The Georgia Dream CHOICE Program
Welcome, from the Georgia Department of Community Affairs. We’re the folks who bring you the Georgia Dream Homeownership Program.
In addition to Georgia Dream’s affordable home mortgage plan and general down payment assistance, the program also provides special down payment assistance through its CHOICE program.
CHOICE stands for Consumer, Home Ownership, Independence, Choices for Everyone and is for home buyers who have a family member living with a disability.
Again, this program provides additional down payment assistance to help households who have any family member living with a disability. This is not just the buyer, not just the qualifier, or the borrower on the loan, but any family member. It can be a child, a grandparent, or anyone who is a household member and living in the home to be purchased.
The program provides $7,500 in subordinate financing for the payment of closing costs, pre-paid items, and the reduction of the first mortgage. It is a loan -- it’s not a grant. Someday, the homeowner will have to repay the loan. But during the term of the loan, there is no interest. You repay the loan only if you sell or refinance the property.
To determine eligibility, applicants will need a Social Security disability determination letter, a certified denial from SSI -- which states that your impairment or disability exists but you’re not currently eligible for total disability, or a document from an acceptable medical source that indicates the existence of an impairment. Any disability listed on the Social Security website qualifies an applicant for our CHOICE Program.
Eligible CHOICE applicants must meet the requirements of the Georgia Dream 1st and 2nd mortgage loan programs.
This is our web page -- www.gadream.com. On this page, you can locate a participating lender, review our brochure for the most up-to-date purchase price limits and income guidelines, and locate a list of home buyer education providers.
Please call us for more information on the CHOICE Program at 404-679-4840 or 1-800-359-4663, or you may always go directly to one of our lending partners.
From the Georgia Department of Community Affairs and the Georgia Dream Homeownership Program, thanks for your interest in the CHOICE Program for down payment assistance for home buyers and their families living with disabilities. And we look forward to hearing from you with questions.
We hope we can be your partner in achieving the dream of homeownership in Georgia!