Woodstock GA and Surrounding Areas Homes for Sale – Update by Red Hot Atlanta Homes

Many prospective homebuyers looking to purchase a home in metro Atlanta believe that there are no longer any down payment asssistance programs available to them.  Or, they’ve been told that the guidelines are so restrictive as to make it impossible to qualify for the available funds.

Both asssumptions are wrong.  Thru the GA Department of Consumer Affairs, $14,000 is available to any homebuyer looking to purchase a bank foreclosure in GA.  The program is called GA Dream and while the guidelines may seem difficult to navigate, Georgia homebuyers have taken advantage of millions of dollars available thru this program since it’s inception earlier this year.

Sensing a great opportunity for homebuyers with this program, we attended DCA training to become familiar with the ins and outs of the GA Dream program.  Since then, we’ve worked successfully with homebuyers throughout metro Atlanta to find their “dream” homes.  The guidelines are too complex to completely cover here, but there are income limits and education requirements, both reasonable, that the homebuyer(s) must meet in order to be eligible.  These are government backed loans, either FHA or VA.  If you meet these requirements and have saved $500 for your down payment   (yes, $500!), you will receive a $14,000 mortgage from DCA, which has zero interest and zero monthly payments.  That mortgage lien is released (written off) on a prorated basis over 5 years and 6 months from your closing.

Here’s a list of GA counties where you can purchase homes (townhomes and condos too!) that are eligible for GA Dream downpayment assistance.

While this is a great program for homebuyers, funding is limited and once the available funds are gone, the program is suspended unless and until new funding is approved.  So, look into the GA Dream Homeownership program if you are considering buying a home in GA soon!