First-Time Home Buyer Programs in Georgia

Georgia Department of Community Affairs (Georgia DCA) Programs:

Georgia Dream Homeownership Program:

Eligibility: Targets first-time homebuyers (no homeownership in the past three years) or buyers in targeted areas of Georgia.
Offerings: Provides a 30-year fixed-rate mortgage (FHA, VA, USDA, or conventional) at below-market rates; includes options for down payment assistance.
Requirements:

• Income must not exceed county-specific limits (e.g., $108,000 in Fulton County for 1-2 people as of 2025).
• Minimum credit score of 640 (or per loan type guidelines).
• Debt-to-income ratio capped at 45% (50% with higher scores).
• Homebuyer education course required for all first-time buyers.

Standard Down Payment Assistance:

Benefits: Offers up to $10,000 as a 0% interest, deferred second loan (due on sale, refinance, or after 30 years) for down payment and closing costs; combinable with Georgia Dream first mortgages.
Eligibility: Must use a Georgia Dream first mortgage; income and purchase price limits apply (e.g., $415,000 for a single-family home in non-targeted areas).

Georgia Dream PEN (Protectors, Educators, & Nurses):

Description: Provides up to $12,500 as a 0% interest, deferred second loan for down payment and closing costs; targets first-time buyers who are law enforcement, firefighters, teachers, nurses, or military personnel.
Requirements: Must pair with a Georgia Dream first mortgage; same income and purchase price limits as Standard DPA, plus employment verification.

Local Programs:

Atlanta

Atlanta Affordable Homeownership Program: Offers up to $30,000 as a 0% interest, deferred loan (forgivable after 10 years) for first-time buyers in Atlanta; income must not exceed 80% AMI (e.g., $73,050 for a family of four).

Savannah

Dream Maker Program: Provides up to $15,000 as a 0% interest, deferred loan (due on sale or refinance) for down payment and closing costs; targets first-time buyers with incomes up to 80% AMI in Savannah.

Augusta

Augusta Down Payment Assistance Program: Offers up to $7,500 as a forgivable loan (forgiven after 5 years) for first-time buyers; income must be at or below 80% AMI, and homebuyer counseling is required.

Additional Information:

• Mortgage Credit Certificate (MCC): Provides a tax credit of up to 30% of annual mortgage interest (max $2,000) for first-time buyers or those in targeted areas when using a Georgia Dream mortgage; fee of $800 applies.
• USDA and VA Loans: Zero-down payment options for rural areas (USDA) or veterans/active military (VA).
• FHA Loans: Minimum 3.5% down payment, suitable for credit scores as low as 580 (10% if below 580).