Georgia Dream Peach Plus Loan Program

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Basic Info

Effective April 15, 2024, FHA-qualified borrowers who do not meet the eligibility requirements for the traditional Georgia Dream program are able to apply for the Georgia Dream Peach Plus Loan Program.

The Georgia Dream Peach Plus Loan Program expands access to affordable homeownership opportunities across our state. By serving a wider range of borrowers, including those with non-conforming loans, this program helps make the dream of homeownership a reality for more Georgia families.

Down Payment Loan Options

  • Standard - All eligible homebuyers may qualify! 3.5% (three and a half percent) of the purchase price or  maximum of $10,000, whichever is the lesser amount. 
  • Protectors, Educators & Nurses (PEN) - Are you a public protector, educator, healthcare provider — or work for these industries — or active military? 4% (four percent) of the purchase price or a maximum of $12,500, whichever is the lesser amount.
  • Choice - Is a member of your family living with a disability? 4% (four percent) of the purchase price or a maximum of $12,500, whichever is the lesser amount.

Eligible Applicants for Georgia Dream Peach Plus Loans

Georgia Dream Peach Plus loans* are available to homebuyers who:

  • Have a household income up to the maximum
  • Have liquid assets of no more than $20,000 or 20% of the sales price (whichever is greater)
  • Meet FHA mortgage loan credit requirements

*Loans are 30-year fixed low interest rate mortgages. Participating lenders give credit approval for FHA mortgage loans.

Home Sales Price and Maximum Household Income

Area/County
Home Sales Price
Household Income
Atlanta - Sandy Springs - Roswell, GA HUD Metro
Barrow County, Bartow County, Carroll County, Cherokee County, Clayton County, Cobb County, Coweta County, Dawson County, DeKalb County, Douglas County, Fayette County, Forsyth County, Fulton County, Gwinnett County, Heard County, Henry County, Jasper County, Newton County, Paulding County, Pickens County, Pike County, Rockdale County, Spalding County, Walton County
$500,000
1-2 persons: $161,694
3+ persons: $185,949
Athens, GA MSA
Clarke County, Madison County, Oconee County, Oglethorpe County, Morgan County
$500,000
1-2 persons: $143,258
3+ persons: $164,747
All Other Georgia Counties
$450,000
1-2 persons: $135,900
3+ persons: $156,285 

How Do I Get Started?

Contact a Georgia Dream Participating Lender to pre-qualify and begin the mortgage loan process. Click the icon below to find a list of participating lenders or call 1-800-359-HOME (4663).


List of Participating Lenders
Home Buyer Education Agencies
Related Links: 
Georgia Dream Loan Program
Peach Select Veterans Assistance Loan Program

Documents


Fact Sheets
FAQs

Frequently Asked Questions

What is the Georgia Dream Peach Plus Loan Program?

The Georgia Dream Peach Plus Loan Program is an innovative program aiming to help borrowers who do not meet the eligibility requirements for GHFA’s traditional Georgia Dream non-taxable mortgage revenue bond program. This program will not have a first-time home buyer requirement and the income and acquisition cost limits will be much higher compared to the traditional Georgia Dream Program.

Why are you introducing another program?

For a long time, the Georgia Dream program has offered basic mortgage products restricted by Federal government policy for income and purchase price. The limited selection has excluded many potential homebuyers from receiving assistance from DCA. Georgia Dream Peach Plus will have less restrictions thus opening opportunities for more homebuyers.

Who is eligible for this new program and when can they apply?

All aspiring homebuyers who qualify for a FHA loan will be able to apply for the Georgia Dream Peach Plus program beginning April 15th, 2024. You do not need to be a first-time home buyer.

What additional documents will a borrower need to submit for this loan?

Please follow the Georgia Dream underwriting checklist available on Lender Online as you would with the Georgia Dream program. Lenders will need to log on to Lender Online and click the link, “Georgia Dream Peach Plus” to submit the loan application.

What are the income and purchase limits for Peach Plus?

Please refer to the tables on page 2 of this document for details on income and purchase price.

What is the down payment amount for this loan?

  • Standard DPA: 3.5% (three and a half percent) of the property purchase price or a maximum $10,000, whichever is the lesser amount. 
  • PEN/Choice DPA: 4% (four percent) of the property purchase price or a maximum of $12,500 whichever is the lesser amount.

Can a borrower apply for Peach Plus and another Georgia Dream Program?

Borrowers are not permitted to apply for or receive benefits from any other Georgia Dream program and Peach Plus simultaneously.  

Can a borrower use another down payment assistance program that is not under Georgia Dream with this new program?

Yes. Public and privately sponsored down payment and closing cost assistance programs are allowed. However, layering with any subordinate financing must be preapproved by Georgia Dream compliance manager, except for employer assistance programs.

What if I had already applied for another Georgia Dream program before April 15, 2024?

If you had already applied for another Georgia Dream program and your loan has not yet been approved and purchased, you will need to cancel your application and reapply afresh for this new loan program. *Please note that certain terms and conditions may apply; therefore, first seek advice from your loan officer before cancelling your application*