Savannah DreamMaker Home Purchase Assistance Program

Administered by: City of Savannah Housing & Neighborhood Services Department · City · Deferred Loan

Funding status: Active

How much assistance

Up to $30,000 (up to $50,000 for city-partnered housing developments) (Deferred Loan)

Deferred payment, 0% interest, 30-year loan. If the home is sold within 10 years, the borrower must share equity and repay the assistance. Repayment also required upon transfer of title, refinance, or death of borrower.

Eligibility

  • Income limits: Income limits tied to funding stream (generally at or below 80% AMI)
  • First-time buyer required: Yes — Must not have owned a home in the previous 3 years.
  • Geographic restrictions: Must purchase within Savannah city limits. DreamMaker 1 (up to $5,000) for homes outside Target Neighborhoods. DreamMaker 2 (up to $7,500) for homes within CDBG neighborhoods. Higher tiers available for qualifying properties.
  • Homebuyer education required: Yes

How to Apply for Savannah DreamMaker Home Purchase Assistance Program

Step 1: Contact the City of Savannah Housing & Neighborhood Services Department (HNSD) at 912-651-6926. Complete homebuyer education through a HUD-approved counseling agency. Secure financing from an approved lender. Hire a home inspection company to identify repairs. The borrower must contribute $1,000 toward the purchase. Most repairs identified during inspection must be addressed by the seller before closing.

Visit program website

Notes

Three tiers of assistance: DreamMaker 1 (up to $5,000 outside Target Neighborhoods), DreamMaker 2 (up to $7,500 in CDBG neighborhoods), and higher-tier DreamMaker (up to $30,000 or $50,000 for city-partnered developments). Condos do not qualify.

Cities Where This Program Is Available