Loans By Kathy: GA Dream for GA Residents

GA Dream for GA Residents

The GA Dream program is available for Georgia Residents.  It provides the down payment for home buyers that haven't been able to save enough for their down payment and/or closing costs. 

Like so many other financing programs, there are some restrictions and minimum requirements:

  • Minimum credit score of 620
  • At least $1000 of own funds in the transaction
  • Must be a First Time Home Buyer
  • Must not exceed household income restriction (this is amount can vary by county) 
  • Must successfully complete a Home Buyer's Training Class.
  • Meet all FHA guidelines

There are three programs:

  • Standard $5000
  • PEN (must work in Public Service, Education or Medical) $7500
  • Choice (For households with individuals living with a disability) $7500

For more information go to

The most common question asked is when do I have to pay this back?  This down payment is recorded as a silent second mortgage at 0% interest with no payment due.  As long as you continue to live in the property, you will not be making a payment on this second mortgage.  The mortgage must be satisfied if the property is sold, or refinanced. 

This program has made home ownership a reality for many Georgia families.  Are you ready to be a home owner?


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Kathy Sheehan Senior Loan Officer






Bay Equity LLC

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11475 Great Oaks Way, Suite 350, Alpharetta, GA 30002

800.BAY.3703 Bay Equity LLC NMLS ID#76988



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The opinions and general information in this blog are soley those of Kathy Sheehan.  Specifics regarding an individual case should be discussed in detail with a loan professional.  For a confidential consultation, please feel free to contact me via phone or email.  All terms and conditions are subject to change.


Comment balloon 0 commentsKathy Sheehan • March 30 2011 07:51PM