In June, Invest Atlanta launched its new Intown Mortgage Assistance Program (IMAP) to make it easier for prospective buyers to purchase homes within most of Atlanta.
Through IMAP, homeowners have the opportunity to obtain a 30-year, fixed-rate FHA, VA or conventional mortgage with $10,000 to apply toward their down payment and or closing cost. And the loan is fully forgiven after the buyers live in the home for 10 years. There is no first-time homebuyer requirement.
The loans and related financial assistance can be used to purchase single-family detached homes, two-to-four-unit townhomes and condominiums located anywhere within the Atlanta city limits, except for the Vine City and English Avenue neighborhoods.
Invest Atlanta will provide more information about IMAP at Q & A sessions in the future. See the latest homeownership flyer: