Home Buyer FAQ

Down payment assistance is money provided by government agencies, nonprofits, or housing authorities to help buyers cover the down payment and/or closing costs on a home purchase. Most DPA comes in two forms: grants (money you never repay) or forgivable loans (money that is forgiven — effectively free — if you meet certain requirements, typically staying in the home for 3–10 years).

All DreamHomeToday.net properties are in zones eligible for one or more DPA programs, and most qualify for multiple programs that can be stacked together for maximum benefit. See all available DPA programs →

Yes — and this is one of the most powerful strategies available to DreamHomeToday.net buyers. Multiple programs can often be combined on a single purchase, dramatically reducing your out-of-pocket costs at closing.

Common stacking combinations at DreamHomeToday.net properties include:

• Invest Atlanta ($20K) + ANDP First Gen ($12K) = $32,000 combined
• Atlanta Housing Authority ($25K) + Georgia Dream ($12,500) = $37,500 combined
• ANDP Veteran DPA ($15K) + Georgia Dream ($12,500) = $27,500 combined
• Fulton County ($15K) + FHLB ($15K) = $30,000 combined

Not every combination is allowed — program rules, property location, and lender participation determine what can stack. Your lender will confirm which combinations apply to your specific situation.

It depends on the program type:

• Forgivable grants/loans: If you stay in the home as your primary residence for the required period (typically 3–10 years depending on program), the money is fully forgiven — you never repay it. Invest Atlanta, Atlanta Housing Authority, ANDP, and FHLB programs are typically forgivable.
• Deferred second mortgages: The money is a zero- or low-interest second mortgage that becomes due when you sell, refinance, or move. Georgia Dream ($12,500) works this way — it's repaid from your sale proceeds, not from your monthly cash flow.

If you sell or move before the forgiveness period ends, you typically repay a prorated portion based on how long you lived in the home.

The maximum depends on your eligibility, the property location, and which programs you qualify for. In optimal cases, buyers have accessed $35,000–$55,000 in combined DPA assistance. A typical buyer with a qualifying income and an intown Atlanta property might access $25,000–$35,000.

The key variables are: (1) whether the property is inside Atlanta city limits (unlocks Invest Atlanta and AHA programs), (2) your AMI percentage, (3) whether you're a veteran, and (4) whether you're a first-time buyer or haven't owned in 3+ years.

It depends on the program. Some DPA programs are rate-neutral — your first mortgage rate is whatever the market offers. Others (particularly Georgia Dream) come with a slightly below-market rate tied to the program, which in many environments is actually an advantage. Your lender will present both scenarios so you can compare the true monthly cost of each option.

Most DPA programs require a minimum credit score of 620. However, the specific lender and loan type can influence this:

• FHA + DPA: Minimum 620 FICO for most program combinations
• Conventional + DPA: Typically 640–660 minimum
• VA + ANDP Veteran DPA: VA has no minimum, but ANDP typically requires 620+

If your score is below 620, our preferred lender Shannon Erickson can often provide a credit improvement roadmap showing exactly what to pay down or dispute to reach eligibility — many buyers achieve 620+ within 60–90 days of targeted credit improvement.

Yes — FHA is the most common loan type used with DPA at DreamHomeToday.net properties. FHA's 3.5% down payment requirement is typically fully covered (or exceeded) by DPA grants, meaning most FHA + DPA buyers have zero out-of-pocket for the down payment.

FHA loans require: 3.5% down (covered by DPA), 1.75% upfront mortgage insurance premium (can be financed), and a monthly MIP of 0.55–0.85% depending on loan term and LTV. All DreamHomeToday.net properties meet FHA minimum property standards.

This is the question we love to answer. With optimal DPA stacking, many DreamHomeToday.net buyers close with $500–$2,000 out of pocket. Here's how:

• Down payment: Covered by DPA grant(s)
• Closing costs (typically 2–3% of loan): Covered by DPA grant(s)
• Earnest money: $500–$1,000 (applied to closing costs, not lost)
• Home inspection: $300–$500 (paid before closing)

The biggest variable is how well the DPA grants cover your specific loan's closing cost structure. Your lender will provide a detailed Loan Estimate showing exactly what you'll owe at closing before you commit.

Most DPA programs and conventional loans want a DTI of 45% or below (total monthly debt including new mortgage payment divided by gross monthly income). FHA allows up to 57% DTI with compensating factors. VA loans are evaluated more holistically through a residual income calculation rather than strict DTI limits.

Because DPA reduces your loan amount, it also reduces your monthly P&I payment — which improves your DTI ratio. A buyer who doesn't qualify at a $200,000 loan might qualify at a $175,000 loan after $25,000 in DPA is applied.

Some programs require it, others don't. HUD's definition of "first-time buyer" includes anyone who has not owned a primary residence in the past 3 years — so if you owned a home 5 years ago and have been renting since, you may qualify as a first-time buyer for program purposes.

Programs that require first-time buyer status: ANDP First Gen/1st Time ($12K), Georgia Dream ($12,500 — first-time buyers only), some Invest Atlanta products.

Programs that do NOT require first-time buyer status: ANDP Veteran DPA ($15K — any veteran), FHLB ($15K), Atlanta Housing Authority ($25K), Fulton County ($15K).

