Loans By Kathy: GA Dream Homeownership Program Changes Announced

GA Dream Homeownership Program Changes Announced

GA Dream,down payment assistance,

The GA Dream Homeownership Program is a government-sponsored down payment assistance program.  It offers either $5000 or $7500 depending on the buyer's qualifications in the form of a silent second mortgage for first-time homebuyers.

On February 24, it was announced that there would be changes to the GA Dream Homeownership Program as outlined below.


IRS REDUCES MAXIMUM INCOME LIMITS

Changes are effective with

loan reservations

on or after

Saturday, February 25, 2012

 

Borrowers purchasing within the Atlanta Metropolitan Statistical Area:

Barrow, Bartow, Butts, Carroll, Cherokee, Clayton, Cobb, Coweta, Dawson, DeKalb, Douglas, Fayette, Forsyth, Fulton, Gwinnett, Haralson, Heard, Henry, Jasper, Lamar, Meriwether, Newton, Paulding, Pickens, Pike, Rockdale, Spalding or Walton Counties may have a total household income(based on the number of people living in the home) of no more than:

 

One to two persons              $69,000

Three or more persons          $79,500

 

Borrowers purchasing outside the Atlanta Metropolitan Statistical Area: (Any county not listed above) May have a total household income (based on the number of people living in the home) of no more than:

 One to two persons             $59,500

 Three or more persons        $68,500

 

For more information regarding qualifying for this program, please contact me.

 

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Kathy Sheehan Senior Loan Officer

P:

770.634.4021

F:

404.745.8060

 

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 • February 25 2012 11:10AM

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