Invest Atlanta Down Payment Assistance: How to Get Help Buying a Home in Atlanta

Buying a home in Atlanta can feel out of reach when you look at prices and then look at your savings. Invest Atlanta’s down payment assistance programs are designed to close that gap and help more Atlantans become homeowners, especially first-time buyers and moderate-income families.

This guide walks you through how these programs work, who qualifies, how much help you can get, and what to expect if you’re buying in the City of Atlanta.

What Is Invest Atlanta and How Does Down Payment Assistance Work?

Invest Atlanta is the City of Atlanta’s official economic development authority. One of its biggest roles for residents is offering homeownership and down payment assistance programs within the Atlanta city limits.

In general, Invest Atlanta’s down payment assistance:

• Is only for homes inside the City of Atlanta (not all of metro Atlanta)
• Helps with down payment, closing costs, or both
• Is usually structured as a second mortgage, often 0% interest and forgivable after you live in the home for a set number of years
• Must be paired with a primary mortgage from an approved lender

You don’t get cash directly. Instead, Invest Atlanta works with your lender so your assistance shows up on the closing documents and lowers the amount you need to bring to the closing table.

Basic Eligibility: Do You Qualify?

While each program has its own rules, most Invest Atlanta down payment assistance options share some core requirements.

General Requirements

You typically must:

• Buy within the City of Atlanta
  The property must be inside Atlanta city limits, not just have an “Atlanta” mailing address. Some suburbs and unincorporated areas use “Atlanta” in the address but don’t qualify.

• Use the home as your primary residence
  No second homes or investment properties. You must live in the home.

• Meet income limits
  Many programs are aimed at low- to moderate-income households, based on area median income (AMI). Limits vary by program and household size.

• Complete a certified homebuyer education course
  Typically an 8-hour HUD-approved class, plus sometimes one-on-one counseling.

• Use an approved lender
  You can’t use just any bank or mortgage broker. Invest Atlanta has a list of participating lenders trained on these programs.

• Meet credit and underwriting standards
  Invest Atlanta sets some guidelines, but your lender’s requirements usually control credit score, debt ratios, and loan approval.

Key Invest Atlanta Down Payment Assistance Programs

Program names and exact amounts can change over time, but most Invest Atlanta offerings follow a similar pattern. The table below gives a simple snapshot of what you’re likely to see when researching options.

Quick Comparison: Invest Atlanta Homebuyer Assistance (Typical Patterns)

Specific program names (for example, for first-time homebuyers, workforce buyers, or neighborhood incentives) can change as funding cycles and priorities shift, but expect to see:

• A baseline assistance option that works in many parts of the city
• Enhanced incentives if you buy in certain neighborhoods
• Variations in income limits, maximum purchase price, and occupancy time

First-Time Homebuyers vs. Repeat Buyers

Many Invest Atlanta programs strongly favor first-time homebuyers, but not all require that you’ve never owned before.

You may be considered a “first-time homebuyer” if:

• You have not owned a home in the last three years, even if you owned one longer ago, or
• You are recently divorced and no longer on title or mortgage of a previous home

If you already own a home, you might still qualify for some programs, especially neighborhood or workforce-focused ones, but you usually must:

• Sell your current residence before closing, and
• Plan to occupy the new home as your primary residence

Always check the specific program’s first-time vs. repeat buyer rules before you get too far into the process.

What Types of Homes Qualify in Atlanta?

Most Invest Atlanta down payment assistance programs are geared toward standard owner-occupied housing. Generally eligible properties include:

• Single-family homes
• Townhomes
• Condominiums (must meet lender/association requirements)
• Some duplexes or small multifamily properties, if you live in one unit (varies by program and lender)

Common requirements:

• The home must pass lender-required and program-required inspections/appraisals
• The purchase price must be under a program-specific maximum
• The property can’t be strictly used as a rental, Airbnb, or flip

Certain programs may prefer or require:

• Newly built homes
• Rehabilitated or previously vacant properties
• Homes in specific Atlanta neighborhoods or zones

How the Money Works: Loans, Forgiveness, and Occupancy

Invest Atlanta down payment assistance is usually structured as a second mortgage, but with very favorable terms.

Typical Features

• 0% interest rate in many programs
• No monthly payments required on the assistance portion
• Forgiveness over time if you stay in the home as your primary residence

It’s common for the assistance amount to be forgiven after a certain number of years, such as:

• Fully forgiven after you live in the home for a set period (for example, 5–10 years), or
• Forgiven gradually every year you stay in the home

If you sell, move out, or refinance before the forgiveness period ends, you may have to repay some or all of the assistance at closing, depending on the program’s rules.

Always ask:

• How long do I have to live in the home for full forgiveness?
• What happens if I need to sell or refinance early?

Step-by-Step: How to Use Invest Atlanta Down Payment Assistance

If you’re ready to buy in Atlanta and want to tap into Invest Atlanta help, this is the general path many buyers follow.

1. Confirm You’re Buying in the City of Atlanta

Before you get excited about a particular house:

• Check that the property is within the official City of Atlanta boundaries, not just metro Atlanta.
• Your agent or lender can help verify this, or you can use city property search tools to confirm jurisdiction.

2. Take a Homebuyer Education Course

Invest Atlanta usually requires:

• A HUD-approved homebuyer education class (often 8 hours, in person or virtual)
• Sometimes a one-on-one counseling session to review your budget and readiness

You’ll receive a certificate when you finish. Keep this—it’s part of your loan application package.

