in designated areas like Savannah Gardens, urban redevelopment zones, or CDBG neighborhoods (Dream Maker 3), there’s a program tailored to your needs.
With the Dream Maker Home Buying Assistance Program, the City of Savannah is committed to fostering affordable homeownership and community development. Don’t miss the chance to turn your homeownership dream into a reality with the support of these valuable programs. Reach out to the Housing & Neighborhood Services Department today to explore your options and take the first step toward owning your own home in Savannah.
