Georgia Dream Peach Select VA is open to any borrower who qualifies for a traditional Georgia Dream VA loan, whether a first-time or repeat buyer. You need a 640 credit score (automated underwriting), $500 to invest, a HUD-approved homebuyer education certificate, and income and price under your county's limit. The trade-off: no Georgia Dream down payment assistance.
The Georgia Department of Community Affairs (DCA) sets the Peach Select VA rate every week. On its Current Interest Rates page, effective Oct. 1, 2026 at 6:30 PM, DCA listed the program at 5.375% on a 30-year fixed loan. The same page listed the standard Georgia Dream First Mortgage at 6.375% and Peach Plus at 7.125%. That makes Peach Select VA a full percentage point below DCA's own standard first-mortgage rate.
National VA averages that week were higher. CNBC Select, citing Optimal Blue's average of locked rates, reported a 30-year fixed VA rate of 7.0% on Oct. 2, 2026. Mortgage News Daily's daily survey showed 7.21% the same day. Those are national averages, not quotes for any one borrower, but they give a sense of the gap.
Below is who can use the program, the limits in your part of Georgia, and what the lower rate costs you.
What Peach Select VA is
Peach Select VA is a Georgia Dream product: a 30-year fixed VA loan offered through DCA with a below-market rate. DCA's program FAQ calls it "a financing option tailored specifically for veterans, offering a low interest rate with no down payment assistance." DCA's lender FAQs describe it as offering "qualified military veterans an interest rate typically lower than market interest rates."
Why no down payment help? DCA's FAQ answers that directly: "The low interest rates provided by this program are expected to yield significant cost savings for qualified applicants, effectively serving as an alternative to traditional down payment assistance benefits."
The program opened to applicants on March 15, 2024, with an initial rate of 5.00%, as DCA and local coverage in the Coastal Courier reported at launch. DCA now resets the rate weekly.
Who qualifies
DCA's FAQ sets the baseline: "Any borrower who qualifies for a traditional Georgia Dream VA Loan is eligible to apply for the Peach Select VA Loan Program." On top of that:
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Repeat buyers are allowed. Standard Georgia Dream is for first-time buyers only. For Peach Select VA, DCA's Homebuyers page says the "first-time homebuyer requirement is waived," and DCA's product comparison lists the program as "First-time and repeat."
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Credit score of 640. DCA's lender FAQs say the 640 minimum applies "for those with automated underwriting findings." The same FAQs say manual underwriting is allowed on FHA, VA and USDA loans for borrowers with no credit scores. Ask a participating lender whether that path fits your file.
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$500 minimum borrower investment. Georgia.gov lists a $1,000 minimum, but that figure is for standard Georgia Dream. DCA lists $500 for Peach Select VA.
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Up to 100% loan-to-value. You can finance the full purchase price, within VA and DCA rules.
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Homebuyer education. According to DCA's lender FAQs, every DCA program, for first-time and repeat buyers alike, requires completing a HUD-approved housing counseling agency course, with a completion certificate dated within 12 months of closing.
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Liquid-asset cap. DCA's lender FAQs set the limit at the greater of $20,000 or 20% of the sales price immediately after closing, and gifts over $5,000 count toward it. If you have substantial savings, ask your lender about this early.
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Income and price limits that depend on your county (see below).
Income and price limits by county
DCA's Peach Select VA program page sorts Georgia into three tiers. Household income limits depend on household size.
| Area | Max sales price | Income limit, 1-2 persons | Income limit, 3+ persons | | --- | --- | --- | --- | | Atlanta-Sandy Springs-Roswell metro | $625,000 | $137,555 | $158,188 | | Athens MSA | $525,000 | $118,152 | $135,875 | | All other Georgia counties | $475,000 | $101,700 | $116,955 |
Metro Atlanta tier: Barrow, Bartow, Carroll, Cherokee, Clayton, Cobb, Coweta, Dawson, DeKalb, Douglas, Fayette, Forsyth, Fulton, Gwinnett, Heard, Henry, Jasper, Newton, Paulding, Pickens, Pike, Rockdale, Spalding and Walton counties.
