性视界传媒

Down payment assistance

The DCA recently announced the launch of a new loan program aimed at expanding down payment assistance for Georgia individuals and families looking to become homeowners.

The Georgia Dream Peach Advantage Loan Program kicked in July 1, offering assistance options from 2-5%, with what officials call 鈥渟ignificant upfront savings鈥� in hopes of making homeownership more accessible for all Georgians.

Key points to the program include the following:

Eligibility鈾� 鈥� Any borrower who qualifies for a traditional Georgia Dream loan is eligible to apply for the Peach Advantage Loan Program starting July 1.

Interest rate鈾� 鈥� The interest rate for the Peach Advantage Loan Program is structured in alignment with the level of down payment assistance selected.

Exclusivity鈾� 鈥� The Georgia 性视界传媒 of Community Affairs collaborates exclusively with Lakeview Loan Servicing, LLC, who sponsors the Georgia Dream Peach Advantage Loan Program.

Maximum home sales price鈾� 鈥� The maximum home sales price varies by county. Counties within the Atlanta Metropolitan Statistical Area have a maximum sales price of $650,000. Counties within the Athens Metro MSA have a maximum sales price of $575,000. All other counties have a maximum home sales price of $500,000.

Other down payment assistance programs鈾� 鈥� Borrowers may still utilize other down payment assistance programs in conjunction with the Peach Advantage Loan Program, subject to Georgia Dream and Lakeview Loan Servicing, LLC policies. Any subordinate financing must be submitted for review and approval.

Application process鈾� 鈥� Borrowers who have previously applied for another Georgia Dream program before July 1, and have not yet had their loan approved and purchased, will need to cancel their existing application and reapply for the Georgia Dream Peach Advantage Loan Program. It is advised to consult with your loan officer and DCA before proceeding with cancellation.

According to DCA, there are some key distinctions between the Georgia Dream Peach Advantage Program and other Georgia Dream Mortgage products, and prospective homebuyers should keep the following points in mind:

鈾� Lenders must be approved by both the Georgia 性视界传媒 of Community Affairs and Lakeview Loan Servicing, LLC.

鈾� The lender funds the first and second mortgage and Lakeview purchases the first and second loans from the lender.

鈾� The loan product type is a conventional loan with private mortgage insurance over 80.00% loan-to-value.

鈾� Reduced private mortgage insurance is available when the homebuyer性视界传媒 household income is 80.00% or less than the Area Median Income.

鈾� Allows fully delegated underwriting, closing, and funding authority to the lender.

鈾� The borrower性视界传媒 minimum investment is zero to three percent of the sales price depending upon down payment option of 0% or 2% up to 5%.

鈾� The maximum loan-to-value ratio on the first mortgage is 97%.

鈾� The maximum combined loan-to-value ratio with the second mortgage down payment assistance is 105%.

鈾� Income limitations are up to 150% of Area Median Income.

鈾� Minimum credit score is 640; however, the maximum allowable debt-to-income ratio will be determined by the Automated Underwriting System.

鈾� Manufactured housing is available with a minimum 660 credit score.

For more information about the Georgia Dream Peach Advantage Loan Program, visit online, or contact housing@dca.ga.gov via email.

Supportive Housing Institute

Back for a second year, DCA also recently announced the relaunch of the Georgia Supportive Housing Institute, a program in conjunction with the Corporation for Supportive Housing.

Back for a second year, GSHI is a training initiative that provides training and technical assistance designed to expand access to supportive housing statewide.

The five-month program provides hands-on training to development teams that focus on creating 鈥渉igh-quality, service-enriches鈥� housing for people facing 鈥渃omplex housing barriers,鈥� DCA officials say. Those barriers may include serious mental illness, veterans, domestic violence and foster care survivors, among others. Participants include developers, service providers, property managers, and other stakeholders.

鈥淭he return of the Institute reflects Georgia性视界传媒 commitment to invest in housing options for Georgians of all walks of life,鈥� said Philip Gilman, DCA deputy commissioner for housing assistance and development. 鈥淲ith CSH性视界传媒 expertise and the strength of last year性视界传媒 cohort, we are building a foundation for long-term housing solutions that are deeply rooted in community.鈥�

In its first year, the institute supported seven teams that supported an estimated 688 new housing units across Georgia, including 257 supportive units.

Program graduates were able to leave with fully developed project plans, financial models and access to long-term technical assistance, according to DCA.

鈥淕eorgia性视界传媒 first Institute was a collaborative success as teams came ready to learn, plan and build. Supportive housing is a cost-effective solution that focuses on affordable housing through cross-sector partnerships to serve residents comprehensively,鈥� said Deirdre Bolden, CSH Southeast Director. 鈥淭he Institute provides an opportunity and setting that empowers project teams to design supportive housing models that work, tailored to each community and different populations, grounded in collaboration, and built for long-term impact. We are excited to continue the momentum toward sustainable supportive housing statewide.鈥�

The program opened this week, with an application deadline of Friday, Aug. 8 at 5 p.m. Applications can be submitted at online.

An information session will be held Thursday (July 14), from 1 to 2 p.m., at and registration is required — also at online.

For full eligibility criteria, training dates, and application details contact ga-shinstitute@csh.org via email.