Homestretch Down Payment Assistance 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 Gwinnett County
- Property must pass a Uniform Property Conditions Standards Inspection
- Property may not cost more than $181,000.00 for an existing home or $233,000.00 for new construction. [Effective 4/1/2018]
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.
Interested applicants may download the Homestretch pre-application form here. Once It has been completed it must be submitted to the Gwinnett County Community Development Program:
Gwinnett County Community Development Program
Attn: Homestretch Program
446 West Crogan Street
Lawrenceville, GA 30046
Email – firstname.lastname@example.org
Fax – 678-518-6071
For more information about the program and how it works, please download the Homestretch Program Overview.
For additional information or questions, please call (678) 518-6008 or e-mail email@example.com.