Georgia voters elected Democrat Keisha Lance Bottoms governor on Nov. 3. During the campaign she promised a statewide affordable housing trust fund that could offer grants and low-interest loans to people trying to buy a home. If you're a renter who has been searching for a Georgia first time homebuyer grant, you may be wondering whether to hold off and wait for the new money. We don't think you should. Right now the fund is a campaign promise with no dollar amount, no eligibility rules and no start date, and that isn't something you can build a purchase plan on. The state's existing program, Georgia Dream, is open today, and its terms are written down.
Below we cover what was promised, what isn't known yet, what Georgia Dream offers this month and which questions to ask a lender before you count on any help.
What did Bottoms promise first-time buyers?
She promised a statewide fund, but she hasn't released any terms. In September, Capitol Beat News Service reported her pledge: "I want to create an affordable housing trust fund statewide." That report included no funding amount, funding source, eligibility rules, timeline or cost estimate.
She went a little further in the October town hall debate. According to the Atlanta News First transcript, Bottoms said, "I would like to create an affordable housing trust fund," and spoke about "making sure that young people like you have an opportunity to own their own homes." She added: "We can provide grants, we can provide low-interest loans," and said she would "make sure that we crack down on corporate landlords who are raising prices throughout this state."
The AJC's issues guide summarized her plan this way: "The government would give first-time homebuyers access to grant money and low-interest financing." The same guide reported Bottoms' claim that Atlanta "created or preserved 7,000 units of affordable housing" while she was mayor. FOX 5 Atlanta's candidate profile also confirms that her platform includes a statewide affordable housing trust fund.
Her opponent, Republican Rick Jackson, pitched a different kind of help to homeowners in the same debate: "I'm going to freeze and then reduce the property taxes as well."
Where things stand after the election
NBC News projected Bottoms the winner, 54.3% to 45.7%, with 98.6% of expected votes counted as of its 6:14 a.m. ET update on Nov. 4. Those results are unofficial and not yet certified. FOX 5 reported that Jackson conceded on election night, saying, "Tonight the voters spoke. And I respect their decision."
Bottoms is governor-elect and has not taken office. On election night, FOX 5 also reported that officials had not yet determined the full balance of power in the General Assembly. A statewide fund would likely need lawmakers to act, so it's too early to say what a program would look like, if one passes.
Why waiting for a promised grant is risky
Planning a purchase around aid that doesn't exist yet means planning around three unknowns:
-
The amount. No figure has been published. You can't tell whether it would cover a meaningful part of your down payment and closing costs.
-
Eligibility. No income limits, price limits, county rules or credit requirements have been announced. Even if a fund is created, it might not fit your income, your county or the price range you're shopping in.
-
The start date. No timeline has been given, and programs that need legislation, funding and administration rarely launch overnight.
While you wait, you keep paying rent, and none of that money builds equity. We aren't predicting rates or prices here, and we wouldn't advise rushing a purchase you aren't ready for. Our point is narrower: if your budget, credit and job are ready now, an unwritten program is a weak reason to put things off.
Is there a first-time homebuyer grant in Georgia right now?
The state's main first-time buyer program, Georgia Dream, offers down payment assistance, but it's a loan, not a grant. It is run by the Georgia Department of Community Affairs (DCA). According to the DCA program page, effective July 8, 2026, the assistance comes in two tiers:
-
Standard: "Five percent (5%) of the property purchase price or a maximum $10,000, whichever is the lesser amount."
-
PEN and CHOICE: "Six percent (6%) of the property purchase price or a maximum of $12,500, whichever is the lesser amount."
PEN covers public protectors, educators and healthcare providers (or people working in those industries), plus active military. CHOICE covers homebuyers with a family member living with a disability. So the higher $12,500 tier isn't limited to certain occupations. A household with a family member living with a disability can qualify no matter what anyone in it does for a living.
How much would you get?
You get whichever amount is lower, the percentage or the cap. Some examples:
-
$180,000 home, Standard: 5% is $9,000. That's less than $10,000, so you get $9,000.
-
$180,000 home, PEN or CHOICE: 6% is $10,800. That's less than $12,500, so you get $10,800.
-
$250,000 home, Standard: 5% is $12,500, so the $10,000 cap applies.
