Purpose: Help Georgians achieve the dream of home ownership by providing affordable first mortgage financing and down payment assistance.

Are you looking at Homes for Sale in Warner Robins GA and having trouble coming up with the 3.5% down payment required by FHA? Then the Georgia Dream Homeownership Program may work for you.

Georgia Dream Second Mortgage loan can be used for down payment and closing costs associated with a purchase of a home in Warner Robins GA for first time homebuyers with a total household income of one to two person – less than $58,000, and three or more persons – less than $67,000. First time homebuyer requirement waived for targeted areas. A first time homebuyer is someone who has not owned home in the last 3 years.

* 1st Mortgage – Must qualify based on credit score and debt to income for specific loan type, such as VA, FHA, Conventional, or USDA-RD
o Maximum Purchase Price: $200,000
o Interest Rate as of 28 Mar 2008 is 6.75%
o Owner Occupant Only
o Mobile Homes are not included
* 2nd Mortgage – $5,000 to $10,000
o Must qualify for and get 1st Georgia Dream Mortgage
o No Interest
o No Monthly Payments
o No payment due until home is sold, refinanced or no longer used as the borrower’s principal residence.
o Income limits are based on County
o 2nd Mortgage loan amounts vary between applicants
+ Standard: $5,000 – All eligible homebuyers
+ PEN: $7,500 – Military, Health Care, Education
+ CHOICE: $7,500 – Eligible homebuyers whose household includes an individual living with a disability.
# If income is less than $29,999 then $10,000 instead of $7,500
HONORS: Surviving spouse of a military serviceman or servicewoman or of a public protector: $10,000
+ WECOME HOME: Members of Georgia Army and Air National Guard who purchase a home in the State of Georgia.
+ SIGNATURE COMMUNITY: Eligible employees of local governments designated as Signature Communities: $7,500
+ EV: Energy efficient and/or visitable homes that certified to meet the Energy Star, Easy Living Home or EarthCraft House program requirements: $7,500
+ SINGLE FAMILY DEVELOPMENT: Affordable homes constructed under this special development program: $7,500 – $20,000

John Cobb
Coldwell Banker SSK Realtors
Warner Robins Real Estate
Homes for Sale in Warner Robins GA
(478) 396-2440