ATLANTA – Invest Atlanta announced today the launch of ATL Home Renovation Advantage, an incentive for homeownership inside Atlanta’s city limits that can be used for the renovation of newly purchased homes. Layered with a 203k Renovation Loan, the program provides up to $10,000 for assistance with down payment and closing costs as long as the program requirements are met and the homebuyer purchases an eligible property.
Homebuyers interested in ATL Home Renovation Advantage must have an annual gross household income that does not exceed $68,300 for a 1 to 2 person household and $78,545 for a 3 or more person household. Eligible properties for the program include existing single-family detached homes, attached townhouses or condominiums with a maximum purchase price of $342,700. For a full list of eligibility requirements or to learn more about ATL Home Renovation Advantage, visit www.investatlanta.com.
“By offering a solution for homebuyer renovation needs, we’re able to create more diverse and affordable housing options in the City of Atlanta for current and prospective residents,” said Mayor Kasim Reed. “Programs like ATL Home Renovation Advantage build upon existing City tools that make homeownership in Atlanta attractive, and with increased intown living we’re able to build stronger, healthier and sustainable communities.”
The new program expands Invest Atlanta’s current homebuyer assistance offerings, which include HOME Atlanta 4.0, HFA PreferredTM, Atlanta Affordable Homeownership Program and the Vine City Renaissance Initiative. These incentives provide funding to eligible homebuyers for the purchase of a new or existing home in the city of Atlanta and can be layered with other programs for qualified properties.
To introduce ATL Home Renovation Advantage, Invest Atlanta and Wells Fargo will co-host a special event on Saturday, Oct. 10 from 11 a.m. to 5 p.m. at Besharat Gallery on Castleberry Hill. “The Art of Renovation” is an opportunity to meet HGTV’s Elbow Room host and expert craftsman Chip Wade, attend hourly home renovation info sessions, tour renovated historic living spaces, and speak with Wells Fargo 203k Renovation Loan specialists. The event is free and open to the public. For more information and to register, visit https://artofrenovation.eventbrite.com or call 404.614.8280.