Cobb County Program Highlights

Cobb County, My Home DPA Program | At-A-Glance

Cobb County, My Home DPA Program | At-A-Glance

AVAILABLE PROGRAMS My Home DPA Program
ELLIGIBLE AREA Cobb County, GA
ELIGIBLE BORROWER(S) No first-time buyer requirement
RATES See Chart
DPA AVAILABLE See Chart
LOAN TYPE See Chart
INCOME LIMITS Income Limits
PURCHASE LIMITS Must include everything paid by the buyer or on the buyer’s behalf. $472,030 FHA. $726,700 VA and Freddie Mac HFA Advantage
TIMELINE REQUIREMENTS 70 days from Reservation to Loan Purchase. Underwriter Certification within 15 days of reservation.
HOMEBUYER EDUCATION Homebuyer Education
CO-SIGNORS Not permitted.
PROGRAM GUIDELINES Guidelines
PARTICIPATING LENDERS Participating Lenders

Rates & Offerings [ Business Days 10:00am – 8:00pm ET ]

Cobb County, My Home DPA Program | Rates & Offerings

Government

Cobb County My Home DPA Program


FHA, VA


  • No first-time buyer requirement
  • Must be principal residence
  • Maximum Income Limits
  • Maximum Purchase Price Limits
  • 70 calendar days from loan reservation to loan purchase (Underwriter Certification 15 calendar days)
  • 1003 Credit qualifying income
  • Assistance offered as a non-repayable GRANT
  • Assistance is a percentage of the total (include MIP) Note amount
  • Additional Grant of $10,000 available for Cobb County Government Employees
  • Additional Grant of $10,00 available for City of Marietta, Board of Lights & Water and Marietta School System employees
  • Additional Grant of $15,000 available for City of Marietta Public Safety Employees
  • Maximum DTI 45% with 640-679 FICO
  • Maximum DTI is 50% with 680 FICO
  • Minimum FICO for FHA and VA 660
  • Eligible area: Cobb County
Offering FICO DPA Lock Rate
FHA, VA 660 0% 6.625%
1% 7.125%
2% n/a
Freddie Mac HFA Advantage

Cobb County My Home DPA Program


Freddie Mac


  • No first-time buyer requirement
  • Must be principal residence
  • Maximum Income Limits (Borrower’s with income at or below 80% AMI, as determined by Freddie Mac, receive reduced mortgage insurance)
  • Maximum Purchase Price Limits
  • 70 calendar days from loan reservation to loan purchase (Underwriter Certification 15 calendar days)
  • 1003 Credit qualifying income
  • Assistance offered as a non-repayable GRANT
  • Assistance is a percentage of the total (include MIP) Note amount
  • Additional Grant of $10,000 available for Cobb County Government Employees
  • Additional Grant of $10,00 available for City of Marietta, Board of Lights & Water and Marietta School System employees
  • Additional Grant of $15,000 available for City of Marietta Public Safety Employees
  • Maximum DTI 45% with 640-679 FICO
  • Maximum DTI is 50% with 680 FICO
  • Minimum FICO for Freddie Mac 640
  • Eligible area: Cobb County
Offering FICO DPA Lock Rate
Freddie Mac <= 80% AMI 640 0% 6.750%
1% 7.250%
2% n/a
Offering FICO DPA Lock Rate
Freddie Mac OVER 80% AMI 640 0% 7.000%
1% 7.500%
2% n/a