Tuesday, March 16, 2010

DCA rewards first-time homebuyers for good credit

by Beth Spears
Georgia Department of Community Affairs

“REWARDS” is the newest lending option offered by DCA’s, Georgia Dream Homeownership Program.

The program offers Georgia homebuyers who have maintained or rebuilt to a minimum 660 credit score $5,000 in down payment assistance if the purchase price is $150,000 or less, and $7,500 if the purchase price is more than $150,000.

The Georgia Dream “REWARDS” program provides downpayment assistance to borrowers in Glynn County with annual household incomes of up to $61,000 for one-to-two persons households, and $72,000 for households of three or more persons.

Eligible borrowers must meet the credit requirements for an FHA, VA or USDA first mortgage loan.

For more information on the Georgia Dream Homeownership Program, and for a list of lenders, go to www.dcaloans.com or call 1-800-359-HOME (4663).

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