Mortgage Loans by Profession

An interest and monthly payment free second mortgage may be available to credit and income-eligible first-time home buyers who are employed in certain professions that helps them fund the required down payment and closing costs on the purchase of a single-detached or attached home to be used for owner-occupancy anywhere in Lawrenceville GA.   

Educators, Law Enforcement, Fire and Emergency Home Loans

Credit and income eligible borrowers employed in the fields of education, law enforcement, fire and emergency may qualify for a first-time home buyer mortgage of $7,500 to fund both their down payment and closing costs through the Federal Home Loan Bank, Georgia Dream and Gwinnett HOMEStretch Programs.  The Georgia Dream Program is available to households of one-to-two with gross incomes of $76,000 and three or more with gross incomes up to $87,500 while households at 80% of the area median income may benefit from the Federal Home Loan Bank and Gwinnett HOMEStretch Programs.

Healthcare Worker Home Loans

Credit and income eligible borrowers employed in the field of healthcare may also qualify for a first-time home buyer mortgage of $7,500 to fund both their down payment and closing costs through the Federal Home Loan Bank, Georgia Dream and Gwinnett HOMEStretch Programs.  In addition, licensed residents, fellowships, medical doctors, maxillofacial surgeons and doctors of osteopathy may qualify for a mortgage of up to 100% of the purchase price up to $750,000 on their primary residence.

Military Home Loans

Credit and income eligible borrowers currently or formerly employed in the military may also qualify for a first-time home buyer mortgage of $7,500 to fund both their down payment and closing costs through the Georgia Dream and Gwinnett HOMEStretch Programs.  The Federal Home Loan Bank offers a loan of $10,000 to eligible active duty or veterans of the US Military, their spouses and surviving spouses with incomes at 80% of the area median to help them fund the down payment toward the purchase a single-detached or attached home anywhere in Lawrenceville GA.  Unlike with the VA Loan, these programs allow funds left over after the down payment is funded to go toward closing costs.  Ask a participating lender if their use may also lead to reduced closing costs, a lower mortgage balance and whether the VA Loan Benefit can still be used for a second property. 

The Atlanta Neighborhood Development Partnership, Inc offers $7500 to active duty military and honorably discharged veterans for the purchase of certain renovated properties when they become available in Lawrenceville.  The buyer's household income may not exceed 80% of the area median, the amount available is based upon need and the funds are forgiven over time. 

 

Please call Solomon at (770) 271-2156 or write about other loan programs through local lenders that are available to active duty personnel, veterans, their families and those for persons who are employed in other professions.