Buying a home
First-time buyer program
Not a separate loan type so much as a package. We pair a conventional, FHA or USDA first mortgage with state and city assistance, and we handle the extra paperwork that scares other lenders off.
How the first-time buyer program works
Down payment assistance is real money, and it goes unclaimed every year in Georgia because the applications add work and many loan officers would rather not bother. We bother. It is most of what we do.
The structure is a layer cake. On the bottom is a normal first mortgage, usually FHA or conventional. On top sits a second lien from a state or city program, often at zero interest and sometimes forgivable after a set number of years.
Most programs require a homebuyer education course, a modest contribution from your own funds and an income under a published limit. None of that is complicated once someone walks you through it in order, which is exactly what your loan officer will do.
What you get with us
Not program features. The things our office does on every file of this type.
Assistance eligibility screen
We check every state, county and city program you might qualify for, not just the one we like.
Homebuyer education enrollment
We send you the approved course link and track completion so it never delays your closing.
Layered approval management
Two lenders, two sets of conditions, one point of contact: yours.
Forgiveness schedule in writing
You get a plain-English sheet showing when the second lien is forgiven and what happens if you sell early.
Realtor coordination
We brief your agent so the offer timeline accounts for the assistance approval.
Bilingual closing support
Documents walked through in Spanish on request, including at the attorney's table.
Step by step
Six stages, and what each one actually asks of you.
Budget conversation
Before credit is pulled, we talk about what payment actually fits your life, not just what you can be approved for.
Program match
We shortlist the assistance programs you qualify for and compare the strings attached to each.
Education course
Usually six to eight hours online. Do it early, because the certificate is required at closing.
Pre-approval
Issued with the assistance modeled so your offer reflects real cash to close.
Dual underwriting
The first mortgage and the assistance lien are approved in parallel, and we chase both.
Closing
Both liens fund at the same table. You sign once.
Why people choose it
Real cash toward the purchase
Sample Georgia programs range from $7,500 to $12,500 toward down payment and closing costs.
Education that pays
The required course is where most buyers learn what an escrow shortage is before it happens to them.
One point of contact
You never chase two lenders. We do that.
In English or Spanish
Every step of the process, including the closing walkthrough.
What moves your pricing
Six levers underwriting actually looks at. Two of them you can change before you apply.
| Factor | How it affects you |
|---|---|
| First-time status | No ownership interest in a primary residence for the last three years. |
| Household income | Each program publishes its own limit by county and household size. |
| Purchase price cap | Assistance programs cap the price of the home. |
| Minimum contribution | Most programs ask for $1,000 of your own money. |
| Education certificate | Required before closing, and it expires, so timing matters. |
| Occupancy period | Forgivable liens usually require you to stay for five to ten years. |
Programs people compare this with
- FHA loanInsured by the Federal Housing Administration. Built for buyers whose credit is still recovering.Compare
- Conventional loanThe workhorse loan for buyers with steady income and reasonable credit. Down payments start at 3%.Compare
- USDA rural loanNo down payment in eligible areas, and more of metro Atlanta's outer ring qualifies than people expect.Compare
Questions about this program
It depends on the program. Some are forgiven after five to ten years of living in the home, some are due when you sell or refinance, and some are a zero-interest second payment. We show you which type you are getting before you commit.
If you had no ownership interest in a primary residence during the last three years, most programs count you as first-time again. The three-year clock runs from the date you sold.
On a well-stacked file, earnest money plus about $1,000. We have closed metro Atlanta purchases where the buyer's total out-of-pocket was under $2,500 (sample outcome).
Slightly, because it adds a few days. We offset it by getting fully underwritten before you shop, so your offer says approved rather than pre-qualified.
Magnolia Lending Group
Ready to look at a first-time buyer program?
A pre-approval takes about four minutes to start and one business day to issue. No cost and no obligation.
Free consultation. Sample rates and assistance amounts shown on this site are illustrations, not offers.