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Grant Programs

Happy Thursday – I hope you are doing well. For this week’s video, I want to share two grant programs we provide to help clients with their down payment or closing costs. I have put the details below but please call us if you have any questions.

First Time Home Buyer Grant

  • $5,250 towards down payment or closing costs and $500 appraisal credit for properties in certain census tracts.

  • Qualification is based on the buyer's current address, not the property they are buying. The address must be in an eligible census tract designated by Fannie Mae.

  • Atlanta – Sandy Springs – Roswell, GA area is one of the six areas that may qualify. Please note, not all addresses qualify.

  • At least one borrower on the application must be a first-time homebuyer.

  • No income limits. This is huge as most grants have income caps.

2% Grant - Does not have to be first time home buyer.

  • 2% of purchase price of property towards down payment or closing costs.

  • Income must be less than 80% of Area Medium Income - $82,320 max income for most areas around Atlanta.

  • Max Loan Amount $350k.

Stewart Sadler

Managing Partner

Cornerstone Mortgage Group

Georgia Residential Mortgage Licensee: 21412 • Company NMLS: 147913 • Individual NMLS: 147938

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