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What credit score is needed for Georgia Dream?
640
Applicant must have a minimum middle credit score of 640, must meet income and purchase price limits and must have limited liquid assets.
How do I get started with Georgia Dream?
How do I get started? Contact a Georgia Dream Participating Lender to pre-qualify and begin the mortgage loan process. Go to www.GADream.com to find a list of participating lenders, or call 1-800-359-HOME (4663).
Who qualifies for down payment assistance in GA?
Georgia Standard Down Payment Assistance provides all eligible borrowers with $5,000 in assistance. Georgia PEN offers $7,500 in assistance to first responders, military, educators, health care professionals and others. Georgia Choice helps qualified disabled borrowers with $7,500 in down payment assistance.
What are the requirements for the Georgia Dream program?
To be eligible for the Georgia Dream program, applicants must be looking at a property in the targeted area, and not have owned a home in the past three years. They must meet the specific income and purchase price limits, have limited assets, and be able to invest a minimum of $1,000.
Who is eligible for Georgia dream home loan?
The Georgia Dream Homeownership Program is available to qualified borrowers statewide who meet certain income guidelines and who are purchasing homes within certain purchase price limits. In addition, borrowers must have modest assets and meet the flexible credit underwriting criteria for the loan program they have selected.
How does the Dream Home program in Georgia work?
Georgia Dream Homeownership Program. The Department of Community Affairs in Georgia helps residents in particular counties finance their new homes through the Georgia Dream Homeownership Program. The program helps homebuyers afford decent housing by providing them with down payment assistance.
How to apply for Georgia Dream down payment assistance?
With Georgia Dream Down Payment Assistance you will have access to a mortgage that requires: *If either spouse have purchased or owned a home in the last 3 years you are disqualified *Tax returns will be used to verify your past home ownership—if applicable Meet the requirements of the Georgia Dream 1st & 2nd mortgage programs. 1.