---
title: "Georgia Dream Homeownership Program for First-Time Buyer"
url: https://stacklist.com/card/1dfe8dbc-c4c9-408c-a2ad-dd3d5b8a3ef8
source_url: "https://www.bankrate.com/mortgages/georgia-first-time-homebuyer-assistance-programs/"
stack: https://stacklist.com/c/finance/stack/95e3f2a8-9b5f-4fab-844d-0b7e24b77fda
summary: "Georgia first-time homebuyer programs, including Georgia Dream mortgage products, offer 30-year fixed-rate loans with down payment assistance for buyers meeting income, home price, and asset requirements. The guide covers Georgia Dream, Peach Plus, and Peach Select Veterans Assistance programs administered by the Georgia Department of Community Affairs, with home prices in the state averaging $367,000 as of February 2025."
tags: "first-time-homebuyer, georgia, down-payment-assistance, mortgage-programs, georgia-dream, homeownership, va-loans"
key_entities: "Georgia (location), Georgia Department of Community Affairs (organization), Georgia Dream (concept), Georgia Dream Peach Plus (concept), Georgia Dream Peach Select Veterans Assistance (concept), Bankrate (organization), Redfin (organization), FHA loan (technology), VA loan (technology), USDA loan (technology)"
classification: "reference"
content_hash: "sha256:6e685c1e98cde72ae31398338e969194d40c8bc9e222f4a330193da2825ff8ec"
acp_version: "0.2"
token_counts_approximate: 4383
visibility: public
agent_accessible: true
status: "final"
---

# Georgia Dream Homeownership Program for First-Time Buyer

Daniela Duncan/Getty Images Menu List Icon Table of contents Back to top Trend Unchanged Icon Arrow Up Icon Table of contents Close X Icon Georgia first-time homebuyer programs Georgia down payment assistance and grants City-specific homebuyer assistance programs Other Georgia first-time homebuyer loans Get started If you’re hoping to buy your first home in the Peach State, you might be relieved to learn that Georgia falls well below the national average in terms of home costs. The median sale price for a home in the state was $367,000 as of February 2025, according to Redfin, while the national median was $425,061. However, no matter how much your home costs, it’s likely to be the biggest purchase you’ve ever made. And Georgia offers plenty of pathways to first-time homeownership , especially through the Georgia Department of Community Affairs ’ Georgia Dream mortgage products. Georgia first-time homebuyer programs Georgia Dream Georgia Dream is a 30-year, fixed-rate mortgage program for first-time homebuyers using conventional, FHA, VA or USDA loans. As with many housing programs, a first-time buyer is someone who has not owned a home in the last three years. Buyers who have owned a home more recently may still qualify for Georgia Dream by buying in a target area. Requirements Caret Down Icon Be a first-time homebuyer or buy in a targeted area Earn no more than program income limits, up to a maximum of $138,505 for a household of three or more Meet home price limits, between $360,000 and $425,000, depending on location Contribute at least $1,000 to the home purchase Have no more than $20,000 or 20 percent of the home sales price, whichever is greater, in liquid assets Complete a homebuyer education workshop or individual housing counseling session Pros and cons Caret Down Icon Pros: More than 50 participating lenders Relatively high home price limit May be paired with down payment assistance Cons: Must have $1,000 in personal funds to contribute to the loan Same income limit for any household with three or more members Georgia Dream Peach Plus If you don’t meet the requirements for the Georgia Dream program, but you qualify for an FHA loan, you may be eligible for the Peach Plus program, which has higher income and home price limits. Requirements Caret Down Icon Qualify for an FHA loan Earn no more than program limits, up to a maximum of $207,758 for a household of three or more Meet home price limits, between $475,000 and $525,000, depending on location Contribute at least $1,000 to the home purchase Have no more than $20,000 or 20 percent of the home sales price, whichever is greater, in liquid assets Complete a homebuyer education workshop or individual housing counseling session Pros and cons Caret Down Icon Pros: Open to first-time and repeat buyers More than 50 participating lenders Relatively high home price limit May be paired with down payment assistance Cons: Must meet liquid asset limit Georgia Dream Peach Select Veterans Assistance Veterans who plan to buy with a VA loan may qualify for this program, which offers a 30-year fixed loan at a below-market rate, currently 5 percent. You don’t need to be a first-time buyer to qualify for this program, and most VA borrowers aren’t required to