Are there down payment assistance programs in Georgia?
I am buying my first home and I am getting a USDA loan. I need down payment assistance and was wondering what’s available here in Georgia. Is an FHA loan a better option than USDA? I prefer 0% downpayment programs so that I don’t need to get down payment assistance. by rosher46 from Atlanta, Georgia. Nov 29th 2022
John Burke (jburke)
#27 ranked lender in Texas - 321 contributions
Hi rosher46, You really want to stay away from DPA programs if at all possible. The interest rate is higher and you could end up with a 5 year minimum occupancy requirement. The good news is USDA does not require a down payment and you can either ask the seller to cover your closing costs or you can roll them into your loan as long as the home appraises high enough. | John Burke | Senior Mortgage Banker | Lending in ALL 50 states |Stride Bank | jburke@stridebank.com | (877)228-9069 | NMLS# 787231 |
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