Gwinnett County is among a few municipalities who have rolled out their NSP Down Payment Assistance Program.  Qualified buyers using this program may qualify for up to $22,500 in down payment assistance for the purchase of Gwinnett County-owned, rehabbed properties.  The funds are provided as a soft second mortgage that accrues no interest nor requires any monthly payment for the life of the loan, and is completely forgiven if the buyer remains in the home for fifteen years.   According to the program guidelines, a qualified buyer is one who meets the income limits and is either:

• A first time home buyer (having not owned a home in the previous three years) or,
• Is employed by a government unit, educational unit or healthcare provider, or
• Is a surviving spouse of a military serviceperson or public protector (first-time home ownership status not required), or
• Is a single parent (first-time home ownership status not required)

Attendance at a HUD-approved, eight-hour home buying class is required prior to closing.  In addition, the borrower must use a mortgage with a fixed interest rate, must occupy the home as their principal residence and must contribute at least one-percent of the purchase price toward the transaction.

About the properties
Properties available for purchase through this program were bank-owned homes located primarily in central and south Gwinnett County.  They were purchased by the county, completely restored, priced below market value and then returned to the market.  Because the county is also facilitating the down payment assistance program, the purchase process should be fairly seamless for informed, qualified home buyers.  

The county intends to purchase up to 100 homes, but only a few are currently available.  See the flier to the left of the screen at AtlantaDownPaymentAssistance.com for the details about the Gwinnett County NSP program, including the income limits and more.   If you are not currently working with an agent, please call for a free list of available properties and HUD-approved counseling agencies at (678) 775-2677.  Please leave a message and your call will be returned.

Solomon Greene
REALTOR® / HUD-Certified Affordable Housing Counselor – Keller Williams Realty Atlanta Partners