Tip:
Highlight text to annotate it
X
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 homebuyers who have a family member living with a disability.
We call this program our CHOICE Program -- Consumer, Home Ownership, Independence, Choices for
Everyone. Again this program provides additional down payment assistance to assist households
who have any family member living with a disability. This is not just the buyer, not just the qualifier,
the borrower on the loan, but any family member. It can be the child, the grand parent, anybody
who is a household member and living in the home to be purchased.
The program provides $7,500 in subordinate financing for the payment of closing costs,
pre-paid items and the reduction of the 1st mortgage. This is a loan, it's not a grant.
Some day you'll have to pay it back, but during the term of the loan there is no interest.
You repay the loan only if you sell or refinance the property.
To determine of you are eligible, you would need a social security disability determination
letter, a certified denial from SSI which states that your impairment or disability
exists, but you're not currently eligible for total disability or a document from an
acceptable medical source that indicates the existence of an impairment. Any disability
listed on the social security website qualifies you for our CHOICE Program.
Eligible CHOICE applicants must meet the requirements of the Georgia Dream 1st and 2nd mortgage
loan programs. This is our web page, www.gadream.com. On
this page you can locate a participating lender, review our brochure for the most up to date
purchase price limits and income guidelines and locate a list of home buyer education
providers. Please call us for more information on the CHOICE Program at 404-679-4840 or 1-800-359-4663
or you may always go directly to one of our lending partners.
This is Beth Spears with the Georgia Department of Community Affairs, Georgia Dream Homeownership
Program. Thanks for your interest in our CHOICE down payment assistance program. Please call
us if you have questions.