MBCAHF DOWN PAYMENT ASSISTANCE
MBCAHF Down Payment Assistance (DPA) helps qualified homebuyers bridge the gap to homeownership by providing support for down payments, closing costs, and other financing needs—making monthly payments more manageable and affordable. Eligible properties are listed below, and buyers must qualify for bank or mortgage financing that meets program requirements.
ELIGIBLE BUYERS
Have a household income at or below 120% Area Median Income
Provide requested documents timely
Will own and occupy home as primary residence
Have 620+ credit score
Contribute at least $1,000
Complete funder approved homebuyer class
Obtain loan from approved lender
Apply to Georgia Dream (if qualified)
TERMS
MBCAHF DPA typically ranges between $5,000 and $25,000.
MBCAHF DPA is a 5-year non-amortizing subordinate loan at 0% interest, forgiven over 5 years.
20% of the loan is forgiven each year for 5 years.
The unforgiven portion of MBCAHF DPA is repayable if the buyer relocates, sells, refinances or defaults within 5 years.
Funds will be released to the buyer’s attorney at closing.
AVAILABLE PROPERTIES
The properties listed below are subject to a 20-year affordability period, as outlined in a restrictive deed. During this period:
The property must be maintained as an owner-occupied, single-family residence.
If the property is offered for resale, it must be sold as an affordable housing unit.
If the property is offered for resale, the buyer must meet eligibility requirements, specifically having a household income at or below 120% of the area median income.
Now Available
For more information contact:
Ceirra Johnson
T 478-254-2300
M 478-390-5832
Ceirra@Sayyes2theaddress.com
Now Available
For more information contact:
Ceirra Johnson
T 478-254-2300
M 478-390-5832
Ceirra@Sayyes2theaddress.com