Century MLS Realty
Tel: 404-810-1800

FHA Financing

$8,000 Tax Credit for First Time HomeBuyers

   This FHA program has helped over 83,000 Georgians achieve the dream of homeownership by providing affordable first mortgage financing and down payment assistance.

Here's how we can help you…

The Program provides first time homebuyers with:

 First Mortgage Financing

• Low fixed interest rate, 30 year mortgages

• Up to 100% financing

• Flexible approval guidelines for Conventional, VA, or USDA-RD mortgage loans

• Very low closing costs

• Involuntary unemployment, accidental disability, and accidental death and

dismemberment insurance available

It's easy to qualify!

1) Your total annual household income cannot exceed the following limits based on the number of persons living in the home and the location of the home.

Household Size                                             Total Household Income

                                                                                                   Statewide           Atlanta MSA*

One or two persons                                                                 $58,000             $68,000

Three or more persons                                                           $67,000             $78,000

* Atlanta MSA: Barrow, Bartow, Butts, Carroll, Cherokee, Clayton, Cobb, Coweta, Dawson, DeKalb, Douglas, Fayette, Forsyth, Fulton, Gwinnett, Haralson, Heard, Henry, Jasper, Lamar, Meriwether, Newton, Paulding, Pickens, Pike, Rockdale, Spalding, Walton

2) You must be a first time homebuyer or not have owned a home in the past three years, or purchase a home in a targeted area to qualify for first mortgage financing. Find a listing of targeted counties below.

3) The purchase price of the home that will be financed with this Program may not exceed the purchase price limits below:

   Statewide                         $200,000

    Atlanta MSA                     $250,000

The Program offers additional financing to help you with the various costs associated with purchasing your home.

Eligible first time homebuyers may qualify for a Second Mortgage loan for the down payment and closing costs associated with the purchase of their home. The Second Mortgage financing must be used in conjunction with a First Mortgage Loan (some exceptions apply).

• No interest

• No monthly payments

• No payment due until home is sold, refinanced or no longer used as the borrower's principal residence.

Eligible borrowers will:

1) Meet the total household income guidelines for down payment and closing cost financing (see the chart below).

2) Contribute a minimum of $500 of their own funds towards the purchase transaction, and

3) Complete Home Buyer Education. A list of Homebuyer Education partners can be obtained by contacting Century MLS Realty (404-810-1800)

STANDARD

All eligible homebuyers $5,000

PEN

Eligible homebuyers who are employed by entities that provide public protection (including the military), health care, or education. $7,500

EV

Energy efficient and/or visitable homes that are certified to meet the Energy Star, EasyLiving Homecm or EarthCraft HouseTM program requirements. $7,500

CHOICE

Households consisting of individuals with disabilities. $7,500 - $20,000

HONORS

Eligible homebuyers who are the surviving spouse of a military serviceman or servicewoman or of a public protector. $10,000

WELCOME HOME

Eligible members of Georgia's Army and Air National Guard who purchase a home in the State of Georgia. $10,000

Applicants seeking down payment and closing cost financing must have a total annual household income that does not exceed the following limits based on the number of persons living in the home and the location of the home.

FHA Income Limits by Family Size

County	1 Person	2 Person	3 Person	4 Person	5 Person
Statewide	30,050	34,350	38,650	42,950	46,400
Banks, Camden	31,250	35,700	40,200	44,650	48,200
Bibb, Crawford, Jones, Peach, Twiggs	30,800	35,200	39,600	44,000	47,500
Brantley, Butts, Glynn, McIntosh	31,300	35,800	40,250	44,700	48,300
Bryan, Chatham, Effingham	33,050	37,750	42,500	47,200	51,000
Burke, Columbia, McDuffie, Richmond	31,100	35,500	39,950	44,400	47,950
Catoosa, Dade, Walker	31,450	35,900	40,400	44,900	48,500
Clarke, Madison, Oconee, Oglethorpe	31,650	36,150	40,700	45,200	48,800
Hall	36,800	38,150	42,950	47,700	51,500
Houston	36,800	42,050	47,300	52,550	56,750
Jackson	31,900	36,500	41,050	45,600	49,250
Lamar	30,250	34,550	38,900	43,200	46,650
Lumpkin	32,200	36,800	41,400	46,000	49,700
Monroe	35,650	40,750	45,850	50,950	55,050
Morgan	32,050	36,600	41,200	45,750	49,400
Atlanta Area Counties*	40,150	45,900	51,600	57,350	61,950

 *Atlanta Area Counties: Barrow, Bartow, Carroll, Cherokee, Clayton, Cobb, Coweta, Dawson, Dekalb, Douglas, Fayette, Forsyth, Fulton, Gwinnett, Heard, Henry, Jasper, Newton, Paulding, Pickens, Pike, Rockdale, Spalding, Walton. (Please note these counties are not the same as the Atlanta MSA)

Targeted Counties

Appling,  Clay,  Dodge,   Greene,   Lamar,   Miller,   Quitman,   Taylor,   Warren,   Atkinson,   Clinch,   Dooly, Hancock,   Laurens,   Mitchell,   Randolph,   Telfair,   Washington,   Bleckley,   Coffee,   Early,   Haralson, Lincoln,   Montgomery,   Schley,   Terrell,   Wayne,, Brooks,   Colquitt,   Echols,   Heard,   Long,   Morgan, Screven,   Thomas,   Webster,,  Bulloch,   Cook,   Elbert,   Irwin,   Macon,   Newton,   Stewart,   Treutlen, Wheeler,,  Burke,   Coweta,   Emanuel,   Jasper,   Marion,   Oglethorpe,   Sumter,  Turner,  Wilcox,  Calhoun,  Crawford,   Evans,   Jefferson,   McDuffie,   Peach,   Talbot,   Twiggs,   Wilkes,   Charlton,   Crisp,   Fannin,   Jenkins,   McIntosh,   Polk,   Taliaferro,   Upson,   Wilkinson,   Chattooga,  Decatur,  Grady,  Johnson,   Meriwether,   Pulaski,  Tattnall,   Ware, Worth

How do you apply?

Contact Century MLS Realty (404-810-1800) to begin the loan pre-qualification process.

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