3. Connect with an Approved Lender

Next, contact an Invest Atlanta participating lender. They:

• Pre-qualify you for a primary mortgage
• Review your income, credit, debts, and savings
• Help match you with Invest Atlanta programs you may qualify for
• Prepare your application for both the mortgage and the assistance

Ask upfront:

• “Are you an Invest Atlanta approved lender?”
• “Which Invest Atlanta down payment assistance programs do you work with most often?”

4. Talk With a Real Estate Agent Who Knows the Programs

You don’t have to use a specific agent, but many buyers find it helpful to work with a Realtor experienced with Invest Atlanta closings, especially when:

• Shopping in Old Fourth Ward, West End, East Atlanta, Southwest Atlanta, or other targeted areas
• Navigating deadlines tied to inspection, appraisal, and program approvals

An experienced agent can help you:

• Identify properties likely to qualify for assistance
• Avoid homes that won’t pass minimum property standards
• Coordinate timing with your lender and Invest Atlanta

5. Shop for a Home Within Program Limits

While home-shopping, keep in mind:

• Maximum purchase price limits vary by program
• Some neighborhoods may open extra options or higher assistance amounts
• You must still qualify for the monthly mortgage payment under lender guidelines

Your lender can give you a comfortable price range including the impact of your anticipated assistance.

6. Make an Offer and Start the Approval Process

Once your offer is accepted:

• Your lender orders appraisal and underwriting for the primary loan
• They submit required documents to Invest Atlanta for the assistance approval
• You provide income documents, bank statements, and your homebuyer education certificate

Respond quickly to any requests for:

• Updated pay stubs
• Bank statements
• Corrected or missing forms

This keeps everything on track for your target closing date.

7. Close on Your Home

At closing:

• The primary mortgage and Invest Atlanta assistance are finalized together
• The assistance appears on your closing disclosure as a credit toward your down payment and/or closing costs
• You sign documents outlining forgiveness and occupancy requirements

After that, you receive your keys and move in as your primary residence, following the program’s occupancy rules.

Where in Atlanta Can You Use Down Payment Assistance?

You can use Invest Atlanta programs in any qualifying neighborhood within city limits, including but not limited to:

• Downtown & Midtown
• Old Fourth Ward, Inman Park, Edgewood, Reynoldstown
• Westside areas like West End, Westview, and neighborhoods near the BeltLine
• South and Southwest Atlanta neighborhoods
• Buckhead-area communities within city boundaries
• East Atlanta, Kirkwood, Lake Claire, and more

The key is not the mailing address alone, but whether the property sits inside the City of Atlanta jurisdiction. This matters especially in edge areas like:

• Sandy Springs, Brookhaven, Decatur, East Point – these are separate cities and typically do not qualify for Invest Atlanta assistance, even though they’re part of metro Atlanta.

How Much Assistance Can You Expect?

Exact dollar amounts change as funding and policies evolve, but Invest Atlanta programs commonly offer:

• A flat assistance amount (for example, a set number of thousands of dollars), or
• A percentage of the purchase price, up to a cap

These funds can usually be used for:

• Down payment
• Closing costs (lender fees, title fees, prepaid taxes and insurance)
• Sometimes escrows and other closing-related expenses

Your lender will explain how your specific assistance package is structured and how it will appear on your final numbers.

Pros and Tradeoffs of Using Invest Atlanta Assistance

Benefits

• Lower upfront costs
  You bring less cash to closing, which can make homeownership possible sooner.

• Kept within your budget
  Income and price limits encourage you to stay in a manageable price range.

• Support for Atlantans, not just investors
  Programs are structured to keep local residents in the city and help stabilize neighborhoods.

Things to Consider

• Extra paperwork and steps
  There are more forms, approvals, and timelines than a standard mortgage alone.

• Occupancy and resale rules
  You usually must live in the home for a certain number of years and may face repayment if you move or sell early.

• Limited program funding
  Some programs operate on fixed budgets. Once funding is used up, you may have to wait for a new funding cycle or consider a different program.

• Stricter property standards
  The home must clear both lender and program requirements, which can be more demanding for older houses.

Tips for Atlanta Buyers Using Down Payment Assistance

• Start your education early
  Complete the homebuyer class before you’re under contract if possible. It speeds everything up.

• Ask every lender about Invest Atlanta
  Not all lenders participate. Make sure you’re talking to one who does.

• Stay realistic about your budget
  Assistance decreases your upfront cost, but you still need a comfortable monthly payment for mortgage, taxes, insurance, and HOA if applicable.

• Be flexible on neighborhoods
  You may find better assistance or more inventory in specific Atlanta areas you hadn’t considered yet.

• Keep your finances stable during the process
  Avoid new debts or major purchases before closing, as they can affect loan approval.

How to Contact Invest Atlanta for Down Payment Assistance

If you live in Atlanta or plan to buy here and want to explore these programs directly, you can reach out to Invest Atlanta.

Invest Atlanta – Main Office
133 Peachtree Street NE, Suite 2900
Atlanta, GA 30303
Phone: 404-880-4100

When you contact them, you can:

• Ask about current down payment assistance programs
• Request a list of approved lenders
• Get information about income limits, price caps, and neighborhoods that may receive extra support
• Confirm whether a specific address is within the City of Atlanta for program purposes

From there, pairing a participating lender, a knowledgeable real estate agent, and these Invest Atlanta resources can give you a clear path from renter to homeowner within the city.