Georgia Mortgage Assistance Refinance Loan Program

The Georgia Mortgage Assistance Refinance Loan Program is a limited funded loan program administered by the Georgia Department of Community Affairs. Loans will be funded through the Georgia Housing Finance Authority Affordable Housing Inc. and serviced by State Home Mortgage.  

The refinance loan program consolidates eligible mortgage loans into one monthly payment. Escrow is required during this process.

Please note, Home Equity Line of Credit (HELOC) loans are not included in the the refinance program and will remain active with payments due.

Specifications

• Conventional loan
• Fixed interest rate of three percent
• Term of up to 40 years, based on affordability
• No minimum credit score required

Eligibility Requirements*

• The home was purchased on or before May 11, 2023
• The home is titled only in the names of the homeowner(s) living in the home
• The homeowner and spouse do not own any additional residential property
• The current total mortgage loan balance is $350,000 or less
• The mortgage loan met the conforming amount at the time of purchase or most recent refinance.
• The mortgage loan(s) are owned and/or serviced by a bank, credit union, or NMLS licensed or registered Non-Profit Lender
• The home does not have a Home Equity Line of Credit (HELOC) loan, unless the HELOC is in first lien position
• The current household income does not exceed 80 percent of Area Median Income for the county of residence
• The borrower’s income will support the new mortgage payments at an affordable payment ratio

* Additional underwriting criteria apply.