Key takeaway
The Georgia Dream Homeownership Program, run by the Georgia Department of Community Affairs (DCA), pairs a 30-year fixed first mortgage at 6.375% (rate effective October 1, 2026) with down payment assistance of 5% of the price or $10,000, whichever is less, or $12,500 for PEN and Choice households. The assistance is a 0% loan with no monthly payment that you repay when you sell, refinance or move out. In Cobb, Cherokee and Paulding counties you need a price under $625,000, household income under $137,555 (one or two people) or $158,188 (three or more), a 640 credit score and a homebuyer course.
At a glance
| Assistance (2026) | 5% or $10,000; PEN/Choice 6% or $12,500 |
|---|---|
| Repayment | 0% loan, no payment, due on sale, refinance or move-out |
| First mortgage rate (Oct 1, 2026) | 6.375%, 30-year fixed |
| Cobb price limit (July 2026) | $625,000 |
| Cobb income limit (July 2026) | $137,555 (1-2 people); $158,188 (3+) |
| Minimum credit score | 640 |
How Georgia Dream works
DCA created Georgia Dream to help low and moderate income Georgians buy through affordable financing, down payment assistance and homebuyer education. DCA does not lend to you directly. It acts as a secondary market: you apply with one of its participating lenders, the lender makes the loan under DCA's rules, and DCA buys it.
Every Georgia Dream purchase has two pieces. The first mortgage is a 30-year fixed FHA, USDA, VA or conventional uninsured loan at DCA's posted rate. The second is the down payment assistance, a 0% loan that sits behind the first mortgage. Georgia Dream is the first-time buyer product in a family that also includes Peach Plus, Peach Advantage and Peach Select VA; how those compare is on our PEN, Choice and Peach Plus guide, and every other statewide and Cobb option is on our Georgia first-time home buyer programs guide.
Georgia Dream eligibility requirements for 2026
First-time buyer rule
You must not have owned a principal residence at any point in the three years (36 months) before your Georgia Dream loan closes. Joint ownership, co-op shares, a life estate, a land contract or a trust interest in a home you lived in all count as ownership. A lease with a purchase option, an expected inheritance, a contract that has not closed, or an investment property does not.
If you owned a home elsewhere but have not lived in it for three years, you may still qualify by showing it was rented or occupied by others, but you cannot own any other real estate when the loan closes. Lenders verify all of this with your last three years of tax transcripts. The rule is waived in targeted counties and census tracts, so ask your lender whether the address you want is on DCA's list.
Income limit
The limit is set by county and household size and counts the income of everyone in the household, with some exclusions such as students under 18. In Cobb, Cherokee and Paulding it is $137,555 for one or two people and $158,188 for three or more (DCA brochure, July 2026). For comparison, the Athens metro limit is $118,152 and $135,875, and the limit in most other Georgia counties is $101,700 and $116,955.
Purchase price limit
The maximum sales price in Cobb, Cherokee and Paulding is $625,000. That sits well above Zillow's August 2026 typical values for Acworth ($406,860), ZIP 30101 ($432,126) and ZIP 30102 ($378,558), so in Acworth the price cap rarely decides eligibility.
Credit score
DCA requires a minimum middle credit score of 640 (660 for a manufactured home on Peach Advantage). If you are below that, DCA's "Ready, Set, Go" program offers online and one-on-one pre-purchase counseling for $50 to help you get there.
Debt-to-income ratio
DCA does not publish a single maximum debt-to-income ratio. It varies by your credit score under DCA's program matrices, so a participating lender has to run your numbers. Ask for the ceiling that applies at your score before you start shopping.
Homebuyer education
Every Georgia Dream borrower must complete homebuyer education, first-time or not: a workshop or individual counseling with a DCA- or HUD-approved agency, or DCA's E-Home America online course. Classes cost $50 to $100 and the online course is $50, and the certificate must be dated within 12 months of closing. Our homebuyer education course guide covers your options.
Cash: your $1,000 and the asset cap
You must put in at least $1,000 of your own money or documented gift funds ($500 on Peach Select VA). You also cannot have too much: liquid assets after closing must be no more than $20,000 or 20% of the price, whichever is greater. On a $406,860 home that cap is $81,372. IRAs and 401(k)s do not count.
