ARE YOU ELIGIBLE?

ELIGIBILITY CRITERIA

There is no first-time homebuyer requirement in this program.  
You must be qualified for a mortgage with an approved Cobb County DPA Program Lender.
You must meet income and loan amount limits.  
You must meet minimum credit score requirements and maximum debt to income (DTI) ratios.
The home must serve as your principal residence (this cannot be an investment property).
You must occupy the home within 60 days of closing.

FIRST MORTGAGE

Qualified buyers will receive a 30-year fixed rate first mortgage from a participating lender.  Eligible loan products include FHA, VA and Freddie Mac HFA Advantage conventional.

DOWN PAYMENT ASSISTANCE

Assistance is in the form of a non-repayable Grant.  The Grant may be in an amount of 0%, 1% or 2% of the first mortgage Note amount.  Assistance may be used for down payment and closing cost assistance.   

HOMEBUYER EDUCATION

A first-time buyer using the Freddie Mac HFA Advantage conventional loan will be required to attend the FREE Freddie Mac Credit Smart Homebuyer Education course, provided on-demand online.  The course may also be conducted by a HUD-approved counseling agency including online HUD-approved non-profits using eHomeAmerica.  Homebuyer education is not required for FHA and VA loans, but is highly recommended.

ELIGIBLE PROPERTY

New or existing residential, one-four units, detached or attached, condos, townhomes .  Homes are considered new if never previously occupied. Manufactured homes, mobile, recreational, seasonal or other types of vacation or non-permanent homes are not permitted. Land may not exceed the size required to maintain basic livability. Properties purchased in the program must be residential units.

MINIMUM CREDIT SCORE and MAXIMUM DEBT TO INCOME RATIO 

FHA and VA borrowers must have a 660 minimum FICO.
Freddie Mac borrower must have a 640 minimum FICO.
The maximum debt to income ratio for borrowers with a 640-679 FICO is 45%.
The maximum debt to income ratio for borrowers with a 680+ FICO is 50%.

MAXIMUM INCOME LIMIT

Qualifying income in this program includes ONLY the 1003 income used to qualify borrower(s) for the loan. Income for buyers may not exceed $149,240. For borrowers using the Freddie Mac HFA Advantage loan product, the income may not exceed $84,880.

MAXIMUM LOAN AMOUNT 

$498,257 for FHA loans
$766,050 for VA and Freddie Mac HFA Advantage loans

HOW DO I APPLY FOR THE PROGRAM?

If you determine you qualify for the Cobb County My Home DPA Program, your next step will be to contact an active participating loan officer listed below.   The lender will qualify you for a mortgage loan and then the program.

Guild Mortgage Company, LLC
Amanda Lehr-Dempsey  314-706-0274
NMLS# 1180705

Southeast Mortgage
Wayne Owens  404-474-8308
NMLS# 305347

Vanderbilt Mortgage and Finance, Inc.
Aubrey Wilcox 678-701-8899
NMLS# 1680332














PARTICIPATING LENDING INSTITUTIONS

Affinity Home Lending, LLC
Ameris Bank
Bank of England
BankSouth Mortgage Company, LLC
Bayshore Mortgage Funding, LLC
Capital City Home Loans fka Brand Mortgage Group, LLC
Contour Mortgage Corporation Direct Lenders, LLC
Envoy Mortgage Everett Financial, Inc. dba Supreme Lending
First Continental Mortgage, Ltd First Continental Mortgage, Ltd (JV – KFH Mortgage, LLC)
First Home Bank
Guaranteed Rate, Inc.
Guaranteed Rate, Inc. dba Certainty Home Loans, LLC
Guaranteed Rate Affinity, LLC
Guild Mortgage Company
Homeowners Financial Group USA, LLC
Homestar Financial Corporation
Loan Simple, Inc.
LoanDepot
Lower, LLC
Movement Mortgage, LLC
New American Funding, LLC
NewRez, LLC (Caliber)
NewRez, JV Shelter Lending
NewRez, JV Shelter Mortgage
NEXA Mortgage, LLC dba AXEN Mortgage
Novus Home Mortgage a division of Ixonia Bank
On Q Financial, Inc.
Onward Home Mortgage, LLC (JV of NewRez)
Open Mortgage, LLC
Panorama Mortgage Group, LLC dba Alterra Home Loans
Panorama Mortgage Group, LLC dba Legacy Home Loans
Panorama Mortgage Group, LLC dba InQlusion Mortgage Capital
Panorama Mortgage Group, LLC dba Inspiro Financial
PrimeLending, A PlainsCapital Company
Prosperity Home Mortgage, LLC
Sanctuary Home mortgage, LLC JV of Shelter Home Mortgage Company LLC
Shelter Lending Services, LLC
SecurityNational Mortgage Company
Shelter Home Mortgage, LLC JV of Shelter Lending Services, LLC
Southeast Mortgage of Georgia, Inc.
Southeast Mortgage
SouthState Bank
Stockton Mortgage Corporation
Success Mortgage Partners, Inc.
Success Mortgage Partners, Inc. dba CLG The Mortgage Firm, Inc.
US Mortgage Corporation
Vanderbilt Mortgage & Finance, Inc. dba Silverton Mortgage
Waterstone Mortgage Corporation 