make a down payment. Requirements Caret Down Icon Qualify for a VA loan Earn no more than program limits, up to a maximum of $138,505 for a household of three or more Meet home price limits, between $360,000 and $425,000, depending on location Contribute at least $500 to the home purchase Complete a homebuyer education workshop or individual housing counseling session Pros and cons Caret Down Icon Pros: Open to first-time and repeat buyers More affordable mortgage rate More than 50 participating lenders Cons: Must have $500 in personal funds to contribute to the loan Same income limit for any household with three or more members Georgia down payment assistance and grants Georgia Dream Down Payment Loan The Georgia Dream program includes down payment assistance worth up to $10,000 or 5 percent of the purchase price, whichever is less, in the form of a zero-interest second loan that doesn’t require monthly payments. The loan comes due only if your home is no longer your primary residence or you refinance. Certain borrowers — including those in some public service professions, active military or those with a disabled family member — can receive up to $12,500 or 6 percent of the purchase price, in assistance. Pros and cons Caret Down Icon Pros: Repayment deferred until you sell the home No interest Cons: Can be used only in conjunction with the Georgia Dream mortgage City-specific homebuyer assistance programs Atlanta: Invest Atlanta Vine City Renaissance Initiative (VCRI) This program offers up to $20,000 in the form of a forgivable loan to prospective homebuyers in Atlanta’s Vine City. You must qualify for a conventional, FHA or VA loan through an Invest Atlanta-affiliated lender, and you must remain in the home for five years to receive loan forgiveness. Although this program is open to repeat buyers, you may not currently own property. Requirements Caret Down Icon Buy a primary residence in Vine City Meet income limits, up to $162,540 for a five-person household Have no more than $25,000 in liquid assets Contribute at least $1,500 toward the home purchase Pay $1,000 program fee Complete a homebuyer education course Pros and cons Caret Down Icon Pros: Doesn’t require repayment No property price limits Can be used in conjunction with a renovation loan Can be used for down payment and closing costs Open to multi-family properties Cons: Must pay a $1,000 fee to participate Not open to manufactured homes Atlanta: Invest Atlanta Intown Mortgage Assistance Program This program also offers up to $20,000 as a forgivable loan for Atlanta homebuyers. Like the Vine City program, you’ll receive forgiveness after living in the home for five years, and you may qualify with a conventional, FHA or VA loan obtained through an Invest Atlanta-affiliated lender. You may have owned other property in the past, but not at the time of your application. The programs’ other requirements vary slightly. Requirements Caret Down Icon Buy a primary residence in Atlanta with a sale price of no more than $385,000 Meet income limits, up to $139,320 for a five-person household Meet credit score and debt-to-income (DTI) ratio requirements: No more than 45 percent DTI with a 660 minimum credit score or no more than 50 percent DTI with a 680 minimum credit score Have no more than $25,000 in liquid assets Contribute at least $1,500 toward the home purchase Pay $1,200 program fee Pros and cons Caret Down Icon Pros: Doesn’t require repayment Can be used for down payment and closing costs Open to multi-family properties Cons: Must pay a $1,200 fee to participate Not open to manufactured homes Atlanta: Atlanta Affordable Homeownership Program This program offers up to $20,000 — or $25,000 for professionals in certain fields — to first-time homebuyers within Atlanta city limits. The funds are a no-interest loan that’s fully forgiven if the home remains your primary residence for 10 years. Borrowers must qualify for a conventional, FHA or VA loan with a fixed rate and a 15- or 30-year term ; many programs require a term of at least 30 years. Requirements Caret Down Icon Cannot have owned a home in the past three years Buy a primary residence within the city of Atlanta costing no more than $375,000 Earn no more than 80 percent of the current area median income (AMI) Have no more than $25,000 in liquid assets Contribute at least $1,500 to the home purchase Have been a Georgia resident for at least six months Complete an eight-hour homebuyer education course Pros and cons Caret Down Icon Pros: Doesn’t require repayment Can be combined with other assistance Open to condos and townhomes, as well as single-family homes Can be used for down payment and closing costs 620 minimum credit score Cons: Must repay full