Georgia First-Time Home Buyer: 2025 Programs and Grants

What to know about buying a house in Georgia

As a Georgia first-time home buyer, you have lots of great resources available to you.

The Peach State offers some assistance in the form of home buyer education courses and counseling. And, better yet, you could be in line for cash assistance to help cover your down payment and closing cost needs.

Here’s how to get started.

In this article (Skip to...)

• Home buyer programs
• Home buyer grants
• Home buyer key stats
• Home loan options
• Buying in Georgia’s cities
• Resources
• Mortgage rates

Georgia first-time home buyer programs

The Georgia Department of Community Affairs (DCA) operates statewide and has a list of approved homebuyer education agencies. But if you want an all-online course, you’ll have to use eHome America’s service.

Of course, not all first-time buyers need to receive homeowner education. But it’s mandatory if you wish to get a mortgage or receive down payment assistance through the DCA. You will also need to choose a participating lender from the program’s list.

The Georgia Dream

The Georgia Dream program offers up to $10,000 in down payment assistance as a second loan with no interest or monthly payments. This loan is repaid only if you sell your home, refinance your mortgage, or stop using the property as your primary residence. Eligible borrowers, such as public service workers, active military members, or those with a disabled family member, may qualify for up to $12,500 in assistance.

Qualifying Georgia Dream program applicants must:

• Be first-time buyers or have not owned a home in the past three years
• Not exceed household income limits (varies by county)
• Have liquid assets of no more than $20,0000 or 20% of the home purchase price
• Meet lender credit score requirements

The Georgia Dream Peach Plus

The Georgia Peach Plus program provides tailored down payment assistance to homebuyers in Georgia. The Standard option offers 3.5% of the purchase price or up to $10,000, while the PEN option (for public protectors, educators, healthcare workers, and military) and Choice option (for families with a disabled member) offer 4% or up to $12,500. Eligible buyers must meet FHA loan credit requirements, income and asset limits, and work with participating lenders offering 30-year fixed-rate mortgages at low interest rates.

DreamMaker Home Purchase Assistance Program

The DreamMaker Home Purchase Assistance program offers financial assistance for down payments, closing costs, and gap financing to help first-time buyers purchase a home in Savannah’s city limits. Buyers must secure financing from approved lenders and hire a home inspection company to identify repairs, most of which must be addressed by the seller before closing. Assistance is provided as a deferred payment, 0% interest loan of up to $30,000.

Georgia first-time home buyer grants

If you’re ready to buy a home in Georgia but need a little extra financial support, home buyer grants could be the answer. These programs offer assistance to help with upfront costs like down payments and closing fees, making homeownership more attainable for eligible buyers. The best part is that they do not need to be repaid.

Vine City Renaissance Initiative (VCRI)

If you’re planning to stay in a Vine City home for at least five years, this program might be a great fit for you. It offers up to $20,000 as a forgivable grant, provided you meet the eligibility requirements. You can choose a conventional, FHA, or VA loan through an Invest Atlanta-affiliated lender. Keep in mind, you’ll need less than $25,000 in liquid assets to qualify, and there’s a $1,000 participation fee. While there’s no maximum purchase price, income limits do apply.

Intown Mortgage Assistance Program

This program combines a conventional, FHA, or VA mortgage with $10,000 for your down payment and closing costs, fully forgiven after you live in the home for five years. To qualify, your credit score needs to be between 660 and 680, depending on your debt-to-income ratio and loan type. There’s a $1,200 program fee, and you can’t have more than $25,000 in assets. Income limits range from $85,800 for a single-person household to $132,360 for a household of five. The maximum purchase price is $385,000.

Perry Bolton Mortgage Assistance Program

If your income is at or below 80% of the Area Median Income (AMI), you could receive $20,000 to purchase a home classified as permanently affordable. For those earning up to 120% of AMI, $10,000 is available when buying a home within the Perry Bolton TAD, even if it’s not permanently affordable. The best part? The assistance is fully forgiven after you’ve lived in your home for five years, making it an excellent opportunity to secure a more affordable path to homeownership.

