DreamMaker Home Purchase Assistance Program

Open

City of Savannah Housing & Neighborhood Services DepartmentGAFirst-Time Homeowner

Funding: Provides up to 50,000 dollars as a 2 percent interest 30 year deferred payment loan for homes developed in partnership with the City of Savannah and up to 30,000 dollars as a 2 percent interest 30 year deferred payment loan for other eligible properties, usable toward down payment, closing costs, and gap financing.City of Savannah administered 2 percent interest 30 year deferred payment second mortgage that can be layered with a first mortgage to provide down payment, closing cost, and gap financing assistance to eligible buyers.RollingDeadline: Scope: Localstate

Updated: Dec 6, 2025

Summary

City of Savannah’s flagship DreamMaker program offers substantial, low-interest deferred loans—up to $50,000—for down payment, closing costs, and gap financing to help first-time buyers purchase homes within Savannah.

Benefits

down payment assistanceclosing cost assistancegap financing2% interestdeferred loansecond mortgagecity program

Who Can Apply

homebuyerfirst-time homebuyerlow-income homebuyerSavannah resident

Eligible Locations

Income eligible first time homebuyers purchasing a primary residence within Savannah city limits who complete approved homebuyer education, obtain a first mortgage from a participating lender, choose a property that passes required city inspection, and meet program purchase price limits and underwriting guidelines.

Eligibility

Income-eligible first-time homebuyers purchasing a primary residence within Savannah city limits; must complete approved homebuyer education, obtain a first mortgage from a participating lender, choose a property that passes required city inspection, and meet program purchase price and underwriting guidelines.

Full Description

The DreamMaker Home Purchase Assistance Program provides eligible Savannah homebuyers with a 30-year, 2% interest deferred-payment loan that can be used toward down payment, closing costs, and gap financing. Buyers purchasing homes developed in partnership with the City may receive up to $50,000 in assistance, while other qualifying properties may receive up to $30,000. Funds are layered with an affordable first mortgage, and no repayment is due until sale, transfer, or refinance of the property. Participants must complete homebuyer education, meet income and purchase-price limits, and select a home that passes a City inspection and satisfies required repairs before closing—making DreamMaker one of Georgia’s most generous local down payment assistance options. (City of Savannah)

Verification & Details

Status: Open

Source: savannahga.gov

Official source → savannahga.gov

Apply on official siteUpdated Dec 6, 2025

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