Complete the Georgia Mortgage Assistance Refinance Loan Process?

Required applicants should submit an application through the Georgia Mortgage Assistance Portal.

All homeowners and the spouse residing in the home with the homeowner (even if not a current homeowner) will be required to be homeowners on the new loan, and must cooperate in the application process, and if approved, attend an in-person closing held by an assigned attorney firm. 

While a credit report is pulled on the homeowner(s) and spouse, the credit score is not used. However, bankruptcy and title issues could delay or prevent the refinance. It is the responsibility of the homeowner to discussed these items with the counselor prior to the loan application. 

The homeowner(s) and spouse will meet with an assigned HUD Counseling Agency. The Georgia Mortgage Assistance Refinance is a full document loan for which the homeowner must provide the required documents. If basic eligibility is confirmed, the counselor will take a loan application, which must be approved during the underwriting process to move forward. The counselor may also provide alternative options for homeowners who are not eligible for the Georgia Mortgage Assistance Refinance Loan Program.

Failure to timely complete counseling and the refinance process (if eligible) may prevent further consideration. 

• The property must have a clear title in order to close.
  • The title will be pulled as part of the loan process. Any liens other than the subject property’s mortgage liens may cause a title issue which could prevent closing and result in a denial. The homeowner is solely responsible for any costs and processes required to clear issues on the title to allow closing. 
• The counseling, application origination, title, and attorney closing costs will be borne by the Georgia Mortgage Assistance Refinance Loan Program. 
  • Optional closing costs, such as Owner’s Title Insurance, are not covered. This must be requested and handled by the homeowner directly with the attorney.
• The Georgia Mortgage Assistance Refinance is a loan, not a grant. Failure to make monthly payments could result in foreclosure.