Athens MSA tier: Clarke, Madison, Oconee, Oglethorpe and Morgan counties.
Everywhere else: Every county not listed above, including the Savannah, Augusta, Columbus and Macon areas, the coast and the mountains, falls in the $475,000 price / $101,700 / $116,955 income tier. For buyers near Fort Stewart, Fort Gordon, Fort Moore, Moody or Robins, this is the tier to plan around.
The trade-off in dollars
VA loans already allow 100% financing, so many veterans don't need help with a down payment. For them, a lower rate can be worth more than assistance they wouldn't use.
An illustration, principal and interest only (taxes, insurance and the VA funding fee not included): a $300,000, 30-year loan costs about $1,680 a month at 5.375% and about $1,996 a month at 7.0%, roughly $316 a month less. Your actual numbers will depend on the rate in effect when you lock and your own loan terms.
Without Georgia Dream assistance, you still have to cover closing costs and prepaid items yourself, with seller concessions, or with another assistance program if one fits (see the stacking rules below). If your cash is tight, compare a Peach Select VA quote against a standard Georgia Dream VA loan with assistance before you pick one.
Stacking rules and prior applicants
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No double-dipping within Georgia Dream. DCA's FAQ: "Borrowers cannot simultaneously apply for or receive benefits from both the traditional Georgia Dream program and the Peach Select VA Loan Program."
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Other assistance may be allowed. The same FAQ says borrowers "may still utilize other down payment assistance programs in conjunction with the Peach Select VA Loan Program, subject to Georgia Dream policy." Ask your lender which programs qualify.
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Older Georgia Dream applications. People who applied to Georgia Dream before March 15, 2024 "will need to cancel their existing application and reapply" to switch to Peach Select VA.
VA costs that still apply
The state program lowers the rate. It does not remove VA's own costs. According to VA.gov (rates effective April 7, 2023), the funding fee on a purchase loan is:
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First use, less than 5% down: 2.15%
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Subsequent use, less than 5% down: 3.3%
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5% or more down: 1.5%
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10% or more down: 1.25%
On a $300,000 loan, a 2.15% fee is $6,450. Repeat buyers using the program with no down payment should budget for the 3.3% subsequent-use fee. Veterans receiving VA compensation for a service-connected disability are exempt from the fee, as are surviving spouses receiving Dependency and Indemnity Compensation (DIC) and some others, such as Purple Heart recipients on active duty. Check your Certificate of Eligibility for your status.
How to apply
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Pick a participating lender. DCA's participating lender list is alphabetical and has no location filter, so you'll need to check which lenders work in your area. Examples on the list include Ameris Bank, Atlantic Bay Mortgage Group, Guild Mortgage Company and SWBC Mortgage Corporation. You can also call Georgia Dream at 800-359-4663, or DCA's main line at (404) 679-4840.
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Pre-qualify. DCA's program page says to "Contact a Georgia Dream Participating Lender to pre-qualify and begin the loan process."
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Take the homebuyer education course through a HUD-approved housing counseling agency and keep the certificate.
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Gather documents. Georgia.gov lists items such as your most recent three consecutive years of IRS transcripts.
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Plan for the timeline. Georgia.gov says the Georgia Dream process typically takes about 60 days from application to closing.
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Watch the rate. DCA resets it weekly, so the rate when you lock is the one that counts, not the one in this article.
Quick eligibility checklist
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VA loan eligibility
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Credit score of 640 or higher (or a manual-underwriting path discussed with your lender)
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Household income under your county tier's limit
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Purchase price under your county tier's cap
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Liquid assets within DCA's cap after closing
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HUD-approved homebuyer education certificate within 12 months of closing
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At least $500 of your own money to invest
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A Georgia Dream participating lender
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Cash or another plan for closing costs and the VA funding fee, unless exempt