Property type
The home must be a one-unit property you live in as your primary residence. Two-to-four unit homes, mobile homes and other non-permanent structures, undeveloped land and timeshares are not eligible.
What Georgia Dream gives you
Standard assistance: up to $10,000
Any eligible Georgia Dream borrower gets 5% of the purchase price or $10,000, whichever is less. The cap takes over at $200,000, so on almost any Acworth home you receive $10,000: on the $406,860 typical value, 5% would be $20,343.
PEN: up to $12,500 for protectors, educators and nurses
If you currently work as a protector, educator, or nurse or other health care worker, or you are in the active military, assistance rises to 6% of the price or $12,500, whichever is less. DCA defines the qualifying jobs in its program manual, so confirm yours with the lender.
Choice: up to $12,500 for households with a disability
Choice pays the same 6% or $12,500 if anyone in your household has an eligible disability. It does not have to be the borrower.
How you repay the assistance
The assistance is a 0% second mortgage with no monthly payment, recorded as a lien on the home. It is not forgivable: you repay the full amount when you sell, refinance or stop living in the home as your primary residence. If you take $10,000 and sell six years later, you repay $10,000 from the sale, no more. DCA also notes that its programs may carry an IRS recapture tax for nine years after closing; ask your lender how that could apply.
The first mortgage and current rates
DCA publishes the rate for every Georgia Dream loan, and it typically changes weekly. These are the rates effective October 1, 2026:
| Product | Rate (30-year fixed) |
|---|---|
| Georgia Dream first mortgage (FHA, VA, USDA, conventional uninsured) | 6.375% |
| Peach Select VA | 5.375% |
| Peach Plus (FHA or VA) | 7.125% |
| Peach Advantage (conventional) | Daily rate sheet, ask the lender |
Freddie Mac's national 30-year average for the week of October 1, 2026 was 7.28%. Lenders may not charge discount points or unusual fees on Georgia Dream loans, origination is capped at 2% of the loan (1% on VA), and the first mortgage has no prepayment penalty. Current rates and how to compare offers are on our Georgia Dream lenders and rates page.
Worked example: Georgia Dream on a ZIP 30102 home
ZIP 30102, which Zillow files under Cherokee County, had a typical home value of $378,558 in August 2026. Cherokee uses the same Georgia Dream limits as Cobb. Here is the math with an FHA first mortgage at DCA's 6.375% (effective October 1, 2026). It is arithmetic, not a quote.
Cash for the down payment
- FHA minimum: 3.5% x $378,558 = $13,250
- Standard assistance: 5% would be $18,928, so the $10,000 cap applies and you bring $3,250
- PEN or Choice: 6% would be $22,713, so the $12,500 cap applies; your share would be $750, which is under the $1,000 minimum contribution, so you still bring at least $1,000 (ask the lender how the difference is applied)
Monthly payment
The base loan is $378,558 - $13,250 = $365,308. Adding FHA's 1.75% upfront premium ($6,393) gives $371,701. Principal and interest at 6.375% over 30 years is about $2,319 a month, plus about $167 a month of FHA annual premium (0.55%) in year one, before tax and insurance. The assistance adds $0 a month. The asset cap on this price is $75,712 (20% of $378,558).
Georgia Dream limits for Cobb, Cherokee and Paulding counties
All three Acworth counties are in DCA's Atlanta-Sandy Springs-Roswell group, along with Bartow, Fulton, Gwinnett and 18 other metro counties, so the same limits apply whichever side of a county line your home is on. These figures come from DCA's July 2026 brochure.
| Product | Max price | Income, 1-2 people | Income, 3+ people | Assistance |
|---|---|---|---|---|
| Georgia Dream Standard | $625,000 | $137,555 | $158,188 | 5% or $10,000, whichever is less |
| Georgia Dream with PEN or Choice | $625,000 | $137,555 | $158,188 | 6% or $12,500, whichever is less |
| Peach Select VA | $625,000 | $137,555 | $158,188 | None from Georgia Dream |
| Peach Plus | $725,000 | $206,333 | $237,282 | 3.5% or $10,000 (4% or $12,500 with PEN or Choice) |
| Peach Advantage | $725,000 | Up to 150% of area median income | Up to 150% of area median income | Up to 5% of the first mortgage |
DCA's "Georgia Dream Loan Options" page still shows older figures: a $425,000 price limit and $120,439 and $138,505 income limits for the standard program. The brochure and DCA's products page show the higher limits above. Confirm the current figures with a participating lender before you rule yourself in or out.
