Apply for the Georgia Dream Homeownership Program
The Georgia Dream Homeownership Program provides affordable mortgage financing for eligible homebuyers.
The Georgia Dream Homeownership Program makes purchasing a home possible for eligible residents. Georgia Dream provides affordable financing options, down payment and closing cost assistance, and homebuyer education. Active military members, public protectors, educators, healthcare providers, and residents with family members living with a disability qualify for special down payment loan options.
How Do I … Apply for the Georgia Dream Homeownership Program?
Determine if You’re Eligible
- Be a first-time homebuyer, have not owned a home in the past three years, or be purchasing a home in certain areas of Georgia.
- Not have a household income that exceeds the maximum household income ( visit the Georgia Department of Community Affairs website for income limits).
- Have liquid assets of no more than $20,000 or 20% of the sales price (whichever is greater).
- Meet mortgage loan credit requirements.
- Be purchasing a home with a sales price that does not exceed the limit (varies by county).
- Visit the Georgia Department of Community Affairs website for more eligibility details .
Gather What You’ll Need
- Most recent 3 consecutive years IRS transcripts
- Most recent signed complete personal tax returns
- A copy of lender’s Delegated Underwriter’s Transmittal signed 92900LT form with comments stating his/her review of the application
- Credit report
- Fraud report
- A signed Application Affidavit form (required by Georgia Dream)
- Signed letter of explanation addressing all prior addresses and no prior homeownership or a copy of the no-record results to the IRS request for the prior 3 years 1098 transcripts
- A minimum of $1,000 to put toward your home purchase
Get Qualified
Contact a Georgia Dream Participating Lender to pre-qualify and begin the mortgage loan process. Visit the Georgia Department of Community Affairs (DCA) website for a list of participating lenders or call DCA at 1-800-359-HOME (4663) to get started.
Next Steps
- Once you are pre-qualified, you can begin your home search process.
- Homebuyer counseling is required for all Georgia Dream loans. Georgia Dream borrowers must attend and complete either a homebuyer education workshop, an individual housing counseling sessions , or an online homebuyer education course through E-Home America.
- The average Georgia Dream process takes about 60 days from application to closing.
- Determine if You’re Eligible
- Gather What You’ll Need
- Get Qualified
- Next Steps
