Georgia Dream PEN Program

Welcome, from the Georgia Department of Community Affairs -- the folks who bring you the Georgia Dream Homeownership Program. In addition to Georgia Dream’s affordable home mortgage plan and down payment assistance, the program also provides special down payment assistance through its PEN program. PEN stands for protectors, educators and nurses. But in this case, nurses actually represent all healthcare workers.
These protectors, educators and healthcare workers can qualify for $7,500 in down payment assistance, combined with the Georgia Dream first mortgage loan. The next three screens will help you determine if you qualify based on the guidelines for who is a protector, who is an educator, and who is a healthcare worker.
Under the Georgia Dream PEN program, protectors are employees or active duty personnel of police departments, sheriff’s offices, corrections departments, the Georgia Department of Motor Vehicles -- and even the TSA, those folks that now protect us at our airports. We include volunteer firemen, and of course, those local, state and federal fire department employees and also those employed in the military.
All armed forces include Army, Navy, Air Force, Marine Corps and Coast Guard, as well as the Army and Air National Guard. Please consult with your lender to find out if you qualify as a Protector for additional down payment assistance with Georgia Dream.
All persons employed in the field of education also qualify for additional down payment assistance. Education employees are those of local city or county school boards recognized by the state or accredited by a state or regional accrediting association. This also includes Head Start programs, Pre-K, elementary and high school teachers, and all other employees in this field.
Private school systems that are recognized by the state and also employees of postsecondary institutions also qualify. This doesn’t just include teachers -- this means everybody -- bus drivers, counselors, secretaries, and folks who work preparing lunches for our children each day.
In the healthcare field, all healthcare employees are included -- that means if you are paid by a healthcare facility, you qualify. It’s not limited to, but includes, facilities such as hospitals, medical and dental offices, health departments, nursing homes, pharmacies, assisted living homes, Red Cross offices, home healthcare agencies, and chiropractic offices, just to name a few. If you think you may qualify, consult with your lender.
Down payment help comes in the form of a $7,500 down payment assistance loan. Remember, this is a loan. You have to repay it if you ever sell the home or refinance the home. But during the whole term of the loan, whether it is for 5 years or 30 years, there are no monthly payments and no interest. And again, you don’t have to repay it unless you sell or refinance. This is subordinate financing for the payment of closing costs, prepaid items, or the reduction of your first mortgage loan at closing.
Eligible applicants for the PEN program will meet the requirements of the Georgia Dream 1st and 2nd mortgage loan programs as well as the requirements of the loan that you are being qualified for, whether FHA, VA, USDA or conventional.
The screen in front of you now shows our Georgia Dream web page. The web address is www.gadream.com and all current information on the program can be found here. Click on “homebuyer” to locate a participating lender, review our brochure, or locate a homebuyer education provider.
Again, we’d be glad to help you with a Georgia Dream loan, and lenders across the state would also be glad to help you. To contact us at Georgia Dream, please call 404-679-4840 or 1-800-359-4663.
From the Georgia Department of Community Affairs and the Georgia Dream Homeownership Program, thanks for your interest in the PEN Program for protectors, educators and healthcare workers. And we look forward to hearing from you with questions.
We hope we can be your partner in achieving the dream of homeownership in Georgia!