How to apply for Georgia Dream
DCA lays out the process in nine steps; this is the same order, grouped. DCA says many purchases close in about 30 to 45 days; georgia.gov estimates about 60 days from application to closing.
Step 1: Check that you are ready
Confirm your middle score is 640 or higher, your household income is under the limit, and you can bring at least $1,000. Work out a monthly budget you are comfortable with before a lender gives you a maximum.
Step 2: Complete homebuyer education
Take the course early. It covers budgeting, the buying process and upkeep, and the certificate must be dated within 12 months of closing.
Step 3: Apply with a participating lender
Only DCA's participating lenders can make Georgia Dream loans; DCA's list had 107 lenders on October 6, 2026, named without locations. georgia.gov lists the paperwork: three consecutive years of IRS transcripts, signed tax returns, a credit and fraud report, a signed application affidavit and a signed letter covering your past addresses and homeownership history. Expect pay stubs, W-2s and bank statements too.
Step 4: Find a home and sign a contract
Shop under the $625,000 price limit for a one-unit home you will live in. Your lender locks the rate, generally for 75 days or until the contract's closing date, whichever comes first.
Step 5: Appraisal, title and underwriting
The lender orders the appraisal and title work and approves the loan under its own and DCA's rules.
Step 6: DCA compliance review
The lender sends the file to DCA, which reviews it for program compliance. This takes at least 10 business days and longer in busy seasons, so build it into your closing date.
Step 7: Close
DCA requires a wet closing, meaning the loan funds the same day you sign. Bring your cash to close; our Georgia closing costs guide shows what to budget.
Step 8: After you move in
State Home Mortgage services Georgia Dream first mortgages (1-800-781-8346). File for your Georgia homestead exemption, and remember that the assistance comes due when you sell, refinance or move out. DCA's homeownership line is 1-800-359-HOME (4663).
Approved Georgia Dream lenders
DCA publishes its participating lender list on dca.georgia.gov. On October 6, 2026 it named 107 lenders, linked to their websites, with no branch locations or phone numbers, so the list cannot tell you which ones work near Acworth. This site does not recommend lenders. Call two or three from DCA's list, ask whether they close Georgia Dream loans in Cobb County, and compare their Loan Estimates. Questions worth asking are on our lenders and rates page, and Cobb's own grant is covered on our Cobb County homebuyer assistance guide.
Pros and cons of Georgia Dream
Whether Georgia Dream is worth it depends on how long you plan to stay and how much cash you have. These are the trade-offs DCA's own rules create.
Pro: it covers most of an FHA down payment
On Acworth's typical $406,860 home, FHA's 3.5% minimum is $14,240. Georgia Dream's $10,000 leaves you $4,240 to bring, and PEN or Choice's $12,500 leaves $1,740.
Pro: no interest and no payment on the assistance
The second mortgage adds nothing to your monthly payment and does not grow while you live there. You repay exactly what you borrowed.
Pro: a published rate and capped fees
DCA posts one rate for everyone, 6.375% for the first mortgage as of October 1, 2026, and bars discount points and uncommon fees.
Con: you repay it when you sell or refinance
If rates fall and you refinance, the $10,000 or $12,500 comes due at that point. Selling within nine years can also bring the IRS recapture tax into play.
Con: income, price and savings caps
Earn above $137,555 (one or two people) or hold more than $20,000 or 20% of the price in liquid assets after closing, and you are out of the standard program.
Con: extra steps and time
The course, three years of tax transcripts, DCA's 10-business-day review and a same-day wet closing add work and time compared with a regular FHA or conventional loan. I can help you plan a contract timeline that leaves room for DCA's review.
