Homebuyer Program
Announcement
Please view the virtual information session prior to the opening of the interest form
*UPDATE: Our apologies due to technical errors the home purchase program will open on Monday April 8th this month at 9:00am. Sorry for the late notice.
Our first-time homebuyer program offers qualified applicants the opportunity to build and buy an affordable, energy-efficient home in select neighborhoods in Atlanta and South Fulton County. Homebuyers purchase a new home with a 30-year, zero-interest mortgage.
Review our requirements below.
- Be a first-time homebuyer or fall within certain exceptions.
- Be a citizen or permanent legal resident of the U.S. who has lived or worked in one of the following counties for the past year: Fulton, Cherokee, Clayton, Cobb, Dawson, DeKalb, Douglas, Fayette, Forsyth, Gwinnett, Henry, or Paulding.
- Household size of one to eight people.
- Meet income guidelines – based on area median income. We consider predictable sources of documented income such as social security, self-employment, disability, and child support.
- Meet savings requirement (step-up option is available).
- Meet credit guidelines – we will review your tri-merge credit report (report from all three credit bureaus Equifax, Transunion, and Experian):
- Credit 101: How to Prepare for a Mortgage Loan
- Overall payment history is considered.
- Credit score is not considered.
- Medical bills are not considered unless there is a judgment.
- A bankruptcy must be four years past discharge before applying.
- Annual debt-to-income ratio less than 15%, and monthly debt-to-income ratio less than 41%.
- Total past due non-medical debts cannot exceed $400. These debts must be paid in full within 30 days of approval.
- Demonstrate willingness to partner with Atlanta Habitat.