Solomon Greene

This one is huge! Credit eligible borrowers may now qualify for $14,000 in either rehabilitation and/or down payment assistance through participating lenders to buy and rehabilitate a FORECLOSED home within the state of Georgia. Borrowers may purchase and renovate single-family homes, townhomes, condominiums and even modular homes all priced up to the FHA Limit. Georgia first time home buyers may still qualify for the $8,000 tax credit. All borrower pay back this zero-interest second mortgage only when the property is sold, refinanced or is no longer used as the borrower's primary residence and is forgivable after around five and one-half years.

So what's different about this program versus the other down payment assistance programs?

• Obviously, the $14,000 dollar amount and higher purchase price available are the most significant differences
• The income limits are higher than other down payment assistance programs, so higher income households may now be included
• The State of Georgia's first mortgage is not required, so borrowers may obtain an FHA or VA mortgage at more competitive interest rates
• There is no first-time home buyer status requirement, so those who have owned a home within the past three years may benefit

Be sure to read the flier to the left of the screen at http://www.GeorgiaFirstTimeHomeBuyer.Blogspot.com for income limits for household family sizes. If you are not currently working with a real estate agent, please call me today to find out more about the Neighborhood Stabilization Program and other Georgia First Time Home Buyer Programs.

So you want to buy a home but have limited funds for a down payment and your household income exceeds the program guidelines for assistance. Consider using an FHA mortgage to purchase a HUD-owned home. For a limited time, $100 is all that is needed for credit eligible owner-occupant buyers to purchase a HUD-owned home using FHA Financing or for those obtaining an FHA home repair loan. This program differs from the Georgia First Time Home Buyer Program (but can be combined with it) because,

• It may be used regardless of whether the buyer has owned a home within the past three years
•· There are no limits on the amount of household income
•· First time home buyers (or those who have not owned a home in the past three years and meet the income test) may have access to the Federal Tax Credit.

Further, HUD will likely still contribute up to three percent toward buyer closing costs, which could make the total funds required of the buyer to close well within reach.

Are you concerned about the conditions of a HUD-acquired home? Some very fine properties, condos, townhomes, single-family homes, are available throughout the City of Atlanta in some of the city's top high school clusters, many of them either currently in move-in condition or within a few thousand dollars of being ready for move-in. In the latter case, HUD may agree to loan the buyer funds to bring the property up to move-in condition. See http://www.TheAtlantaHomePages.com for details and virtual tours of homes in top performing high school clusters in Gwinnett, North Fulton, and Dekalb County. Please call me for information on HUD owned homes in other areas.

How does the combination of the HUD $100 Down Payment Incentive work with the Georgia First Time Home Buyer Program? Remember that the Georgia First Time Home Buyer Program has two components. The entire program involves highly competitive interest rates, reduced closing costs and flexible credit approval guidelines which is of benefit to all qualified borrowers. In addition, qualified borrowers within income guidelines could apply a greater amount of the second component, the down payment assistance, toward the principal and further lower their monthly payments.

This is just one more reason why now is a great time to buy a home. You can get qualified right over the telephone. For more information, please call today at (678) 775-2677.

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This two-bedroom, two-full bath Dunwoody, Georgia Condo presented by http://www.TheAtlantaHomePages.com is loaded with extras. The roommate floor plan offers walk-in closets, a living room and dining room combination along with flex space and a laundry center adjacent to the galley kitchen. The unit offers tall, smooth ceilings, several windows that allow in plenty of natural light, central heating and air and a gas fireplace for comfort. Other decorative features include hardwood floors throughout most of the unit, Berber bedroom carpet, a marble tile hearth around the fireplace, crown molding, ceramic bath tile, tiled kitchen backsplashes and more.

This Dunwoody, Georgia swim and tennis community is within a mile of public transportation (MARTA Bus service) in the North Springs High School Cluster where students consistently exceed state and district benchmarks on standardized exams. The community features stucco exteriors, sitting areas, landscaped lawns, speed bumps and ample parking spaces. For more information on Dunwoody, Georgia homes, Metro Atlanta, Georgia foreclosures and more, visit http://www.TheAtlantaHomePages.com today.

Georgia first time home buyers may qualify for an interest-free, monthly payment-free second mortgage to offset the expenses associated with their down payments and closing costs. This second mortgage does not require repayment until the home is sold, refinanced or is no longer used as the borrower's primary residence. For more information, call the 24-hour hotline today at (678) 775-2677 or visit http://www.GeorgiaFirstTimeHomeBuyer.Blogspot.com today.