Down Payment Assistance Program

Let us help you open the door to homeownership!

Your Path To Homeownership Starts Here

Taking that first step into homeownership is exciting, but it can also feel a bit overwhelming. We’re here to make it easier! Our Down Payment Assistance Program can provide you with up to $80,000 to help you purchase your home.

Here’s how we can help homebuyers:

Less to save upfront: We know saving for a down payment can be tough. We can help with your down payment, making it easier to get started.
Boost your buying power: With 20% down and up to $80,000 in assistance, you’ll have more options to find the perfect starter home, make a stronger offer, and potentially reduce your overall borrowing costs.
Own your home sooner: We’re here to help you achieve your goals faster.
Local support, local lending: This program is designed specifically for homebuyers living in Fannin, Union, and Gilmer counties in Georgia, and Polk County, Tennessee.

Program Details

The assistance can cover:

Down payment

Things to keep in mind:

The funds can’t be used for repairs
You won’t be able to take cash out at closing

Things you’ll need to qualify:

Credit score above 580
Debt-to-income ratio (DTI) 50% or less
CBFCU checking account with direct deposit
Have no other homes in your name within the last 3 years
Have annualized income less than or equal to 120% of HUD AMI1, based on household size for the county in which the DPA housing is located.

First-Time Homebuyers: You’ll need to complete a homebuyer education program at least 15 days before closing

Important notes:

You’ll need to live in the home you’re buying
The loan can’t be more than $400,000
The home must be in qualifying census tracts in the following counties:
- Georgia: Fannin, Union, and Gilmer counties
- Tennessee: Polk County
The purchase price must be within reasonable market value
- The property must not be acquired as a gift or substantially discounted transfer from a relative, employer, or other entity
- Properties sold at a discount exceeding 80% of appraised market value will not qualify unless justified by structural conditions, required renovations, or other documented factors