CERTIFIED REALTOR PARTNERS

Click on this link to view a list of Realtors who've attended the Cobb County My DPA Program certification course.

ADDITIONAL $10,000 GRANT AVAILABLE TO
COBB COUNTY GOVERNMENT FULL TIME EMPLOYEES

WHO QUALIFIES FOR THE ADDITIONAL $10,000?

Cobb County Government full time employees, employed for at least 12 consecutive months prior to mortgage loan closing, may receive an additional $10,000 Grant to be used as down payment assistance.   This is in ADDITION to the Cobb County MyHomeDPA Program grant assistance.  A buyer must use the Cobb County MyHomeDPA Program in order to receive the additional $10,000.

The Additional $10,000 Down Payment Assistance (DPA) grant only applies to employees of the Cobb County Government (Governing Entity: Cobb County Board of Commissioners) and is not at this time available to employees of other Cobb County government entities such as Cobb County School District (Governing Entity: Cobb County Board of Education) or employees of any City in Cobb County (Governing Entity: City Mayor and Council or Mayor and Aldermen) or to employees of Marietta School System (Governing Entity: Marietta Board of Education).

I QUALIFY AS A COBB COUNTY GOVERNMENT FULL TIME EMPLOYEE - HOW DO I RECEIVE THE ADDITIONAL $10,000?

1) A qualified employee will visit this web page, complete and submit the online Request for Verification of Employment (VOE).
2)  A Cobb County Human Resources representative will complete the form with the Hire Date, electronically sign and return to the borrower.
3) The borrower will take the completed form received from Cobb County Human Resources to a participating lender so the lender may qualify the borrower for the Program.

ADDITIONAL $10,000 GRANT
($15,000 TO PUBLIC SAFETY EMPLOYEES)
AVAILABLE TO CITY OF MARIETTA
FULL TIME EMPLOYEES

WHO QUALIFIES FOR THE ADDITIONAL ASSISTANCE?

City of Marietta full time employees, employed for at least 12 consecutive months prior to mortgage loan closing, may receive an additional $10,000 Grant ($15,000 to Public Safety employees) to be used as down payment assistance. This is in ADDITION to the Cobb County MyHomeDPA Program grant assistance. A buyer must use the Cobb County MyHomeDPA Program in order to receive the additional assistance.

$10,000 – Available for City of Marietta employees, Board of Lights & Water employees, and Marietta City School System employees
$15,000 – Available for City of Marietta Public Safety employees

I QUALIFY AS A CITY OF MARIETTA FULL TIME EMPLOYEE - HOW DO I RECEIVE THE ADDITIONAL ASSISTANCE?

1)  The City of Marietta employee (not City School System employees) will visit this web page, print and complete the Employee portion of the Request for Verification of Employment (VOE).
2)  The City of Marietta School System Employees ONLY will visit this web page, print and complete the Employee portion of the Request for Verification of Employment (VOE).
3)  The employee will visit this web page, print and complete the Request for Verification of Address. The employee must email the Request for Verification of Address to the community development division representative who will confirm the address of the home the employee would like to purchase is located in the City of Marietta limits.