Savannah's  Housing & Neighborhood Services Department offers different levels of down payment assistance to eligible applicants with the Dream Maker programs.

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FHA.com is a privately owned website, is not a government agency, and does not make loans.

Savannah Dream Maker Home Buyer Assistance Program

Financial Assistance for Homebuyers in Georgia

The City of Savannah's Housing & Neighborhood Services Department (HNSD) offers eligible applicants down payment assistance in different levels with the Dream Maker (DM) programs

Available Assistance 
With different levels of home buying assistance, the Dream Maker Home Buying Assistance Program offers affordable loans for down payment assistance, closing costs, gap financing and other related expenses. The level of assistance varies depending on the location and construction type of the home. 

Dream Maker 1 
  • Up to $5,000 deferred, due for repayment upon transfer of title, refinance, or demise 
  • The borrower must contribute $1,000 toward the purchase 
  • The home must fall outside of Target Neighborhoods 
  • Property must be located within City limits  

Dream Maker 2 
  • Up to $7,500 deferred, due for repayment upon transfer of title, refinance, or demise 
  • The borrower must contribute $1,000 toward the purchase 
  • Property must be located within CDBG neighborhoods 

Dream Maker 3 
  • Savannah Gardens (only) - Up to $60,000*Up to $60,000 for two-story homes; Up to $40,000 for single-story homes  
  • Urban Redevelopment Areas - Up to $30,000
  • CDBG Neighborhoods - Up to $20,000 
  • This tier allows for new construction in urban redevelopment and CDBG areas. The property must be pre-approved by HNSD for the DM 3 program prior to construction 
  • 30-year term, deferred, payable upon transfer of title, refinance, or demise 
  • The borrower must contribute $1,000 toward the purchase 

*Seller-funded down payment programs were eliminated in the Housing and Economic Recovery Act of 2008, but states and local government agencies are still permitted to help borrowers finance their homes with second mortgages and grants. These agencies set different requirements that a borrower needs to meet in order to qualify for the grant programs, such as property location, and purchase price, and income limits.      


Note: All figures mentioned above were accurate at the time of publication and may no longer be current. Visit the program website for updated information.  

 

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Down payment assistance programs and/or grants were researched by the team at FHA.com. Please note that all programs listed on this website may involve a second mortgage with payments that are forgiven, deferred, or subsidized in some manner until resale of the mortgaged property.

FHA.com's compilation is not a complete list, but it can serve as a starting point in your search for the down payment assistance program or grant for your situation. It is up to the consumer to contact these entities and find out the specifics of each program.

Down Payment Grants in Georgia

Augusta's Homeownership Assistance Program offsets the cost of upfront mortgage payments to help first-time homebuyers purchase a home in the Augusta-Richmond County.

The Department of Community Affairs in Georgia helps residents in particular counties finance their new homes through the Georgia Dream Homeownership Program. The program helps homebuyers afford decent housing by providing them with down payment assistance.

Down payment assistance funds are provided as a 5-year deferred payment loan with zero interest. As long as the homeowner remains the primary resident through the maturity date of the security deed, the lien is canceled and no payments are required. 

Neighborhood Works Columbus offers homebuyers a down payment assistance program that provides a set amount of money to qualified homebuyers to help them afford down payments on their homes.

Savannah's  Housing & Neighborhood Services Department offers different levels of down payment assistance to eligible applicants with the Dream Maker programs.

The Decide DeKalb Development Authority designed the WE DeKalb Program as an economic incentive to help employers in Atlanta attract and retain top talent by making homeownership in DeKalb County more affordable. 

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