-
$250,000 home, PEN or CHOICE: 6% is $15,000, so the $12,500 cap applies.
Your lender will confirm the exact figure for your price and loan.
Is Georgia Dream a grant or a loan?
It's a loan. DCA's Lender FAQ describes the Standard and Peach Plus assistance as "a 0% interest rate concurrent second mortgage." It describes the Peach Advantage second as "concurrent and non-forgivable."
For you as the buyer, that means you close with two loans: your main 30-year fixed-rate mortgage and a second mortgage for the assistance, both recorded on the home. The assistance doesn't charge interest, but you still owe it. Before you sign, ask your lender exactly when and how the second mortgage has to be repaid. Don't assume it goes away.
Who qualifies for Georgia Dream?
The DCA program page and Lender FAQ list these core requirements:
-
Buyer status: a first-time buyer, someone who hasn't had an ownership interest in a primary residence in the last three years, or a buyer purchasing in certain targeted areas.
-
Credit: "We have a 640 minimum credit score requirement on all our loan programs for those with automated underwriting findings." Peach Advantage with manufactured homes requires 660.
-
Your own money: "Our Standard Georgia Dream and Peach Select programs have a minimum $1,000 investment requirement from the borrower."
-
Homebuyer education: you must "attend and complete a HUD approved housing counseling agency course" and "provide a completion certificate within 12 months of closing."
-
Property: 1-unit homes only. Duplexes and other 2-4 unit properties aren't eligible.
-
Other real estate: you can't own other residential real estate.
-
Paperwork: three years of tax transcripts.
-
Loan type: 30-year fixed-rate first mortgages. Participating lenders approve FHA, USDA-RD, VA or conventional financing.
-
Fees: the maximum origination fee is 2% of the first mortgage base loan amount on conventional, FHA and USDA loans.
Price and income limits by area
Georgia Dream caps both the sales price and household income, and the limits depend on where you buy. Here are DCA's figures:
-
Atlanta-Sandy Springs-Roswell HUD Metro: $625,000 sales price cap. Income limit of $137,555 for 1-2 persons and $158,188 for 3 or more.
-
Athens MSA: $525,000 price cap. Income limit of $118,152 for 1-2 persons and $135,875 for 3 or more.
-
All other Georgia counties: $475,000 price cap. Income limit of $101,700 for 1-2 persons and $116,955 for 3 or more.
If you're shopping in Savannah, Augusta, Columbus, Macon, on the coast or in the mountains, the "all other counties" limits apply. Confirm your county with a participating lender.
Questions to ask a Georgia Dream lender
Before you count on any assistance, from Georgia Dream or anywhere else, get answers to these:
-
Which tier do I qualify for, Standard, PEN or CHOICE, and what's my exact dollar amount at my target price?
-
Do you have your own credit score or debt-to-income requirements beyond DCA's 640 minimum? Lenders can add their own requirements on top of the program's.
-
What happens to the second mortgage if I sell or refinance? Get the answer in writing.
-
Could the IRS recapture tax apply to me? DCA's Lender FAQ notes, "Our programs may have an IRS recapture tax of 9 years from the closing date." Ask how it works and whether your situation could trigger it.
-
Can I combine Georgia Dream with a local or employer program? Combining rules vary. For example, DCA says Peach Select VA can't be combined with the Georgia Dream second but can be combined with another eligible program.
-
What does my Loan Estimate show for cash to close, with and without the assistance? Comparing the two side by side shows what the program is worth to you.
What if a state trust fund does arrive?
It might. If it does, look for the official terms from the state before you change your plans. Campaign descriptions and news summaries aren't program rules.
Here's a tradeoff to think about: if a new fund is aimed at first-time buyers, someone who already bought a home may not qualify. Nobody knows yet how a future program would define eligibility, so this isn't a reason to rush. It's a reason to make your decision based on what you can verify today. Compare that against waiting an unknown amount of time for unknown help.
The bottom line
Buy when your budget, credit and job are ready, and use programs that exist now. Treat any future state aid as a possible bonus, not your plan. To get started with Georgia Dream, find a lender on DCA's participating-lender list on the Georgia Dream page or call 800-359-4663.
Related reading
-
When Would Fayette County's New Homestead Exemption Show Up on a Tax Bill?
-
What a 20-Point Credit Score Bump Saves on a Georgia Mortgage
