FHA-qualified borrowers who do not meet the eligibility requirements for the traditional Georgia Dream program are able to apply for the Georgia Dream Peach Plus Loan Program. The Georgia Dream Peach Plus Loan Program expands access to affordable homeownership opportunities across our state. By serving a wider range of borrowers, including those with non-conforming loans, this program helps make the dream of homeownership a reality for more Georgia families.
GEORGIA DREAM
PEACH PLUS
FINANCIAL CRITERIA
First-time homebuyer requirement is waived for this program!
HUD Metro
Standard (All eligible homebuyers may qualify!) : 3.5% of purchase price (up to $10,000) Protectors/Educators/Nurses & Household with Disability (PEN/Choice): 4% (up to $12,500) DOWN PAYMENT ASSISTANCE BORROWER REQUIREMENTS Must meet FHA or VA credit and income guidelines, including credit score minimum of 640 Household income cannot exceed 150% of area median income Liquid assets limited to $20,000 or 20% of the sales price HUD ‑ approved homebuyer education is required -Loans are 30-year fixed low interest rate mortgages. Participating lenders give credit approval for FHA mortgage loans. -Interest rate is determined by market rates and is set by Ga Dream. The rate is higher than the regular GA Dream Loan Program. -Down payment assistance options are available -Second mortgage is deferred, 0% interest, no monthly payment
Maximum home sales price is up to $650,000 Maximum income limits are up to:
$195,435 (1-2 persons) $224,750 (3+ persons)
Athens MSA
Maximum home sales price is up to $575,000 Maximum income limits are up to:
$169,740 (1-2 persons) $198,030 (3+ persons)
All Other GA Counties
Maximum home sales price is up to $500,000 Maximum income limits are up to:
$147,600 (1-2 persons) $169,740(3+ persons)
DeAnn Ellis Davidson Senior Mortgage Consultant NMLS# 148916 | GA MLO# 25670 120 Second St. Suite 100 Monroe, GA 30655 Office: 855-ELEMENT Cell (770) 616.8042 EllisMortgageTeam.com DeAnnEllis@elementhl.com
Equal Housing Lender. Make sure you understand the features associated with the loan program you choose, and that it meets your unique financial needs. Subject to Debt-to-Income and Underwriting requirements. This is not a credit decision or a commitment to lend. Eligibility is subject to completion of an application and verification of home ownership, occupancy, title, income, employment, credit, home value, collateral, and underwriting requirements. Not all programs are available in all areas. Offers may vary and are subject to change at any time without notice. Equal Housing Lender. MLO licensing information: . NFM, Inc. d/b/a NFM Lending. For NFM, Inc.’s full agency and state licensing information, please visit www.nfmlending.com/ licensing. NFM, Inc.’s NMLS #2893 (www.nmlsconsumeraccess.org). NFM, Inc. is not affiliated with, or an agent or division of, a governmental agency or a depository institution. © 2024 NFM, Inc. dba NFM Lending. America’s Common Sense Lender® Trade/service marks are the property of NFM, Inc. and/or its subsidiaries. Licensed by the Department of Financial Protection and Innovation under the California Residential Mortgage Lending Act.
Made with FlippingBook - PDF hosting