Atlanta homes are more affordable with the Atlanta BeltLine’s downpayment assistance program!

Wouldn’t everybody love to save up to $50,000 on their next Atlanta home? Atlantans are finding out about the Atlanta BeltLine’s downpayment assistance program to help people finance affordable homes along this corridor of transit, trails, and parks. It’s no secret, yet many people have never heard of this unique opportunity. This past week, the Atlanta Journal-Constitution ran a two-page article focusing on two happy ladies who are now homeowners thanks to the on the deal they got with the downpayment assistance program.

Aimee Brown bought a 1,100 square foot condo in the Storehouse Lofts in Castleberry Hill and saved $15,000 on her home purchase (disclaimer, part of that was from the federal tax credit, which has since ended, but what a bargain!). Melesia Knight bought her home in South Park Lofts in Reynoldstown for $74,000 – originally priced at $149,000.

Here are a few details about the BeltLine downpayment assistance program:

• This [pertains to] existing development[s] with resales available under $252,000.
• You may qualify for up to 20% of the home purchase price or up to $50,578 as a subsidy.
• Existing or new construction single-family homes, townhouses, condominiums and manufactured housing along the BeltLine are eligible.
• Maximum purchase price is $252,890.
• Income eligibility
  • 1 or 2 person household: $71,200 household income or less
  • 3 or more person household: 81,800 household income or less
• Must be in the BeltLine Tax Allocation District: Map of BeltLine Tax Allocation District (caution: 17MB .PDF download)
• Assistance is in the form of a 0% interest second mortgage
• Repayment of mortgage is due in full upon sale, refinancing, or when the home is no longer owner-occupied. Mortgage loan is forgiven after 15 years.

Not only will the BeltLine connect 45 neighborhoods in intown Atlanta, it will connect residents with unbelievable deals on BeltLine affordable housing. For a list of qualifying homes and more info, click here!

If you have questions on how you can get in on the affordable housing action, call Derrick at 404.389.4932 or email derrick@thebeltlineteam.com. As your BeltLine Realtor, he can answer all your questions. Only 19 people have taken advantage of this program so far – you could be the next one!