Georgia first-time homebuyer assistance programs
If you’re hoping to buy your first home in the Peach State, you might be relieved to learn that Georgia falls well below the national average in terms of home costs. The median sale price for a home in the state was $367,000 as of February 2025, according to Redfin, while the national median was $425,061.
However, no matter how much your home costs, it’s likely to be the biggest purchase you’ve ever made. And Georgia offers plenty of pathways to first-time homeownership, especially through the Georgia Department of Community Affairs’ Georgia Dream mortgage products.
Georgia first-time homebuyer programs
Georgia Dream
Georgia Dream is a 30-year, fixed-rate mortgage program for first-time homebuyers using conventional, FHA, VA or USDA loans.
As with many housing programs, a first-time buyer is someone who has not owned a home in the last three years. Buyers who have owned a home more recently may still qualify for Georgia Dream by buying in a target area.
Georgia Dream Peach Plus
If you don’t meet the requirements for the Georgia Dream program, but you qualify for an FHA loan, you may be eligible for the Peach Plus program, which has higher income and home price limits.
Georgia Dream Peach Select Veterans Assistance
Veterans who plan to buy with a VA loan may qualify for this program, which offers a 30-year fixed loan at a below-market rate, currently 5 percent. You don’t need to be a first-time buyer to qualify for this program, and most VA borrowers aren’t required to make a down payment.
Georgia down payment assistance and grants
Georgia Dream Down Payment Loan
The Georgia Dream program includes down payment assistance worth up to $10,000 or 5 percent of the purchase price, whichever is less, in the form of a zero-interest second loan that doesn’t require monthly payments. The loan comes due only if your home is no longer your primary residence or you refinance. Certain borrowers — including those in some public service professions, active military or those with a disabled family member — can receive up to $12,500 or 6 percent of the purchase price, in assistance.
City-specific homebuyer assistance programs
Atlanta: Invest Atlanta Vine City Renaissance Initiative (VCRI)
This program offers up to $20,000 in the form of a forgivable loan to prospective homebuyers in Atlanta’s Vine City. You must qualify for a conventional, FHA or VA loan through an Invest Atlanta-affiliated lender, and you must remain in the home for five years to receive loan forgiveness. Although this program is open to repeat buyers, you may not currently own property.
Atlanta: Invest Atlanta Intown Mortgage Assistance Program
This program also offers up to $20,000 as a forgivable loan for Atlanta homebuyers. Like the Vine City program, you’ll receive forgiveness after living in the home for five years, and you may qualify with a conventional, FHA or VA loan obtained through an Invest Atlanta-affiliated lender. You may have owned other property in the past, but not at the time of your application. The programs’ other requirements vary slightly.
Atlanta: Atlanta Affordable Homeownership Program
This program offers up to $20,000 — or $25,000 for professionals in certain fields — to first-time homebuyers within Atlanta city limits. The funds are a no-interest loan that’s fully forgiven if the home remains your primary residence for 10 years. Borrowers must qualify for a conventional, FHA or VA loan with a fixed rate and a 15- or 30-year term; many programs require a term of at least 30 years.
Savannah: DreamMaker Home Purchase Assistance
Savannah’s DreamMaker program features deferred payment 30-year loans with 2 percent interest to offset down payment and closing costs, as well as provide gap funding. If your housing is developed in partnership with the city of Savannah, you may qualify for up to $50,000. Otherwise, you may qualify for up to $30,000.
Augusta: Homeownership Assistance Program
Augusta’s down payment assistance program provides eligible homebuyers up to $5,000 to be used for down payment or closing costs. The assistance is forgiven if you live in the home for at least five years.
Other Georgia first-time homebuyer loans
Along with looking up Georgia Dream and local programs, you can consider these national programs which help first-time buyers:
- FHA loans: Loans insured by the Federal Housing Administration (FHA) have more lenient financial requirements than other loans. If you have at least a 580 credit score, you may qualify to put as little as 3.5 percent down with an FHA loan.
- VA loans: For qualifying active-duty military, veterans and surviving spouses, a loan guaranteed by the U.S. Department of Veterans Affairs (VA) is a great option. These loans come with lower interest rates than conventional loans and typically don’t require a down payment.
- USDA loans: Loans guaranteed by the U.S. Department of Agriculture (USDA) also don’t require a down payment, but you’ll need to buy in a designated rural area and meet income requirements.
- HomeReady and Home Possible loans: HomeReady and Home Possible are loan programs created by government-sponsored enterprises Fannie Mae and Freddie Mac. They’re specifically for first-time homebuyers, require only 3 percent down and have more flexible income requirements.
Get started
Lining up assistance is just one step toward buying a home. You’ll also want to:
- Study up on the housing market in Georgia: This can help you understand what you might be able to afford where you live now, or if you relocated.
- Improve or maintain your credit score: When you are ready to buy a home, your credit score will influence the type of mortgage and rates you can access.
- Learn more about what it means to buy a house in Georgia: Before committing to a home, find out more about the state and how its climate, cost of living, property taxes and other factors might impact you. A qualified, local real estate agent is also key.
- Compare mortgage lenders: Read reviews of local mortgage lenders to get an idea of which specialize in the mortgage type you’re after, as well as what you can expect in terms of customer service and fees.
- Shop mortgage rates: It can pay off to shop around for the best mortgage rates before you commit to a loan.
- Purchase homeowners insurance in Georgia: Your mortgage lender will require you to have a homeowners insurance policy, and shopping around can help you find the best coverage for the lowest rate.
