Down Payment Assistance (DPA)
Unless you are paying cash for the entire purchase price of a home, you will most likely need a mortgage loan. Mortgage loans require the homebuyer to pay a portion of the home purchase price at closing. This "down payment" amount varies based on the lender and the loan product you select (FHA, VA, Conventional, or a lender's in-house loan, typically called a "portfolio product").
Down payment assistance programs are available from nonprofit organizations, local, state, and federal agencies. They can be administered by a local or state housing authority, a nonprofit organization, or directly through your lender. These organizations provide a set amount of money to qualified homebuyers. Homebuyers who meet program qualifications and requirements can use the money to cover their down payment and/or closing costs.
Below you will find a summary of all assistance programs available through ANDP.
DPA available through ANDP
Keep in mind that each program is different and has different program qualifications and requirements. See a side-by-side comparison of all ANDP-related programs here
TRADITIONAL DPA PROGRAM
ANDP-FHLBank Atlanta DPA Program provides between $7,500-$10,000 in down payment assistance to qualifying homebuyers with a household income of less than 80% of area median income. These funds can be used to purchase an ANDP home or any other existing home and is available on a first-come-first-serve basis. This program is affiliated with the Federal Home Loan Bank of Atlanta. MORE
HOME PURCHASE PAIRED WITH DPA
HOME - The Federal HOME program provides homebuyer assistance strictly based upon the borrower's need and amounts vary depending on the jurisdiction. Homebuyer's household income can not exceed 80% of area median income for this program. ANDP has been selected to provide home sales with down payment assistance in the City of Atlanta and DeKalb, Fulton, and Gwinnett counties. We typically have no more than 6-8 homes available in this program at any given time. Search here and select the "HOME Program" in the search field.
ANDP Veterans Program - Provides up to $7,500 in homebuyer assistance to any honorably discharged veteran, active-duty military personnel, reserve member, guard member, or Gold Star family member. Assistance provided comes in the form of seller contribution at closing. Qualifying participants can use these funds only for the purchase of an ANDP property.
ANDP-FHLBank Atlanta DPA Program
Documentation & Application Portal
AS OF 3/7/2022
APPLICATIONS ARE NOW OPEN
HOW TO USE THIS PROGRAM
Lenders, if you were not able to participate in the March 2 training webinar, please view the slides here or the recording here.
The Source of funding for this program is the Federal Home Loan Bank of Atlanta's AHP set-aside program. As a member institution, ANDP has access to up to $500,000 in the 2022 funding year.
Currently available to ANDP: $437,500 (5/16)
Currently pool available: $2,138,090.10 (5/16)
Note: Application must be completed in one session. No saving work and returning later.
Optional Forms, Tools, Resources
Lenders: Note the application will ask for these forms as attachments to the application.
This program is available to qualifying homebuyers purchasing homes located in the 29-county Atlanta MSA area. Counties include Barrow, Bartow, Butts, Carroll, Cherokee, Clayton, Cobb, Coweta, Dawson, DeKalb, Douglas, Fayette, Forsyth, Fulton, Gwinnett, Haralson, Heard, Henry, Jasper, Lamar, Meriwether, Morgan, Newton, Paulding, Pickens, Pike, Rockdale, Spalding, and Walton.
Additional DPA Tips
Looking for down payment assistance? Visit www.DownPaymentResource.com for detailed information about assistance programs available in your area.
STATE - Georgia Dept of Community Affairs
LOCAL - Your city or county may also have DPA funds. Here are a few we are a few examples.
Keep in mind that there are several types of homebuyer assistance programs. Visit this page to learn more.