October 4, 2010
FOR IMMEDIATE RELEASE
Contact: Sonya Moste, Director of Marketing and Public Relations
October is “Fall into Homeownership” Month
ATLANTA – The Atlanta Development Authority (ADA) is partnering with the Atlanta Housing Authority (AHA) and HomeFree-USA during the month of October for “Fall into Homeownership” Month. Buyers who meet all eligibility requirements and obtain lender loan approval may qualify to receive down payment assistance from ADA and AHA. ADA has $25 million in first-mortgage capital in addition to several programs designed to help assist in-town buyers with down payment and closing costs.
Based on the geographic location of the property to be purchased, the ADA downpayment assistance can be used in conjunction with the AHA downpayment assistance. By combining these programs, buyers who qualify may be eligible to receive up to $40,000 in downpayment assistance. A series of events is scheduled for the month of October that will teach interested homeowners about the downpayment assistance programs available to them and highlight the housing developments that are eligible for homeownership incentives.
While the maximum household income limit can be as high as $82,000, the average household income of a program participant is $46,600. The average sales price of a home is $157,880.
Schedule of Fall into Homeownership Month events:
Homebuyer Education Seminar hosted by HomeFree USA
Time: 8:30 a.m. – 2 p.m.
Location: 85 Peachtree Place, NW, Atlanta, GA 30309
Realtor Advantage Session
Time: 12 – 2 p.m.
Location: Atlanta Development Authority at 86 Pryor Street, Atlanta, GA 30303
Time: 10 a.m. – 3 p.m.
Location: Drew Charter School at 187 Wesley Avenue NE, Atlanta, GA 30307 Homebuyers RSVP by calling 404.614.8306
Education, Give-A-Ways, Food and Fun
October 19 and 21
Lunch & See Caravans and Open House Tours
Sign up for both of these events at the Homebuyers’ Fair.
Buyer incentives will be available.
Fall Into Homeownership Celebration
Time: 12 p.m. – 4 p.m.
RSVP by calling 404.614.8306 on or after October 17
Network with ADA, AHA, and City of Atlanta developers, lenders, realtors and homebuyer education providers.
ABOUT ATLANTA DEVELOPMENT AUTHORITY
The Atlanta Development Authority is the official economic development agency for the city of Atlanta. ADA represents intown Atlanta, which has a population of 530,000 and growing. ADA is a research-based economic development organization, focused on residential, business and investment growth in the city. ADA has provided downpayment subsidies to more than 500 homebuyers since May 2007 with the goal of helping working families live closer to their jobs and build wealth. The funds for these programs come from a variety of sources, including: the City of Atlanta’s Housing Opportunity Bonds issued in 2007 and BeltLine Tax Allocation District Bonds issued in 2008 and 2009; the U.S. Department of Housing and Urban Development; and the Vine City Trust Fund of the Urban Residential Housing Authority of the City of Atlanta, Georgia.