Georgia home buyer key stats

The median home purchase price in Georgia was $376,900 in September 2024. That increased 3% from the prior year, according to Redfin.

Finding affordable housing can be challenging for Georgia first-time home buyers — especially when rising home prices lead to higher down payments and closing costs. If you’re in that predicament, read on to discover grants and loans that could help you bridge the gap.

Down payment amounts are based on the state's most recently available average home sale price. “Minimum” down payment assumes 3% down on a conventional mortgage with a minimum credit score of 620.

If you're eligible for a VA loan (backed by the Department of Veterans Affairs) or a USDA loan (backed by the US Department of Agriculture), you may not need any down payment at all.

First-time home buyer loans in Georgia

If you’re a first-time home buyer in Georgia with a 20% down payment, you can get a conventional loan with a low interest rate. And you never have to pay for private mortgage insurance (PMI).

Of course, few first-time buyers have saved enough for 20% down. But the good news is that you don’t need that much. Not by a long shot.

Qualifying borrowers can often get into a new home with as little as 3% or even 0% down using one of these low-down-payment loan programs:

• Conventional 97: From Freddie Mac or Fannie Mae. 3% down payment and 620 minimum credit score. You can usually stop paying mortgage insurance after a few years
• FHA loan: Backed by the Federal Housing Administration. 3.5% down and a 580 minimum credit score. But you’re typically on the hook for mortgage insurance premiums (MIP) until you refinance to a different type of mortgage, move, or pay off your loan
• VA loan: Only for eligible veterans, active military members, reservists, and National Guard. Zero down payment is required. Minimum credit score varies by lender but often 620. No ongoing mortgage insurance after closing. These are arguably the best mortgages available, so apply if you’re eligible
• USDA loan: For those on low-to-moderate incomes buying in designated rural areas. Zero down payment required. Credit score requirements vary by lender but often 640. Low mortgage insurance rates
• Georgia Department of Community Affairs (DCA): May include competitive interest rates and can be used with down payment assistance. More information below

Note that government loan programs (including FHA, VA, and USDA home loans) require you to buy a primary residence. That means you can’t use these loans for a vacation home or investment property.

In addition, most programs let you use gifted money or down payment assistance (DPA) to cover your down payment and closing costs. Depending on your mortgage loan, you could potentially get into a new house with minimal cash out of pocket.

If you’re unsure which program to choose for your first mortgage, your lender or real estate agent can help you find the right match based on your finances and home buying goals.

Buying a home in Georgia’s major cities

Unusually, home price inflation has been lower in Atlanta than in the wider state. But sales prices are rising in Augusta and surging in Columbus.

So if your savings need an extra boost, look into homeownership programs available to buyers in Georgia’s three biggest cities.

Atlanta first-time home buyers

The median list price in Atlanta was $398,000 in September 2024. That fell 9.5% year-over-year, according to Realtor.com.

If you want to buy a home at that median price, your down payment options might fall between:

• $11,940 for 3% down payment
• $79,600 for 20% down payment

Atlanta’s housing authority, Invest Atlanta, has a dazzling array of down payment assistance programs. These DPAs are also available to first-time buyers in Savannah and Macon, and some cover particular ATL neighborhoods, including Vine City and Intown.

Many of these programs are more attractive than the DCA’s statewide offering. So click the link above to access full details, including terms, conditions, and eligibility requirements.

HOME Atlanta 4.0 program

Atlanta first-time home buyers have a lot to like about this DPA grant. HOME Atlanta 4.0 offers eligible borrowers a whopping 3.5% grant (never needs repaying) toward your down payment and closing costs on an FHA or VA mortgage.

Atlanta Affordable Homeownership Program (AAHOP)

Those who prefer financing with a conventional loan may find the AAHOP to be their best option. According to Invest Atlanta, “homebuyers receive up to $20,000 toward the down payment and/or closing costs that is fully forgiven after living in the home for 5 or 10 years, depending on the amount.”

