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Unlock your dream of homeownership with the Gwinnett County Down Payment Assistance program. This generous initiative, effective from July 1, 2023, offers first-time homebuyers up to $7,500 in financial support for homes in Gwinnett County. The program caters to both previously constructed and new construction homes, making it accessible to a wide range of aspiring homeowners.
What sets this program apart is its 0% interest, zero payments, five-year deferred payment loan structure. As long as you remain the primary resident, the lien is canceled, and you won't need to make payments. Additionally, your principal is reduced by 20% annually, starting from the first anniversary of the security deed.
To qualify, you must be a first-time applicant, and the program is compatible with various fixed-rate loans, except for adjustable-rate mortgages. The application process is straightforward, involving a pre-application package and meeting specific criteria. Once eligible, you'll receive a Preliminary Certificate of Program Eligibility, valid for 180 days. The program also covers essential costs like down payments and closing fees, making your homeownership dreams a reality. Contact the dedicated team for further information and embark on your journey towards affordable homeownership.
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