amount of assistance if you sell your home or take out home equity within the first five years Savannah: DreamMaker Home Purchase Assistance Savannah’s DreamMaker program features deferred payment 30-year loans with 2 percent interest to offset down payment and closing costs, as well as provide gap funding. If your housing is developed in partnership with the city of Savannah, you may qualify for up to $50,000. Otherwise, you may qualify for up to $30,000. Requirements Caret Down Icon Buy a primary residence within Savannah city limits Be a first-time homebuyer Qualify for a loan with a private lender Meet program income limits, up to $122,000 for an eight-person household Home must cost no more than $255,000 640 minimum credit score Contribute at least $1,000 to the home purchase Complete a homebuyer education course Pros and cons Caret Down Icon Pros: Repayment deferred until you sell or refinance Can be used for down payment and closing costs, as well as gap funding Cons: If the borrower dies or defaults, repayment is required. If you sell the home within 10 years, you’ll have to share your equity, as well as repay the assistance. Condos don’t qualify. Augusta: Homeownership Assistance Program Augusta’s down payment assistance program provides eligible homebuyers up to $5,000 to be used for down payment or closing costs. The assistance is forgiven if you live in the home for at least five years. Requirements Caret Down Icon Have not owned a home within the last three years Buy a primary residence within Augusta or Richmond County Earn no more than 80 percent of the AMI Meet purchase price limits: $152,000 for existing homes or $227,000 for new construction Be employed Contribute up to $1,000 to the home purchase Complete a homebuyer education course Pros and cons Caret Down Icon Pros: Doesn’t require repayment Cons: Must contribute $1,000 to the purchase Other Georgia first-time homebuyer loans Along with looking up Georgia Dream and local programs, you can consider these national programs which help first-time buyers: FHA loans : Loans insured by the Federal Housing Administration (FHA) have more lenient financial requirements than other loans. If you have at least a 580 credit score, you may qualify to put as little as 3.5 percent down with an FHA loan. VA loans : For qualifying active-duty military, veterans and surviving spouses, a loan guaranteed by the U.S. Department of Veterans Affairs (VA) is a great option. These loans come with lower interest rates than conventional loans and typically don’t require a down payment. USDA loans : Loans guaranteed by the U.S. Department of Agriculture (USDA) also don’t require a down payment, but you’ll need to buy in a designated rural area and meet income requirements. HomeReady and Home Possible loans: HomeReady and Home Possible are loan programs created by government-sponsored enterprises Fannie Mae and Freddie Mac . They’re specifically for first-time homebuyers, require only 3 percent down and have more flexible income requirements. Get started Lining up assistance is just one step toward buying a home. You’ll also want to: Study up on the housing market in Georgia : This can help you understand what you might be able to afford where you live now, or if you relocated. Improve or maintain your credit score: When you are ready to buy a home, your credit score will influence the type of mortgage and rates you can access. Learn more about what it means to buy a house in Georgia : Before committing to a home, find out more about the state and how its climate, cost of living , property taxes and other factors might impact you. A qualified, local real estate agent is also key. Compare mortgage lenders : Read reviews of local mortgage lenders to get an idea of which specialize in the mortgage type you’re after, as well as what you can expect in terms of customer service and fees. Shop mortgage rates : It can pay off to shop around for the best mortgage rates before you commit to a loan. Purchase homeowners insurance in Georgia : Your mortgage lender will require you to have a homeowners insurance policy, and shopping around can help you find the best coverage for the lowest rate. Explore other first-time homebuyer programs by state Caret Down Alabama first-time homebuyer programs Montana first-time homebuyer programs Alaska first-time homebuyer programs Nebraska first-time homebuyer programs Arizona first-time homebuyer programs Nevada first-time homebuyer programs Arkansas first-time homebuyer programs New Hampshire first-time homebuyer programs California first-time homebuyer programs New Jersey first-time homebuyer programs Colorado first-time homebuyer programs New Mexico first-time homebuyer programs Connecticut first-time