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Georgia Dream PEACH SELECT VA Loan Program Intro: No DPA
As Such
But The Lowest Rate Around Instead
What Should YOU
Expect Here?
SUMMARY
Of This PAGE
Georgia Dream PEACH SELECT VA Loan Program Intro: No DPA As Such But The Lowest Rate Around Instead
Designed Exclusively To Empower Georgia Veterans, Some Active Members of Armed Forces
& Unmarried Widows Of Veterans & widows of MIAs
It is based on VA loans …only with much better % rates
YOUR DD214 is a MAJOR requirement.
NO Lottery!
Serving ALL Georgia 159
Year round.
Funds do not run out
MAJOR REQUIREMENT: YOU MUST BE a Veteran or a Widow of a Veteran or a Widow of a MIA
Veterans have NO RESTRICTION ON PREVIOUS OWNERSHIP
Make sure your DD214 is fully restored at time you want to close the new house.
Lower Interest.
NO MI – Mortgage Insurance! (Per VA Regulations)
Plenty of participating lenders generate your loan.
I am always here to help!
What Sets The
PEN DPA PROGRAM
A PART From the other 5?
WHO MAY QUALIFY For Georgia Dream
PEACH PREFERED VA ASSISTANCE:
MAJOR REQUIREMENT: YOU MUST be a Veteran OR at certain level of the active-duty personnel will benefit from this program
Surviving spouses of deceased Vets and MIA also may qualify
Let’s check your DD214
This is a double government loan: FHA & VA combined
There is NO DPA as such …instead, Peach Select is a RATE-FOCUSED program for VETS
Typically, PEACH SELECT VETERANS ASSISTANCE – charges a lower percentage rate which is +/- 2% LESS than the prevailing market rate
The DPA Based programs also receive a rate which is below the prevailing market …however VA Loans are still much lower
So, the MUCH LOWER % Interest lower is another MAJOR Differentiator from all the others Down Payment Assistance (DPA) Programs
Which is to say: If there is no DPA, therefore there is NO SECOND MORTGAGE
Just so we are ALL on the same page:
a) Down Payment Assistance (DPA) is a percentage of the purchase price which is offered by an institution - in this case Georgia DreamEach Institution handles their DPA in different fashion
Georgia Dream handles it in the form of a “Silent 2nd Mortgage:”
Recipient does NOT pay any Interest NOR the Principal for as long as they live in the property …even if they live there for 30 or 40 years!
Georgia Dream Programs - requires The Principal to be repaid when house is sold or refinanced.
However it is repaid at ‘face value:’ If you receive $10,000 or $12,500 DPA today - that’s how much you pay back even it is 30/40 years from now!
I repeat here: VA Assistance was designed in such way that VETs do NOT have ‘silent 2nd Mortgage and VETs interest rates are always lower than all other programs.
There is NO LIMITATION limitation of previous ownership! VETERANS can SELL one house and buy another immediately there after
Lower Interest typically +/- 2% lower than market rate.
Actually Georgia Dream Peach Preferred Veterans Assistance has been consistently the lowest mortgage in the market. Period!Only $500.00 down payment at closing
A Wicked Low % Rate Georgia Dream PEACH SELECT VETERANS ASSISTANCE
Empowers Veterans who served honorably to become homebuyers!
(Widows of Vets
And MIAs too)
THERE ARE REQUIREMENTS:
I keep saying ‘may qualify’ because there are REQUIREMENTS which must be reviewed and analyzed by a DPA Specialist – like me - AND a loan officer needs to pull your Credit Report before giving you the final say.
LASTLY – conditions may change and can improve: If you follow my advises, we can qualify you either a bit later OR next year.
In another program, I did exactly that for another buyer 9 years ago: He waited from one year to the next! He bought a house for less than $200,000 …fast forward: His house is now worth OVER $600,000!
Patience and diligence pay BIG dividends!
GEORGIA DREAM PEACH PREFERRED VETERANS ASSISTANCE – Most Important Requirements And Highlights – Are Laid Out Here:
MAJOR REQUIREMENT: This program is strictly for ALL Georgia VETERANS – who served honorably may qualify for this program
ACTIVE MEMBERS of the ARMED FORCES – may also qualify for this program
Ditto for Surviving Spouse of a Veteran or MIA
This is NOT a “First-Time Buyer Program.” VETERANS may buy a new home as soon as your DD214 is made whole… There is no TIME restrictions AND you are ready to go!!!
640 FICO SCORE minimum – the same for ALL Georgia Dream programs
ASSETS LIMIT: Have liquid assets of no more than $20,000 or 20% of the sales price (whichever is greater). Example: House purchase price: $250,000 X 20% = $50,000 – that’s is the buyer’s max ‘liquid’ funds allowed
INTEL: RETIREMENT ACCOUNTS – are NOT considered liquid assets
INCOME LIMIT: It varies by the city/county you want to buy a house. For updated values where you are – Please click here to check
(ONLY) $500 down payment out of your pocket AT CLOSING
YOU also MUST Register, Attend and Pass in a “HOME OWNERSHIP EDUCATION CLASS” – 4 to 5 hours. Paid directly to whichever provider you select, some are free.
