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Georgia
First Time Home Buyer
 Foreclosures
and falling home prices have hit Georgia hard and prices in Atlanta are expected
to fall 15% in 2009. There are partially finished subdivisions all over Atlanta
and bankers are forced to slash prices to unload the inventory. The first time
home buyer credit is helping the market but prices will continue to fall due to
foreclosures. A Georgia first time home buyer can purchase a home at a
rock-bottom price, lock in a very low interest rate, and get an $8,000 bonus
check from the government. You may never get another chance like this in your
lifetime.
Special
Programs
The My Community Georgia First Time Home Buyer Program Opens Doors for a
Fireman, Police Officer, Paramedic, Teacher, Healthcare Worker such as Nurse,
and Military Personnel.
This program features 3% down financing and you receive a $500 credit toward closing costs. Also, you can have use part-time or overtime income from last 12 months to qualify.
Georgia First Time HomeBuyer FHA Program
FHA $100 down program is available if you purchase FHA foreclosure.
Please visit
FHA mortgage limits
if your Metro Area doesn't appear below.
| Metro Area |
Single Family |
2-Unit |
3-Unit |
4-Unit |
| Savannah |
$271,050 |
$347,000 |
$419,425 |
$521,250 |
| Atlanta |
$346,250 |
$443,250 |
$535,800 |
$665,850 |
| Augusta |
$271,050 |
$347,000 |
$419,425 |
$521,250 |
| Macon |
$271,050 |
$347,000 |
$419,425 |
$521,250 |
VA Program
Zero down payment up to $417,000 loan amount
If you served during wartime for at least 90 conse  cutive days or
during peacetime for at least 181 consecutive days then you are
eligible for the VA Home Loan Program. If you are currently on
active duty then you are eligible for the program after 90 days of
active service. You are also eligible if you are on Reserve, as long
as you have served for at least six years, which can be
non-consecutive and in different branches of the Reserves. The
Reserve branches eligible for the VA Home Loan Program are Army
National Guard, Army Reserve, Air National Guard, Coast Guard
Reserve, Navy Reserve, Marine Corps.
Georgia USDA Rural Program
Zero down payment with NO PMI or mortgage insurance. You must purchase home in
eligible county and there are maximum income limits. The income limit for
most counties is $73,600. Atlanta has $82,450 limit.
Visit
USDA website to determine if a specific home is eligible for the program.
You will need full address with zip code.
Georgia First Time Home Buyer Stats
| Best Places to Live |
Martinez, Peachtree City, Suwanee |
| Most Affordable Place to Live |
Macon, GA-$139,007 |
| Average Home Listing Price |
$293,538 |
| Unemployment Rate |
10.2% |
|
Property Tax Rate-Low |
.71% |
|
Foreclosure rate |
1 in 85 homes |
| Fasted Growing Job Market |
Food Services, Education |
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