Down Payment Assistance

On July 30, 2008, President Bush signed H.R. 3221 - Housing and Economic Recovery Act of 2008. Section 2113 of the bill prohibits seller-funded Down Payment Assistance for loans backed by the Federal Housing Administration. Prior to this bill, the seller could contribute up to 6% to the buyer to cover either a down payment or closing costs on an FHA loan. The changes became effective October 1, 2008.  

Since then, various down payment assistance programs have been developed. Listed below are a few down payment assistance programs that are currently being offered in the Metro Atlanta area. Click each link for specific information. Please check back regularly because new programs are added or changed periodically.

Dekalb County Down Payment Assistance

All eligible applicants will receive $5,000 towards their down payment, counseling sessions, or other prepaid expenses. Those who successfully improve their FICO credit scores to 620 or higher within a limited time period, may receive up to $3,000 additional monies, total down payment up to $8,000. 

Georgia Dream Down Payment Assistance


Down payment funds are provided as a second mortgage loan for the purpose of principal reduction and the payment of pre-paid items and closing costs. 


Atlanta Affordable Homeownership Program


The “Atlanta Affordable Homeownership Program (AAHOP)” provides $10,000 mortgage assistance in form of a 0% interest rate soft second mortgage and covers up to 50% of the settlement costs. 

Gwinnett County Homestretch


The HOMEstretch I downpayment assistance program offers $7,500 with 0% interest to qualifying home buyers purchasing in Gwinnett County.