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Mortgage Assistance Program (MAP) |
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Up to $50,000 in Mortgage Assistance for Future Atlanta Homebuyers
Presented by The Atlanta Renewal Community and the City of Atlanta Bureau of Housing, the Mortgage Assistance Program (MAP) can provide up to $50,000 in funding needed to help you purchase a home in one of 30 targeted intown neighborhoods. This is a forgivable loan, which means if you meet all the requirements of the program and remain a homeowner; any money received from MAP will not have to be repaid.
You can finally afford to own a home in the city.
With a forgivable MAP loan, you can
- Make a down payment on a home
- Apply it to principal and interest rate reductions
- Pay for closing costs
- Pay for gap financing
Are you eligible?
MAP funding is available to a resident who can meet the following criteria:
- Does not currently own a house
- Is a U.S. Citizen or permanent resident alien or has a current work authorizing Visa
- Annual income is less than or equal to 50% of the Area’s Median Income (AMI)* to receive up to $50,000 or
- Annual income between 51% and 100% of the AMI to receive up to $30,000
- Attend a first-time homebuyer seminar
- *The Atlanta Area Median Income (AMI) is $69,000.
Based upon qualifying guidelines from The U.S. Department of Housing and Urban Development (HUD), if your annual income for a household of two people is no more than $28,500 for example, you may be eligible to receive up to $50,000 in a forgivable loan. If your annual income for a household of four people is no more $56,950, you may be eligible to receive up to $30,000 in MAP funding. (View AMI Chart )
In order to pre-certify that you are eligible for a MAP grant, you will need to provide:
*The size of your current household
*Your annual household income
For more information, contact The Bureau of Housing at 404-330-6390 or visit www.atlantaga.gov.
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