What is it?
HOME Atlanta 4.0 is the newest mortgage option provided by Invest Atlanta. HOME Atlanta 4.0 URFA will provide:
- An attractive 30-year fixed interest rate mortgage with a 5% grant
- Higher income and purchase price limits for eligible home-buyers
- Refinances with a 5% grant are allowed
- No first time home-buyer requirement
- No repayment required; 5% grant is forgiven at closing
- Current residence must be sold prior to closing on the new home
- Income limits cannot exceed program income limits
- Must have a minimum credit score of 640 and debt-to-income ratio of 45%
- Must qualify for first mortgage with Invest Atlanta participating lender
- Contribute $1,500 of own funds towards closing
- Maximum purchase price is $374,268
What type of home can I buy?
- Single family detached homes, townhomes, 2-4 units and condominiums
- No manufactured housing
- Property must be owner-occupied, primary residence
- The property must be located in the city limits of Atlanta
- To determine if property is located in the city of Atlanta, go to gis.atlanta.gov
Whar are the income limits?
|Household Size||Maximum Income Limits(140% Medium Income)|
|(1 person Household)||$64,974|
|(2 person Household)||$74,256|
|(3 person Household)||$83,538|
|(4 person Household)||$92,820|
|(5 person Household)||$100,246|
How Do I Get Started?