METRO ATLANTA HOMEBUYER OPTIONS

Need Help With Your Down Payment?

You may have more homebuying options than you realize. Answer a few quick questions and we'll help you explore down payment and financing options that may fit your situation.

No obligation. Eligibility depends on lender and program requirements.
A BETTER PLACE TO START

Don't Let the Down Payment Stop You From Exploring Homeownership

There are financing and down-payment options designed to help qualified buyers reduce the amount of cash they may need upfront. The right option depends on your credit, income, financing, home price, property and individual situation.

1

Tell Us Your Plans

Answer a few simple questions about when you want to buy, your credit range and what type of help you may need.

2

Explore Your Options

Your answers help us identify financing and down-payment possibilities that may be worth discussing with a mortgage professional.

3

Plan Your Next Step

Whether you're ready now or need time to prepare, we'll help you understand the next step toward purchasing a home.

START WITH A FEW QUESTIONS

You May Be Closer to Buying a Home Than You Think

See whether down-payment or financing options could help reduce the cash you may need to purchase a home.

DOWN PAYMENT HELP FAQ

Questions Buyers Often Ask

Understanding the possibilities is the first step. Here are answers to several common questions.

Possibly. Some mortgage and down-payment assistance options are designed to reduce the amount buyers must provide from their own savings. The amount available and requirements depend on the financing program, lender guidelines, credit profile, property and other factors.
No. Some current down-payment assistance options are available to both first-time and repeat homebuyers, provided the buyer meets the applicable mortgage and assistance requirements.
Some down-payment assistance options may be available with a minimum credit score around 600. Final eligibility depends on the lender, mortgage guidelines, credit history and the buyer's complete financial profile.
Some assistance options currently do not have household income limits. Borrowers must still meet the income, employment, debt-to-income and other underwriting requirements for the mortgage itself.
Depending on the financing option and borrower qualifications, assistance may be available in amounts ranging from approximately 3.5% up to 5% of the home purchase price or eligible loan amount.
Not necessarily. Assistance can be structured in different ways. Some options may be repayable through a second mortgage, while others may be forgivable when specific requirements are met.
A repayable option may be structured as a 10-year second mortgage with a monthly payment and an interest rate approximately 1% higher than the first mortgage. A forgivable option may be structured as a 30-year second mortgage at 0% interest with no monthly payment, subject to the applicable forgiveness requirements.
Under the current structure, the forgivable second mortgage may become fully forgiven after the borrower makes 36 consecutive on-time payments on the first mortgage, provided all applicable program and servicing requirements are met.
It depends on the assistance option. The repayable second-mortgage option generally includes a monthly payment. The forgivable second-mortgage option may have no monthly payment and may become eligible for forgiveness after the required period of consecutive on-time first-mortgage payments.
The current assistance structure being reviewed is available with FHA financing only. VA, USDA and conventional options are not currently available under this specific assistance option. Other financing or assistance programs may have different requirements.
Depending on the transaction, assistance, seller concessions, lender credits, builder incentives or other permitted funds may help reduce the buyer's total cash requirement. What can be combined depends on the mortgage and assistance guidelines.
Potentially. Seller concessions and builder incentives may sometimes be used with eligible financing assistance, subject to the limits and requirements of the mortgage being used.
Potentially, yes. Eligibility depends on the buyer, property, financing, lender and applicable assistance requirements rather than simply whether the home is new or previously owned.
Potentially. The property must meet the requirements of the mortgage being used. Condominiums may also be subject to additional FHA, project, association or lender requirements.
Potentially, yes. Manufactured housing may be eligible when the property meets FHA, lender and assistance-program requirements.
Potentially, yes. Properties with up to two residential units may be eligible, provided the property and borrower meet FHA, lender and assistance-program requirements.
That does not necessarily mean homeownership is off the table. We can help you identify your next step and connect you with a mortgage professional who can explain what may need to improve before you apply.
No. Completing this questionnaire does not require a credit inquiry. A mortgage lender may later request authorization to review your credit if you decide to apply for financing.
No. The questionnaire helps identify options that may be worth exploring. Final eligibility, loan approval, assistance availability, interest rate, monthly payment and loan terms are determined by the participating lender and applicable program requirements.
YOUR NEXT MOVE

Find Out What Homebuying Options May Be Available to You

Start with a few questions. There is no obligation and completing the questionnaire will not affect your credit.

Quillie Real Estate TEAM at Maximum One Greater Atlanta Realtors
678-573-6100  ·  Buyer line Equal Housing Opportunity
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