GWINNETT COUNTY HOMEStretch DOWNPAYMENT ASSISTANCE PROGRAM

Downpayment Assistance Is Available

Applications are now being accepted for the Gwinnett County HOMEStretch Downpayment Assistance Program, for individuals and families purchasing homes in Gwinnett County.

This program is funded by HUD’s HOME Investment Partnership Program including funds from the American Dream Downpayment Initiative [ADDI] and is administered by the Gwinnett County Community Development Program.

HOW CAN THIS PROGRAM ASSIST YOU?

The HOMEStretch Downpayment Assistance Program provides loans of $7,500 at 0% interest to qualifying first-time homebuyers who purchase affordable homes in Gwinnett County.  HOMEStretch Loan funds may be used for Downpayment and/or Closing Cost Assistance, and/or Prepaid Items.  No scheduled payments are required on the HOMEStretch loans during the 5 year loan period.  If the homebuyer occupies the home purchased with HOMEStretch funds as their principal residence for at least 5 years, the loan is satisfied and no repayment is required.

WHO IS ELIGIBLE FOR HOMESTRETCH?

First-time homebuyers including homebuyers who have not owned a home in three years who meet the income guidelines as established by HUD and set forth below, who are credit worthy and who agree to complete Pre-purchase Certified counseling classes provided by HUD approved Housing Counseling Agencies.  

To qualify for a Gwinnett County HOMEStretch Homebuyers Downpayment Assistance Loan, the applicant must purchase a home in Gwinnett County.

WHAT TYPES OF PROPERTIES ARE ELIGIBLE?

Single family detached homes, townhouses, and condominiums constructed after 1977 are eligible.

 WHAT IS THE MAXIMUM PURCHASE PRICE?

The purchase price of the home cannot exceed $200,000; however, what each applicant may afford will vary based on income, mortgage interest rates and other variables at the time of purchase.


IF YOU HAVE ANY FURTHER QUESTIONS, DO NOT HESITATE TO
CONTACT US AT (404) 754-7482