From initial inquiry to closing, most DreamHomeToday.net transactions take 45–90 days. Here's a typical timeline:

• Days 1–7: Initial consultation, DPA eligibility review, lender introduction
• Days 7–21: Pre-qualification, homebuyer education course, property selection and tour
• Days 21–30: Purchase contract signed, DPA application submitted
• Days 30–60: Loan processing, DPA fund reservation, appraisal, inspection
• Days 60–75: Clear to close, final walkthrough, closing

DPA transactions take slightly longer than conventional deals because of the additional program application and fund reservation steps. Budget for 60–75 days as a realistic expectation.

You can legally buy directly from a builder without a buyer's agent — but in DPA transactions, having an experienced agent is effectively a requirement, not a luxury. Here's why:

• DPA applications require precise coordination between agent, lender, and program administrator — timing errors can kill a deal
• Builder contracts are written to protect the builder, not you — a buyer's agent reviews and negotiates these terms on your behalf
• DPA eligibility windows (fund reservations) can expire if paperwork is slow — an agent ensures the timeline stays on track

Michael Oden (our agent) is compensated by the builder's commission, not by you — there is no cost to the buyer for representation on DreamHomeToday.net properties.

Most DPA programs require completion of a HUD-approved homebuyer education course before you can receive DPA funds. The standard course is 8 hours and covers budgeting, the mortgage process, buyer responsibilities, and homeownership maintenance.

You can complete the course online through providers like eHome America or Framework at home, at your own pace, for $75–$125. The certificate is valid for 12 months. We recommend completing it early in the process — it cannot be done after closing.

Some DreamHomeToday.net properties are under construction at the time of sale. You sign a purchase contract before completion, and your lender and DPA funds are locked in during the construction phase. Most programs allow a 60–120 day construction window between contract and close.

The risk of new construction: completion timelines can slip due to weather, materials, or permitting. If your DPA fund reservation expires before closing, it may need to be renewed (usually possible but requires proactive communication with your lender and DPA servicer). Michael will monitor the builder's timeline and coordinate with your lender to ensure nothing falls through the cracks.

All DreamHomeToday.net properties are new construction, built by 3384 Residential. The portfolio includes:

• Single-family homes: 3–4 bedroom detached homes on individual lots (e.g., 585 Woods Drive, 672 Commercial Ave, 2284 Tiger Flowers Dr)
• Townhomes: Multi-story attached townhome communities with HOAs (e.g., Austin Walk, Vesta Station, Stanton Station, Campbellton X)

All properties are brand new, FHA-eligible, and in DPA-eligible zones. Browse all available properties →

Prices vary by property and market timing. Generally, DreamHomeToday.net properties range from approximately $175,000 to $325,000, with most intown Atlanta single-family homes in the $200,000–$260,000 range and townhome communities in the $220,000–$300,000 range. Visit each individual property page for current pricing and availability — pricing is updated as units sell and new phases release.

It depends on how far along the build is when you purchase. If you buy early in the construction cycle, 3384 Residential may allow selection of flooring, cabinet finishes, and fixture packages. If the home is near completion, finishes are already set. Michael can confirm what selection opportunities exist for specific properties at the time of your tour.

Townhome communities typically have HOAs that cover shared exterior maintenance, landscaping, and community management. Single-family detached homes generally do not have mandatory HOAs. Current HOA fee ranges for townhome communities are approximately $80–$200/month depending on the community. Confirm exact amounts with Michael for the specific community you're considering — fees are set by the HOA and confirmed at closing.

Not during the DPA forgiveness period. All DreamHomeToday.net properties require owner-occupancy as a condition of both the purchase contract and the DPA programs. Renting the entire property before the forgiveness period ends (typically 3–10 years depending on programs used) would trigger repayment of DPA funds.

After the forgiveness period ends, you're free to rent, sell, or do anything else with the property — with no DPA repayment obligation. Full owner-occupancy guide →

Life happens. If you need to sell early, the DPA second lien is discovered during the title search and must be resolved at closing. Most programs require prorated or full repayment from your sale proceeds — but if the home has appreciated (which is typical given Atlanta's trajectory), you'll still likely walk away with positive equity after repayment.

Contact your DPA program servicer and your agent before listing the property to understand exactly what repayment amount applies.

Most programs allow renting a single room (boarder) while you continue to live in the property as your primary residence. What's prohibited is renting the entire unit. Verify with your specific DPA program servicer before doing so — program rules vary. In no case should you stop residing in the home as your primary residence during the forgiveness period.

Yes. The ANDP Veteran DPA ($15,000) is explicitly designed to stack with VA loan financing. With a VA loan (no down payment required) plus the $15,000 DPA applied to closing costs, most veteran buyers close with zero to minimal out-of-pocket cash.

The ANDP Veteran DPA requires use of an ANDP participating lender. Our preferred lender Shannon Erickson is an ANDP participating lender who also handles VA loans. Full veteran buyer guide →

VA loans on new construction require that the builder is VA-registered and that the property meets VA minimum property requirements (MPR). 3384 Residential builds to VA standards, and all DreamHomeToday.net properties are VA-eligible. The VA appraisal process for new construction is slightly more involved than for existing homes — budget an additional 1–2 weeks for this step. Your lender will manage the VA appraisal order on your behalf.

Yes. Surviving spouses of veterans who died in service or from a service-connected disability are eligible for VA home loan benefits. They are also eligible for the ANDP Veteran DPA program, which explicitly includes surviving spouses in its qualifying criteria. You'll need a VA Certificate of Eligibility (COE) confirming surviving spouse status — your lender can help obtain this.