CENTURY MLS REALTY
Tel: 770-906-5039

FHA Financing

   Has helped over 35,000 Georgians achieve the dream of homeownership with this Program by providing affordable first mortgage financing and down payment assistance.

Here's how we can help you… Submit a Mortgage Application

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 DCA's Homebuyer Education partners can be obtained by contacting Century MLS Realty (770-906-5039)

TheSecond Mortgage Loan Amounts

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.

(Please note these income limits may be lower than the First Mortgage Loan income limits)

*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 this is not 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?

1) Contact Century MLS Realty (770-906-5039) to schedule an appointment with a Participating Lender for pre-qualification and to begin the mortgage loan process.

2) Attend homebuyer education to learn more about buying and owning a home.

Rev. 3/07

Submit a Mortgage Application

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