Common questions
Do you have to pay back a Georgia Dream loan?+
Yes. The down payment assistance is a 0% second mortgage with no monthly payment, and it is not forgivable. You repay the full amount when you sell, refinance or stop living in the home as your primary residence. The first mortgage is repaid monthly like any 30-year fixed loan. Georgia Dream assistance is never a grant, including PEN, Choice, Peach Plus and Peach Advantage.
What is the maximum income for the GA Dream program?+
In Cobb, Cherokee and Paulding counties the July 2026 limit for Georgia Dream is $137,555 for a household of one or two and $158,188 for three or more. Peach Plus allows $206,333 and $237,282, and Peach Advantage allows up to 150% of area median income. Everyone in the household counts toward the limit, with some exclusions such as students under 18.
Is the Georgia Dream program worth it?+
It tends to suit a buyer short on cash who plans to stay several years: $10,000 to $12,500 at 0% with no payment, and a posted 6.375% first mortgage rate on October 1, 2026 against Freddie Mac's 7.28% national average that week. It is less useful if you expect to refinance or sell soon, since the assistance comes due then, or if your savings exceed the asset cap.
What is the minimum credit score required to qualify for the Georgia Dream loan program?+
DCA requires a minimum middle credit score of 640 for Georgia Dream, Peach Plus, Peach Advantage and Peach Select VA, or 660 for a manufactured home on Peach Advantage. If your score is below 640, DCA's Ready, Set, Go program offers online and one-on-one counseling for $50 to help you qualify later.
How long does a Georgia Dream loan take to close?+
DCA says many purchases close in about 30 to 45 days, depending on your file, the lender, the appraisal and title work. georgia.gov estimates about 60 days from application to closing. DCA's own compliance review takes at least 10 business days after the lender submits the file, and the rate lock generally lasts 75 days.
Can I use Georgia Dream with an FHA loan?+
Yes. The Georgia Dream first mortgage can be FHA, USDA, VA or conventional uninsured, all at DCA's posted rate. FHA is a common pairing because the $10,000 or $12,500 assistance covers most of FHA's 3.5% minimum down payment. You still need at least $1,000 of your own money or documented gift funds.
Is Georgia Dream a grant?+
No. Georgia Dream down payment assistance is a 0% interest second mortgage with no monthly payment, and DCA states it is non-forgivable. You repay it in full when you sell, refinance or stop living in the home. Some third-party sites describe it as a grant or as forgivable; DCA's own pages do not. In Cobb, the true grant is the county's separate My Home program.
Can I use Georgia Dream if I owned a home before?+
Yes, if you have not owned a principal residence in the 36 months before closing, or if you buy in a targeted county or census tract, where the first-time rule is waived. You cannot own any other real estate when the loan closes. Peach Select VA is open to first-time and repeat buyers.
Sources
- Georgia DCA: Georgia Dream Homeownership Program brochure (v. 2026-7-8)
- Georgia DCA: Georgia Dream (product page)
- Georgia DCA: Georgia Dream Mortgage Products
- Georgia DCA: Georgia Dream Loan Options
- Georgia DCA: Georgia Dream Loan Program FAQs
- Georgia DCA: First-Time Home Buyer FAQ
- Georgia DCA: Georgia Dream Lender FAQs
- Georgia DCA: Georgia Dream current interest rates
- Georgia DCA: Participating Lender List
- Georgia DCA: Steps to Obtain Homeownership with Georgia Dream Mortgage Products
- Georgia DCA: Peach Select VA Loan Program
- georgia.gov: Apply for the Georgia Dream Homeownership Program
- Zillow Research: Zillow Home Value Index (Acworth, August 2026)
- Freddie Mac: Primary Mortgage Market Survey (week of October 1, 2026)
Lawrence Jackson
I am a Realtor® with Atlanta Communities and part of Team Jackson Sells Atlanta. I specialize in Acworth, Kennesaw, Marietta and Woodstock and serve all of Cobb County and metro Atlanta. You work directly with me at every step, from your first question to the closing table.
Realtor®, Atlanta Communities. General information, not legal, tax or lending advice.
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