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State Representative Carl Gilliard (D-Savannah), chair of the Georgia Legislative Black Caucus, has unveiled the Georgia Dream Peach Plus Loan Program, designed to aid borrowers who do not qualify for the standard Georgia Dream Loan Program but are eligible for Federal Housing Administration loans.

Gilliard expressed that the program signifies a significant advancement in providing inclusive solutions for homebuyers who have faced challenges in the homebuying process. He emphasized, "Georgia Dream Peach Plus represents a significant evolution of the Georgia Housing Finance Authority’s commitment to providing inclusive solutions for homebuyers who have faced obstacles in the homebuying process in the past."

Highlighting the program's potential impact, Gilliard stated, “This initiative stands ready to redefine access to affordable homeownership opportunities statewide, catering to a broader spectrum of homebuyers pursuing the American dream." He also praised the existing partnership with Georgia Dream, noting, “Over the past seven years, our partnership with Georgia Dream has fulfilled the homeownership aspirations of more than 250 Georgians."

The Georgia Dream Peach Plus Loan Program offers various key features, including access to financing through a 30-year fixed FHA loan at competitive market rates, increased income limits, higher purchase price allowance, and down payment assistance options tailored to different borrower profiles.

To qualify for the program, borrowers must meet specific criteria such as a minimum credit score of 640, Debt-To-Income (DTI) requirements, household income not exceeding 150 percent Average Median Income, and completion of HUD-approved Homebuyer Education.

The initiative aims to expand homeownership opportunities and provide support for more Georgians in achieving their dream of owning a home. More information on the Georgia Dream Peach Plus Loan Program can be found on the official website.