Gwinnett County Homestretch Downpayment Program

Gwinnett County Homestretch Downpayment Program

  • up to $10,000.00 of Down-payment Assistance
  • Home must be in a Gwinnett County area
  • 8 Hour Applicant Pre-Purchase Class certificate from a HUD approved Agency
  • 3 Bureau Credit Score Report with at least one credit score of 580 or higher
  • Pre-Approval Letter from our team
  • up to $323,000.00 for previously constructed homes
  • up to $346,000.00 for new construction homes
  • Individuals that have not owned property in three years qualify as first time Applicants.
  • This assistance is provided as a 0% interest, 0 payments, five-year deferred payment loan.
  • Homeowner remains the primary resident through the 5 year maturity date of the security deed, the lien is canceled, and no payments are required.
  • Beginning on the 1st anniversary date of the security deed, the principal will be reduced 20% each year.
  • The Applicant must have less than 43% debt to income ratio based on comparison of the Applicant’s income and minimum monthly debt.
  • The Applicant must provide up to $1,000 in buyer participation towards the closing.
  • The Applicant can get no cash out at closing.
  • The Homestretch program pays the initial home inspection, if the property requires a re-inspection, then that is completed at the applicant’s expense.
  • If the home does not pass inspection, the seller or Applicant have the option to pay for repairs.

2023 Income Limits
HOUSEHOLD
SIZE

MAXIMUM INCOME LIMITS
[EFFECTIVE JUNE 2023]
1 $57,200
2 $65,350
3 $73,500
4 $81,650
5 $88,200
6 $94,750
7 $101,250
8 $107,800

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