Georgia ACT recently received a grant from Metro Fair Housing Services to implement the Inclusive Communities Down Payment Assistance Program (ICDPA). The program provides low-to-moderate income individuals (with household income of 80 percent or less of area median income) with the opportunity to become homeowners in neighborhoods of color adversely affected by the foreclosure crisis: in Southwest Atlanta, City of Atlanta residential properties with a “Southwest (S.W.)” designation in the address; and in South DeKalb County, DeKalb County residential properties located south of GA State Route 10/US Route 78.
This program will provide stability in Southwest Atlanta and South DeKalb County communities with a Gift towards down payment assistance and/or closing costs up to $7,500, inclusive of a $1,100 Program Fee. The purchase must be for a primary owner-occupied residence in qualified Communities. ICDPA will provide down payment assistance on a case-by-case basis. ICDPA reserves the right to terminate the down payment assistance program at its discretion. The down payment assistance program is designed to work complimentary with FHA 203B, FHA 203K, VA, USDA, Owner Occupant Fannie Mae Conventional and Renovation loan, HFA Preferred Conventional Loan, Freddie Mac Conventional loan underwriting criteria and Lender Portfolio Owner Occupant Conventional loan.
For program details, including borrower and property eligibility requirements, please visit http://www.icdpageorgia.com/