There are a number of effective first-time home buyer programs available to prospective home buyers in Georgia for the purchase of their first house. With these options available to you, you no longer have to live with the misconception that you cannot afford to buy a home thanks to the rising cost of home prices and the fees associated with the purchase of a new home. These programs will allow you to realize your homeownership dreams come true.

Georgia Dream Loans

The Georgia Dream Loans program is available to all first-time home buyers in the State of Georgia. These loans are guaranteed to anyone who meets the minimum requirements for home ownership. They are fixed-rate, 30-year mortgages. The good news is that buyers who qualify for one of these loans, as well as any programs offered by the VA or FHA, can utilize both.

The Georgia Dream Loans program also offers down payment assistance to first-time home buyers who qualify. As long as the buyer agrees to offer a minimum of $1,000 of his or her own funds towards the down payment of their new home in Georgia, he or she will qualify for a down payment assistance payment of $5,000 to $7,500.

USDA Rural Development

The USDA Rural Development program is designed to help first-time home buyers purchase their first home. This program requires you to meet a specific set of circumstances and requirements. The program offers not only down payment assistance by affordable payment options, the terms are based on the amount of time in which you reside in the home you purchase. If you stay for the length of the full term, the funds given to you are not required to be repaid. However, if you move out of your home before the full term is over, you will be required to pay a portion of the money given to you to purchase your home.

CHIP Program

The only downfall to the CHIP Program is that it is not available in every city in Georgia. It is something worth looking into, however. If you qualify, the program will provide you with down payment assistance to help you purchase your first home.

There are several options available for Georgia residents looking to purchase their first home. If you think you cannot afford to buy a home, you could be mistaken. Looking into these programs can help you determine whether or not you can afford to become a Georgia homeowner for the first time.

For all your real estate needs, whether buying, selling, renting or investing, please contact Astrin Real Estate or Astrin Property Management and ask for Pat Astrin or Jennifer Astrin at 770.313.4124, 770.679.1770, or via email at [email protected]. For more information, visit www.patastrin.com or stop by their office at 3565 Hwy 20 SE, Suite D, in Conyers.