Atlanta, GA: The state of Georgia has introduced the “Georgia Dream Peach Plus Loan” program to help the residents of the state to buy their homes.
This program, implemented by the Georgia Housing Finance Authority, aims to assist individuals who are eligible for Federal Housing Administration (FHA) loans but may not meet the requirements for the standard Georgia Dream loan program.
The Georgia Dream Peach Plus program provides a 30-year fixed FHA loan at market rates, along with expanded income limits and a greater purchase price allowance.
The program will provide financing with very competitive rates and will broaden affordability options for homebuyers.
Down payment assistance, including standard assistance and specialized assistance for certain professions like educators and nurses as per FOX5 Atlanta.
These features are designed to provide opportunities for families who may have been left out of traditional homeownership programs because of limited affordability options.
To be eligible for the program, borrowers need to meet certain criteria. This includes having a credit score of at least 640, meeting the Debt-To-Income (DTI) requirements, having a household income that does not exceed 150 percent of the Average Median Income, and completing the HUD-approved Homebuyer Education.
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