ATLANTA – The Federal Home Loan Bank of Atlanta has provided CDC (Center for Disease Control) FCU with a $1 million grant to fund down payment assistance for low-income homebuyers.
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The credit union will use the money to distribute as much as $10,000 in awards for eligible low-income borrowers. The program will be run through the credit union’s Briarwood Financial Services, LLC CUSO. Participants will be required to contribute at least $500 towards the down payment and occupy the purchased home as a primary residence for at least five years.
The funding will be available to Georgia residents who do not exceed 80% of the Housing and Urban Development median income, which is $55,400 for individuals, and more for families.
