FREE MONEY For Those in the Military

For many, the American Dream of home-ownership has become even more desirable with the extremely low housing prices found in today’s real estate market due to the numerous foreclosures. And although the home prices are still at a record low in most parts of the nation, especially here in Metro Atlanta, I do not know anyone that would not like free money to be given towards a home purchase.  What free money?, you ask.  Well, whether you are actively serving in our nation’s military, are in the reserves, are a veteran, are an employee of the Department of Defense, or are employee of the Department of Homeland Security, you may qualify for down-payment assistance up to $5000 towards your next home purchase.

How to Get a $7500 Grant Towards Your Home Purchase

Many of us enjoy the investment matching programs offered by various employers, where for every $1 you invest in your retirement, your employer may match you with $1 or some variation.  Many capitalize on such matching programs but what if someone would match the funds you contribute to your home purchase? Here in metro Atlanta, there is such a program through the FHLBank First-time Homebuyer Program (FHP).

OWNER FINANCING: Tips On How to Make It Work

Whether you are a Buyer with less than perfect credit, a Buyer with not enough down-payment funds or just a Seller eager to sell, owner-financing maybe a viable option.  Banks generally are willing to accept rent credits for an option to buy as an acceptable down payment, but both buyers and sellers must follow these guidelines for Fannie Mae and Freddie Mac to sanction the transaction.

ALTERNATIVES TO THE TAX CREDIT: How to Get Rewarded Up to an Extra $7500 on Your GA Home Purchase

The Georgia Department of Community Affairs (DCA) has yet another new down payment assistance option to its Georgia Dream Home-ownership Program. The Georgia Dream “Plus” option (or the Rewards Program) offers down payment and closing cost assistance for first time home buyers with incomes up to 100% of their Area Median Incomes (AMI). Georgia Dream’s down payment assistance options are normally restricted to borrowers whose incomes are at or below 80% AMI. This assistance comes in the form of a second mortgage loan, with a zero percent interest rate and requires no repayment until the home is sold, refinanced, or no longer used as the principal residence of the borrower.