First Time Home Buyer Programs 2017 – Tips And Advice For First Time Home Buyer http://sellectrealty.com/first-time-home-buyers-programs/
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Looking for a home in Georgia, but don’t know about the programs for first time home buyers in the state?
You have come to the right place. Here are the details of top five 2017 first time home buyer programs in Georgia.
First Time Home Buyers Programs 2016 in Georgia:
The Dream Program:
The Dream Program provides down payment assistance and mortgage loans for eligible first time home buyers.
“Anyone who has not owned a house for three or more years is eligible
to be called first time home buyer.”
It’s a 30-year fixed rate mortgage program for buyers with a household income of k for two persons or k for three or more members of a family.
Besides, there is a limit on sale price, and it cannot exceed 0k. Furthermore, the borrower must make an investment of at least ,000 in the purchase transaction.
Dream Down Payment Assistance Program:
This down payment assistance program for first-time home buyers provides funds up to ,000. However, only buyers who qualify for The Dream Program are eligible for these funds.
The Protectors, Educators And Nurses Programs:
Another down payment assistance program for first-time home buyers. This program is limited to only health care workers, education, fire department, police, and military, etc.
It offers down payment assistance for up to ,500, and the borrowers must meet the eligibility criteria of Georgia Dream Program.
Consumer Home Ownership And Independence Choice For Everyone (CHOICE) Program:
CHOICE is limited to first home buyers with disabilities, or someone looking after a disabled family member. Just like PEN, the loan limit of CHOICE also does not exceed ,500.00.
To qualify for the loan, a medical certificate from an approved medical organization must be provided.
Home Safe Georgia:
Home safe Georgia provides funds for unemployed or underemployed to help buy a home. This program provides mortgage assistance in several forms.
Mortgage Payment Assistance Program provides monthly mortgage payments
Reinstatement Assistance Program provides funds for those who encountered a military or medically fatal hardship in last three years.
The Mortgage Payment Reduction provides funds for the homeowners who suffered a significant slump in income during last three years.
To qualify for this first time homebuyer program, following criteria must be fulfilled.
Borrowing must be a Georgian
He must be the homeowner or spouse of the homeowner
These are some of the top 2017 first time home buyer programs for those living in Georgia. Choose the one that suits you the best, and good luck with your purchase.