Cost: $ZERO to $50
Please see link to class provider below
“Homeownership Education Class” –
List of All AUTHORIZED Agencies of “Home Ownership Education” providers - across Georgia, please click here
Don’t be afraid, this is NOT a ‘gotcha!’ thing!
Folks there WANT YOU TO SUCCEED!
Both on the test AND as a FUTURE HOMEOWNER!
They will coach you into success! YOU will understand why you are in the class for: Then, the right answer will pop up from the wrong ones.
You will learn skills on how to attain AND preserve your future home!
You will see the right answer
Property will be your primary residence
YOU must occupy the house within 60 days
ALL OTHER LENDERS – (outside the Georgia Dream Program) - require Tax Return only for the immediate past 02 years …Georgia Dream wants to see income tax for the immediate 3 years
Loans must be originated by Participating Lenders …which there is plenty to choose from!
(INTEL: Georgia Dream does NOT originate ANY loans)
THERE ARE GREAT BENEFITS Built-In
VETERANS do NOT have limitation of previous ownership. As long as previous home does NOT show in your DD214 any longer - you are ready to buy your new home under Georgia Dream in a moment’s notice.
VETERANS receive the lowest % interest rate of ALL 6 Georgia Dream Programs
Lower Interest Rate Loans typically +/- 2% lower than the prevailing market rate
(ONLY) $500 down payment out of your pocket AT CLOSING
NO MI – Mortgage Insurance! (Per VA regulations)
Tremendous savings here!!! Typically, MI runs .5% to .9% per year.
EXAMPLES:
1) In a house purchase of $200,000 it is $1,000 to $1,800 saving per year!2) In a house house purchase of $300,000 it is $1,500 to $2,700 saving per year
..Now, multiply that for 20 or 30 years!
Do you see what I mean by “TREMENDOUS SAVINGS?”
OUT OF POCKET EXPENSES BEFORE CLOSING:
Here are some expenses that YOU will incur
In ALL House Financing – Either with Georgia Dream OR NOT – BEFORE CLOSING – for:
Credit Report – paid to the lender +/- $50/125
Property Appraisal – paid directly to the Inspection Company COST: $500 $700 = mandatory by ALL lenders and it is NOT only required by Georgia Dream… ALL LENDERS must know if the house meets OR exceeds the price which is being paid for
“Homeownership Education Class” – paid directly to whichever provider you select, some are free. Cost: $ZERO to $50
List of AUTHORIZED “Home Ownership Education” providers, please click here
You pay directly to them!
AND NO – I do NOT provide such classes.
House Inspection (optional) – paid directly to the company / or inspector – whomever you chose $400/700 depending on the square footage.
This is OPTIONAL… BUT: do you want to skimp on $400/$700 against a $200K to $400,000 house?
Moving in NOT knowing what might be wrong in the house?
Yup! I don’t think so!
PS: I DO NOT provide any of these services: THIS IS NOT WHY I WRITING THIS (ALREADY) MONSTER BIG SITE!
First: I want to help people ALL OVER GEORGIA!
Independently if I am your REALTOR or NOT!
Secondly: YES! IF YOU STILL NEED AN AGENT TO REPRESENT YOU AND GET YOU OVER THE FINISH LINE – I WOULD LOVE TO BE YOUR REALTOR!
I AM ALWAYS HERE TO HELP!
Search Here ALL Intel Within This Site
INCLUDING To Find Any Types
Of Homes By City, # Bedrooms AND Price U Want
A Community Of Likeminded
Home Life Style Dreamers
Please take a minute to write us a review: short, sweet, and to the point.
YOUR Opinion Does Matter!
AND… BINGO!!! YOU are the newest PROUD
GEORGIA HOMEOWNER – under Georgia Dream CHOICE DPA!!!
Easy, hum?!
These are the easy peasy bullet format quick ’lemon squeezy’ reading to get you up to speed with the program.
I have another robust page that will bring you rich details, should you need or want them:
GEORGIA DREAM PEACH PREFERRED VETERANS ASSISTANCE DP Full Version
Still More Choices
Here are the other Five Georgia Dream Homeownership Program I would like to make sure YOU are aware of …who knows one them could be fit YOUR circumstances better OR, perhaps, YOU may recommend to a friend:
Georgia Dream STANDARD DPA Program Intro
Georgia Dream CHOICE DPA Program Intro
Georgia Dream PEN – PROTECTORS – EDUCATORS & NURSES DPA Program Intro
MAY I BE OF SERVICE?
I would so love to be
YOUR REALTOR!
Or should any question arise:
I hope I have proved
‘beyond any reasonable doubt’
That I Am A DPA Specialist
And I will work AS HARD
For YOU!
Search Here ALL Intel Within This Site
INCLUDING To Find Any Types
Of Homes By City, # Bedrooms AND Price U Want
Is there anything
you still need
to know about which
is not in this
Georgia Dream PEN DPA Intro Up To 12,5K Dollars For Protectors, Educators & Nurses First-Time Buyer page?
My dog, Yolo, hard at work
Please click on the photo
and let me know
Because my dog, YOLO,
would love to fetch it for you!
Looking for a new home?
Maybe I cannot find YOU
The ‘house of the future’
(As Yet)
But I certainly can find
YOUR FUTURE HOUSE!!!
Click on the photo to
contact me
I would so love to serve
as your REALTOR!
I am here to help!
