Great news to Atlanta, GA metro home buyers! A brand new government program has just been released giving home buyers EVEN more buying power! Its called the Georgia Dream NSP Program. This program offers buyers $14,000 of free money to use as a down payment and/or home repairs. AND this can be used in conjunction with the, already in place, $8,000 tax credit. (Buyers have to qualify for each separately). What a great deal huh? There are some limitations to qualify for NSP Program and I will mention a few. The home has to be a foreclosure. The buyer has limitations to how much income they generate, that are based on the area they are buying in, and the number of occupants planning to occupy the purchased property. You must have an accepted contract that a minimum of 15% less than the fair market value. This means you must get the property appraised up front.
This used alone or in combination with the $8,000 tax credit! This means big savings!!
BEST PART- you don't have to be a first time buyer!
Please feel free to contact me, to discuss more details!!
Cameron Crossman
Associate Broker
Prudential Georgia Realty
Phone 804.814.2480
Text 804.814.2480
Email cameroncrossman@mac.com
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The Economic Stimulus Bill was passed and signed by the President in February 2009. This raised both conforming and FHA loan limits to $729,750 (in high cost areas). That means financing will be more affordable for more potential buyers.
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