Buying Your First Home Just Got A Lot Easier.

Buying Your First Home Just Got A Lot Easier.

At Georgia Vista Mortgage & Loan, we understand that purchasing your first home is a significant milestone. To help you achieve your dream of homeownership, we’ve compiled a list of first-time homebuyer programs available in Georgia. These programs offer financial assistance, affordable mortgage options, and educational resources to make your journey smoother and more affordable.

Georgia Dream Homeownership Program

Administered by the Georgia Department of Community Affairs (DCA), the Georgia Dream Homeownership Program provides down payment assistance to eligible first-time homebuyers. Depending on your profession and family situation, you can receive $5,000 to $10,000 in assistance. The program also offers affordable fixed-rate mortgages and mandatory homebuyer education courses to ensure you are well-prepared for homeownership.

USDA Rural Development Loans

For those considering homes in rural areas, USDA Rural Development loans are a fantastic option. These loans, designed for low-to-moderate income households, offer no down payment, low-interest rates, and flexible credit requirements. Properties must be located in eligible rural areas, and applicants must meet specific income guidelines.

FHA Loans

Federal Housing Administration (FHA) loans are ideal for first-time buyers with lower credit scores or limited savings for a down payment. With down payments as low as 3.5%, FHA loans are insured by the federal government, making them more accessible and affordable.

VA Home Loan Program

For veterans, active-duty service members, and eligible surviving spouses, the Veterans Affairs (VA) Home Loan program offers numerous benefits. These include no down payment, no private mortgage insurance (PMI), and competitive interest rates, making it easier for military families to purchase their first home.

Local Assistance Programs

Local governments and non-profits across Georgia also provide valuable resources. For example, the Atlanta Housing Authority’s Housing Choice Homeownership Program offers down payment assistance, financial counseling, and homebuyer education for low-to-moderate income families in Atlanta.

At Georgia Vista Mortgage & Loan, we are dedicated to helping you navigate these programs and find the best solutions for your home buying needs. Contact us today to learn more about how we can assist you in your journey to homeownership.

The San Diego Housing Commission (SDHC) offers several first-time homebuyer programs aimed at assisting low- to moderate-income individuals and families in purchasing their first home in San Diego. These programs include:

  1. First-Time Homebuyer Down Payment and Closing Cost Assistance Program: This program provides deferred loans for down payment and closing cost assistance. The loan amount is based on the applicant’s income and can cover up to 17% of the home’s purchase price.
  2. Mortgage Credit Certificate Program (MCC): The MCC program provides eligible first-time homebuyers with a federal income tax credit based on a percentage of the annual interest paid on their mortgage loan. This credit can help lower their federal income tax liability, thereby increasing their available income to qualify for a mortgage loan and assist with monthly mortgage payments.
  3. Homeownership Grant Program: This program offers grants to eligible first-time homebuyers to assist with down payment and closing costs. Grants do not need to be repaid.
  4. Closing Cost Assistance Program: The Closing Cost Assistance Program provides a grant to help cover closing costs for eligible first-time homebuyers. The grant amount is based on the borrower’s income and household size.
  5. Affordable For-Sale Housing Programs: SDHC collaborates with developers to create affordable homeownership opportunities for low- to moderate-income individuals and families. These programs offer below-market-rate homes for sale to qualified buyers.
  6. Homeownership Counseling Program: SDHC offers free homeownership counseling to help first-time buyers navigate the homebuying process, understand mortgage options, and make informed decisions.

These programs aim to make homeownership more accessible and affordable for San Diego residents, particularly those with limited financial resources. Eligibility requirements vary for each program, including income limits, credit score criteria, and residency requirements.