ATL Home Renovation Advantage program

First-time buyers who are purchasing a fixer-upper with a renovation loan can receive up to $10,000 towards down payment and closing costs. Assistance comes in the form of a forgivable second mortgage that is fully forgiven after living in the home for five years.

Renovation loans allow buyers to purchase and then rehabilitate a home all with a single mortgage payment. But keep in mind that you’ll need to secure a loan from the list of Invest Atlanta’s many participating lenders.

Augusta first-time home buyers

The median list price in Augusta was $220,000 in September 2024. That increased 8.9% year-over-year, according to Realtor.com.

If you want to buy a home at that median price, your down payment options might fall between:

• $6,600 for 3% down payment
• $44,000 for 20% down payment

You can get down payment assistance of up to $5,000 if you’re buying a single-family home in Augusta-Richmond County. Although that’s an interest-free loan, it’s forgiven in equal parts over five years. So, provided you remain in residence and don’t sell or refinance, you should owe nothing at the end of the loan term.

As with all these programs, there are loads of terms, conditions, and eligibility criteria. So download the 10-page Augusta Down Payment Assistance Manual (PDF) from the resource section below.

Columbus first-time home buyers

The median list price in Columbus was $218,500 in September 2024. That grew 9.8% year-over-year, according to Realtor.com.

If you want to buy a home at that median price, your down payment options might fall between:

• $6,555 for 3% down payment
• $43,700 for 20% down payment

The Columbus Sweet Home Columbus program offers down payment assistance of up to $14,975 which can’t exceed 5% of the sales price. While the money cannot be used for closing costs, you can secure an additional $1,000 for prepaid fees, such as property taxes and homeowners insurance.

This assistance comes in the form of an interest-free loan. But it’s not clear whether that will ultimately be forgiven or will require repayment. If you’re interested, you should call the Columbus Community Reinvestment Department at (706) 225-3916 and request further details.

Where to find home buying help in Georgia

All the organizations we’ve listed above should provide advice freely to any first-time home buyer in Georgia or their local area.

In addition to our selection, the U.S. Department of Housing and Urban Development (HUD) provides a few lists of statewide, regional, and local resources.

The Georgia Dream Homeownership Program is the main statewide mortgage assistance program. But check out HUD’s webpage for Georgia first-time home buyers to see programs at the county and city level.

Note that HUD provides two forms of funding, the Community Development Block Grant (CDBG) and the HOME Investment Partnerships program. You might be eligible for both. So check out the ones where you are so you can choose the better.

Additional statewide mortgage assistance programs

• Habitat for Humanity
• USDA Rural Development
• Georgia Dream Program
• Georgia Dream Peach Plus Program
• Georgia Department of Community Affairs

Local first-time home buyer programs in Georgia

• Local CDBG contacts
• Local HOME contacts
• Community HOME Investment Program (CHIP)
• DeKalb Down Payment Grant Program
• Douglas County Housing Partnership
• Gwinnett County Down Payment and Mortgage Assistance
• Fulton County Down Payment Assistance
• Invest Atlanta
• DreamMaker Home Purchase Assistance
• Augusta Down Payment Assistance Manual
• Sweet Home Columbus Program

What are today’s mortgage rates in Georgia?

You can see today’s live mortgage rates below.

When you’re ready to start the home buying process, experiment with a mortgage calculator to see how down payment and interest rates will affect your mortgage payment. Then, get personalized rate quotes from at least three to five mortgage lenders.

Don’t just look at advertised rates online. Apply for preapproval and compare the interest rates and fees you’re offered. Because that’s the only way to know you’re getting the best deal possible on your new home loan.

¹Source: Redfin Georgia Housing Market report

²Source: Experian.com study of 2021 and 2020 data

³Based on a review of the state's available DPA grants at the time this was written