Trulia Community - Advice from neighbors and local experts

Find Your Community
We couldn't find that location. Please try again.
Get Expert Advice

Home Buying in Doraville : Real Estate Advice

  • All16
  • Local Info4
  • Home Buying3
  • Home Selling1
  • Market Conditions0

Activity 3
Sun Oct 24, 2010
William Polack answered:
You are very fortunate to have Mr. Greene answer your question. This man is the king of information especially when it comes down to assistance programs. Much of what I get comes from his website. I give him a thumbs up!

GA Dream is income driven. It's a program that allows up to $5000 for first time home buyers and up to $7500 for County or City employees. There are 2 parts to this program: The "loan" as just mentioned and a second loan which assists you with closing costs etc. Both loans must be paid back if you refinance or sell the house within a certain time frame.

NSP (Neighborhodd Stabilization Program) asks that you live in a Kevlar vest/drug infested area of town which allows you to buy homes at a discount (hey you wanted straight forward).

USDA (US Dept of Agriculture) asks that you live in a place way out in the sticks. You get 100% financing with no mortgage insurance. Not all places are in the sticks, but it sure feels like it.

HUD $100 down program allows you to buy HUD foreclosed properties with $100 down and you may borrow an additional $5000 to fix up the house. If the house requires more than $5000 in repairs, the loan converts to a 203K loan which allows up to 35K or 110% of the after repair value in repairs, whichever is less.

GA dream tends to run out of money at times as does the USDA loan. If you or your spouse is a military Veteran, you may also qualify for a 100% financing loan with no mortgage insurance. I've reference the HUD site for foreclosures.
... more
1 vote 3 answers Share Flag
Sun Mar 9, 2008
Judy Wittenberg answered:
Renee,

I can't really answer that question for you....mainly because I am not allowed to due to Fair Housing Laws. But even if I was allowed to answer that question, I couldn't without knowing anything about you. What I would recommend that you do is go over there at different times of day and talk to the people who have already moved in. (I would recommend that no matter where you were thinking of moving to). Go early in the morning, go in the evening, drive through on a weekend. Now that the weather is getting nicer, more people will be outside. Only you can tell if you are going to be comfortable there and its worth taking the time to figure that out if you have the time. Do you live in the area now? If you want to email me offline, my email address is jwittenberg@prudentialga.com. ... more
0 votes 3 answers Share Flag
Search Advice
Search

Followers

122