Georgia Dream Homeownership Programs

The information below is provided courtesy of the Georgia Department of Community Affairs:

What is Georgia Dream?

The Georgia Dream Homeownership Program provides first mortgage loans, down payment assistance and home buyer education to eligible home buyers. An eligible borrower must not have owned a home in the past three years, or must be purchasing a home in a targeted area. The borrower must meet income and purchase price limits, have limited assets, and must invest at least $1,000 into the purchase transaction.

2013 Mortgage Closing Costs Rise |

The average fees lenders charge consumers to close on a mortgage have increased over the past year in most states, according to Bankrate’s annual closing cost survey.

A homebuyer getting a $200,000 loan pays an average of about $2,400 in origination and third-party fees such as appraisal, according to this year’s survey. That’s a 6 percent jump compared to last year when the same fees averaged about $2,264.

Most of the increase is tied to fees paid directly to the loan originator. Excluding third-party costs, origination fees alone were up about 8.4 percent compared to last year.

Why are fees