We're comparing two programs that we work with frequently:

 Welcome Home! Program

&

HomeStretch Program

 

Both programs are similar in what it takes to Qualify for the Down Payment Assistance but there are differences in how they operate.

Do you Meet Initial Qualifiers?

A few Questions First ...

Requirements for BOTH programs...

Welcome Home! Program

Visit Gwinnett Housing website

Receive $14,975 in Down Payment Assistance funds.

Lien for amount is placed against Deed for 5 years.
No payments are made. There is no Interest. Completely forgiven at 5 years.

For use on ONLY previously acquired and renovated homes offered directly by Gwinnett Housing Corp.
When these homes become available, they go VERY quickly.  It is Paramount to submit Offers on these home correctly the FIRST time.

Lending must be Conventional, FHA or VA.

Funds are used in this order:

  1. Lender required Down Payment
  2. Closing Costs
  3. Other fees (HOA fees, Intangible taxes, Pre-paid items)
  4. Any additional Funds left over (if any) go toward Principal Reduction.

NO Cash Out at Closing

The Funds for your DPA are approved FIRST prior to awarding you a Signed Contract to Purchase Home.

HomeStretch of Gwinnett County


(Visit Website for HomeStretch)

Receive $7500 in Down Payment Assistance funds.

Lien for amount is placed against Deed for 5 years.
No payments are made. There is no Interest. Completely forgiven at 5 years.

May use on Existing home purchase of up to $161,500.00, OR
New Construction home purchase of up to $199,500.00.

YOU CHOOSE THE HOME TO PURCHASE.

Can be FHA, VA, Conventional, Approved Short Sale or HUD home that DOESN'T require a Repair escrow.

Funds are used in this order:

  1. Lender required Down Payment
  2. Closing Costs
  3. Other fees (HOA fees, Intangible taxes, Pre-paid items)
  4. Any additional Funds left over (if any) go toward Principal Reduction.

NO Cash Out at Closing

Application for Program submitted WITH your Signed Contract.

An Inspection of the property will be completed in addition to insure home meets Program requirements.