Georgia statewide first-mortgage assistance
Pairs with an FHA, VA, USDA or conventional first mortgage. Requires a homebuyer education certificate and a minimum $1,000 borrower contribution.
Community lending
Money that goes unclaimed every year
Georgia sets aside real assistance for first-time buyers. Applications add paperwork and pay a lender nothing extra, which is exactly why most offices skip them.
Sample programs$7,500 to $20,000Forgivable or deferred
Six programs we work with
Sample illustrations of the kinds of assistance available in Georgia. Amounts, limits and availability change, so treat these as a shape rather than a promise.
Up to $10,000 Up to $12,500 Protected profession supplement
A higher assistance tier for buyers in designated professions. Same education requirement, same first-mortgage pairing, larger award.
Up to $20,000 City of Atlanta purchase assistance
Forgiven at a rate of 10% per year. Sell or move out before year ten and a prorated share is repaid. Purchase price caps apply.
Up to $7,500 County workforce housing grant
Applies in several metro counties for buyers who work in the county where they are purchasing. Funds are limited and released in cycles.
Up to $2,000 Closing cost credit, lender contribution
Our own contribution toward third-party closing costs on eligible community lending files. Stacks with the programs above.
Up to 20% of annual interest Mortgage credit certificate
Converts a portion of the mortgage interest you pay into a direct dollar-for-dollar federal tax credit each year. Ask your CPA how it interacts with your return.
All six are sample programs published on a demo website. They are not offers, and eligibility is confirmed only by the administering agency.
Three structures, three very different outcomes
This is the question to ask about any assistance offer, and the one nobody volunteers the answer to.
Forgivable
Disappears on a schedule, typically 10% a year over ten years of living in the home. Stay the full term and you repay nothing. Sell in year three and a prorated share comes back.
Deferred
No monthly payment and usually no interest, but the full amount is repaid when you sell, refinance or pay off the first mortgage. Patient money rather than free money.
Amortizing second
A real monthly payment on top of your mortgage, usually small and at a low fixed rate. The least common structure, and the one that affects your debt ratio from day one.
What assistance does to your cash to close
Put in a price and an award. The estimator shows your cash to close with and without help, and what you would repay if you sold early. Sample figures only.
Cash to close, with assistance
$6,750
down from $18,750 without assistance
- Down payment
- $8,750
- Closing costs
- $7,500
- Prepaids and escrow
- $2,500
- Assistance applied
- -$10,000
- Seller or lender credits
- -$2,000
Assistance and credits cut your cash to close by $12,000. Nothing is due monthly, but the full amount is repaid when you sell, refinance or pay off the mortgage.
Get screened for assistance- Cash to close without help
- $18,750Down payment, closing costs and prepaids
- Cash to close with help
- $6,75036% of the original figure
- Assistance applied
- $10,000Deferred, repaid when you sell
- Monthly cost of the assistance
- $0No monthly payment
If you sell early
What you would repay on the assistance if you sold at the end of each year.
View as a table
| Sell after | Repay |
|---|---|
| Closing | $10,000 |
| 1 yr | $10,000 |
| 2 yr | $10,000 |
| 3 yr | $10,000 |
| 4 yr | $10,000 |
| 5 yr | $10,000 |
| 6 yr | $10,000 |
| 7 yr | $10,000 |
| 8 yr | $10,000 |
| 9 yr | $10,000 |
| 10 yr | $10,000 |
What the cash to close pays for
Before any assistance or credits are applied.
- Down payment$8,75046.7%
- Closing costs$7,50040%
- Prepaids and escrow$2,50013.3%
Estimates only. Program amounts, structures and eligibility are sample illustrations; the administering agency confirms eligibility and terms. Credits are applied to closing costs and prepaids, not to the minimum down payment.
How we run an assistance file
Eligibility screen
Before credit is pulled, we check you against every state, city and county program in play for your income, household size and target area.
Program shortlist
You get a comparison: award amount, structure, strings attached and what happens if you move in year four.
Education enrollment
We send the approved course link and track completion, because a lapsed certificate can hold a closing hostage.
Dual approval
The first mortgage and the assistance lien are underwritten in parallel. We chase both sets of conditions so you chase neither.
Forgiveness schedule in writing
Before you sign anything, you get a one-page sheet showing exactly when the lien is forgiven and what a sale would trigger.
One closing table
Both liens fund together. You sign once, at the attorney's office, with a bilingual walkthrough if you want one.
Interviewing a lender
Four questions to ask anyone
Including us. The answers tell you immediately whether they plan to do the work.
How many assistance files did you close in the last twelve months?
Will you screen city and county programs, or only the state one?
Who chases the second lien approval, me or you?
Will you give me the forgiveness schedule in writing before I sign?
Answers
Assistance questions
It is real, and a portion of it goes unclaimed in Georgia every year. The reason is administrative: an assistance file adds two to four weeks of work and pays the lender nothing extra, so many offices steer buyers away from it.
It depends on the programs you qualify for and their individual rules about layering. On a well-stacked sample file, state assistance plus a city program plus a lender credit can land a buyer at the table with under $2,500 out of pocket.
On a forgivable lien you repay a prorated share of what has not yet been forgiven. On a deferred lien the full balance comes due from the sale proceeds. Either way it is paid from the closing, not from your pocket.
Sometimes. Some programs require you to use a designated first-mortgage product, which may price slightly differently from a standard loan. We show you both versions so you can compare the total cost.
For most programs, yes, defined as no ownership interest in a primary residence during the last three years. A few county and workforce programs have no first-time requirement at all.
Typically two to four weeks on top of a standard timeline, which is why we build it into the contract dates before your agent writes the offer.
Magnolia Lending Group
Find out what you qualify for
A free assistance screen before anything else, in English or Spanish. Call (404) 555-0134 or start online.
Free consultation. Sample rates and assistance amounts shown on this site are illustrations, not offers.