***Hall County is not currently accepting applications for this program.***
About the Program: The Homestretch Down Payment Assistance Program provides down-payment assistance to income-eligible homebuyers who have the capacity to purchase a home but lack the money needed for a down-payment. We offer down-payment assistance up to $7,500 as a five-year deferred payment loan with 0% interest to qualified homebuyers who occupy the home as their principle residence for a period of at least five years.
In order to qualify for this program, applicants must meet the following criteria:
•Must earn below 80% of Area Median
•Must be a first-time homebuyer
•Must have at least one credit score above 640
•Debt-to-Income Ratio cannot exceed 43%
Please click here to see the current income eligibility limits for this program. Additionally, this program contains property eligibility requirements that are as follows:
•Property must be either a single-family detached home or townhome
•Property must be located within Hall County
•Property must pass a Uniform Property Conditions Standards Inspection
•Property may not cost more than $165,000.00 for an existing home or $228,000.00 for new construction
Once an applicant is determined to be eligible for this program, it will take 30 days for a check to be drafted for the down-payment funding.