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Hi, I'm Beth Spears with the Georgia Department of Community Affairs, the folks who bring
you the Georgia Dream Homeownership Program. The Georgia Dream Homeownership Program provides
special down payment assistance for protectors, educators and the screen says nurses but this
is actually all healthcare workers. These protectors, educators and healthcare workers
can qualify for $7,500 in down payment assistance, combined with the Georgia Dream first mortgage
loan. The next three screens will help you determine if you qualify based on the guidelines
for who is a protector, who is a healthcare worker and who is an educator?
This screen talks about protectors. Protectors are employees or active duty personnel of
police departments, sheriff's office, corrections departments, Georgia Department of motor vehicles,
even the TSA, those folks that now protect us at our airports. We include volunteer fireman
and of course those local state and federal fire department employees and also those employed
in the military. All armed forces including Army, Navy, Air Force, Marine Corps and Coast
Guard and the Army and Air National Guard. Please consult with your lender to find out
if you qualify as a Protector for additional down payment assistance with Georgia Dream.
All employed in the field of education also qualify for additional down payment assistance.
Education employees are those of local city or county school boards recognized by the
state or accredited by a state or regional accrediting association. This also includes
Head Start programs, PreK, elementary and high school teachers and all other employees
in this field. Private school systems that are recognized by the state and also employees
of postsecondary institutions. This doesn't just include teachers, this means everybody;
bus drivers, counselors, secretaries and folks who work preparing lunches for our children
each day. In the healthcare field, all healthcare employees,
that means if you are paid by a health care facility, you qualify. It's not limited to
but includes hospitals, medical and dental offices, health departments, nursing homes,
pharmacy techs, assisted living workers, Red Cross employees, home healthcare workers,
Chiropractors and other different types of fields. If you think you may qualify, consult
with your lender. This down payment assistance comes in the
form of a $7,500 down payment assistance loan. This is a loan; you have to repay it if you
ever sell the home or refinance the home. But during the whole term of the loan whether
it is for 5 years or 30 years there are no monthly payments, no interest and again you
don't have to repay it unless you sell or refinance. This is subordinate financing for
the payment of closing costs, prepaid items or the reduction of your first mortgage loan
at closing. Eligible applicants for the PEN program will
meet the requirements of the Georgia Dream 1st and 2nd mortgage loan programs as well
as the requirements of the loan that you are being qualified for, FHA, VA, USDA or conventional.
The screen in front of you now, shows you our Georgia Dream web page. The web address
is www.gadream.com and all current information on the program can be found here. Click on
homebuyer to locate a participating lender, review our brochure or locate a homebuyer
education provider. Again, we'd be glad to help you with a Georgia
Dream loan and lenders across the state would also be glad to help you. To contact us at
Georgia Dream please call 404-679-4840 or 1-800-359-4663. This is Beth Spears with the
Georgia Department of Community Affairs, Georgia Dream Homeownership Program. Thanks for your
interest in the PEN Program and we look forward to hearing from you with questions.