homebuyer programs New York first-time homebuyer programs Delaware first-time homebuyer programs North Carolina first-time homebuyer programs Florida first-time homebuyer programs North Dakota first-time homebuyer programs Georgia first-time homebuyer programs Ohio first-time homebuyer programs Hawaii first-time homebuyer programs Oklahoma first-time homebuyer programs Idaho first-time homebuyer programs Oregon first-time homebuyer programs Illinois first-time homebuyer programs Pennsylvania first-time homebuyer programs Indiana first-time homebuyer programs Rhode Island first-time homebuyer programs Iowa first-time homebuyer programs South Carolina first-time homebuyer programs Kansas first-time homebuyer programs South Dakota first-time homebuyer programs Kentucky first-time homebuyer programs Tennessee first-time homebuyer programs Louisiana first-time homebuyer programs Texas first-time homebuyer programs Maine first-time homebuyer programs Utah first-time homebuyer programs Maryland first-time homebuyer programs Vermont first-time homebuyer programs Massachusetts first-time homebuyer programs Virginia first-time homebuyer programs Michigan first-time homebuyer programs Washington first-time homebuyer programs Minnesota first-time homebuyer programs Washington D.C. first-time homebuyer programs Mississippi first-time homebuyer programs West Virginia first-time homebuyer programs Missouri first-time homebuyer programs Wisconsin first-time homebuyer programs Wyoming first-time homebuyer programs   Did you find this page helpful? Why we ask for feedback Your feedback helps us improve our content and services. It takes less than a minute to complete. Your responses are anonymous and will only be used for improving our website. Info Icon Help us improve our content Thumbs Up Icon Yes Thumbs Down Icon No Great! Tell us more The content was clear and easy to understand I found exactly what I was looking for The page layout and design worked well Additional comments (optional) 0 /200 Submit We're sorry to hear that. Please tell us more The content was confusing and hard to follow Important information was missing The page layout or design needs improvements Additional comments (optional) 0 /200 Submit Send Icon Thank you for your feedback! Your input helps us improve our content and services. Edit Icon Cite us Quick citation guide Select a citation to automatically copy to clipboard. APA: Dehan, A. (2025, March 17). Georgia first-time homebuyer assistance programs. Bankrate. Retrieved June 02, 2026, from https://www.bankrate.com/mortgages/georgia-first-time-homebuyer-assistance-programs/ Copied to clipboard! MLA: Dehan, Andrew. "Georgia first-time homebuyer assistance programs." Bankrate . 17 March 2025, https://www.bankrate.com/mortgages/georgia-first-time-homebuyer-assistance-programs/. Copied to clipboard! Chicago: Dehan, Andrew. "Georgia first-time homebuyer assistance programs." Bankrate. March 17, 2025. https://www.bankrate.com/mortgages/georgia-first-time-homebuyer-assistance-programs/. Copied to clipboard! Share Icon Share this article Share Icon Share this article Facebook Icon Twitter Icon LinkedIn Icon Email Envelope Icon Close Written by Andrew Dehan Arrow Right Icon Senior Writer, Home Lending Connect with Andrew Dehan on LinkedIn LinkedIn Icon Read more from Andrew Andrew Dehan writes about home loans, real estate and personal finance. He's taken the NMLS Loan Originator education classes and passed the MLO SAFE test. Besides Bankrate, his work has been published by Rocket Mortgage, Forbes Advisor and Business Insider. He’s also a poet, musician and nature-lover. He lives in metro Detroit with his wife and children. Article sources Caret Down Icon We use primary sources to support our work. Bankrate’s authors, reporters and editors are subject-matter experts who thoroughly fact-check editorial content to ensure the information you’re reading is accurate, timely and relevant. “ Georgia Housing Market. ” Redfin. Accessed on March 17, 2025. “ United States Housing Market. ” Redfin. Accessed on March 17, 2025. “ Assistance Programs & Incentives. ” InvestAtlanta. Accessed on March 17, 2025. “ Down Payment Assistance. ” Atlanta Housing. Accessed on March 17, 2025. “ DreamMaker Home Purchase Assistance. ” City of Savannah. Accessed on March 17, 2025. “ Homeownership. ” City of Augusta. Accessed on March 17, 2025. You may also like Types of LLC loans Small Business By Allison Martin 7 min read How to invest in mutual funds: A guide for beginners Investing By Brian Baker, CFA 7 min read What is mortgage interest and how does it work? Mortgages By Kacie Goff 4 min read What is the graduated repayment plan for student loans? Student Loans By Dori Zinn 2 min read