Buying a home is a great way to build wealth but it can be complicated. It’s useful to meet with a housing counselor who will help you review and repair your credit, understand different down payment programs and find the best mortgage.
How do I find a housing counselor?
D & E, A Financial Ed and Training Institute
4532 Jonesboro Rd
2nd Floor
Forest Park, GA 30297
(770) 961-6900
The Center for Working Families
477 Windsor Street
Suite 101
Atlanta, GA 30312
(404) 223-3303
The Impact! Group
1845 Satellite Boulevard
Suite 100
Duluth, GA 30097
(678) 808-4477
ACE Development Corporation
215 Lakewood Way
Suite 104-B
Atlanta, GA 30315
(404) 627-5920
DeKalb/Fulton Housing Counseling Center
233 Mitchell St., SW, Suite 100
Atlanta, GA
(404) 659-6744
Fulton Atlanta Community Action Authority
151 Ponce de Leon Ave.
Atlanta, GA
(404) 810-0090
Atlanta Urban League
100 Edgewood Ave., NE, Suite 600
Atlanta, GA
(404) 659-1150
Consumer Credit Counseling Service
100 Edgewood Ave., NE, Suite 1500
Atlanta, GA
(404) 527-7630
How do I save for a down payment?
For many people, saving enough money for a down payment is the hardest part of buying a home. This is especially true for first-time home buyers. To help, lenders offer many special loan programs so that you can put less money down up front. Some loan programs are for first-time home buyers, while others help people who earn limited incomes. The government and local nonprofits may also give grants to help people buy a home.
How do I find down payment assistance organizations?
ACORN Housing Corporation (Acorn)
250 Auburn Ave, NE, Suite 308
Atlanta, GA 30303
(404) 525-0033
Atlanta Center for Homeownership
228 Auburn Avenue
Atlanta, GA 30303
(404) 588-3700
www.atlantahomeownership.com
Affordable Houses, Inc.
890 Waddington Court, NE
Atlanta, GA 30350-4457
(770) 668-9345
DeKalb County Human and Community Development Dept
1807 Candler Road
Decatur, GA 30032
(404) 286-3308
Fulton County, Environment & Community Development
141 Pryor Street, SW, Ste 5001
Atlanta, GA 30303
(404) 730-8000
Metro Fair Housing Services, Inc.
PO Box 91125
Atlanta, GA 30364-1125
(404) 765-3940
How do I apply for a mortgage?
Most people borrow money to buy a home. This money is usually a long-term loan, called a mortgage, which you have to pay back over time (15-30 years.) To qualify for a mortgage, banks will want to look at your credit history, monthly income and the savings you’ll use to pay for the down payment. In the past, most banks wanted people buying homes to have at least 20% of the cost of the home saved, but today there are many more types of mortgages available. In some cases, banks offer mortgages that cover almost 100% of the cost of the home and even have special programs for people who have problems with their credit.
How do I find a mortgage assistance organization?
A-HOUSE Program Alliance, Inc.
PO Box 50451
Atlanta, GA 30302
(404) 872-3396
www.ahousebuyer.com
Asset Property Disposition, Inc.
P.O. Box 491408
Atlanta, GA 30349
(404) 762-0655
www.assetproperty.com
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Watch Out for Predatory Lenders!
Watch out for mortgage lenders or brokers who seem to give you a deal that is too good to be true. These businesses may be predatory lenders- lenders who will give you loans with high interest rates and hidden fees. These businesses may come door to door or try to disguise their bad loans by using a name from a government program. They may even tell you that another bank won't give you a loan because of your credit history or income. When this happens, never sign any papers without reading and understanding the loan details completely. If possible, have someone you trust, like a community counselor, read through the documents with you before you sign.
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The Community Housing Resource Center has a long list of organizations in the Atlanta area that provide homebuyer education, credit counseling and down-payment assistance.
Contact the Community Housing Resource Center at:
659 Auburn Ave., NE, Studio 153
Atlanta, GA 30312
(404) 658-1322
info@chrcatlanta.org
www.chrcatlanta.org
