As Johna Jamison opens the door to welcome us into her home, we think she must have taken us to the wrong loft. Surely, this is the model unit. Johna’s beautifully appointed home in the Shoe Factory Lofts is an extension of her profession as an interior designer – and she won’t hesitate to tell you it’s all hers.
Johna bought her one bedroom, 1.5 bath home last year with downpayment assistance from the Atlanta BeltLine Housing Initiative Program. Her journey, like many homebuyers, was tumultuous. After three failed offers on other homes, she heard about the downpayment assistance program. After speaking with her lender and real estate agent, she took a deep breath and hit the market again, armed with a new financial tool.
The moment she set foot in the loft and soaked in the sunlight streaming in from the two-story windows, Johna knew she had arrived home. From that point, it was simply a matter of following all of the steps to complete her application and loan package to get to the closing table.
I came over here immediately and invited everyone and opened up a bottle of champagne and [thought] this really is mine. – Johna Jamison
The Housing Initiative Program (HIP) is a strategic partnership between Atlanta BeltLine, Inc. and Federal Home Loan Bank of Atlanta. The HIP offers up to $3 million in grant funding for the purchase of new homes or the rehabilitation of existing homes along the Atlanta BeltLine corridor. Funding is available exclusively to FHLBank Atlanta shareholder financial institutions and their eligible customers earning 80 percent or less than the area median income.
While the program quietly opened in mid-April for homebuyers, it officially kicked off with an event for lenders and real estate agents on May 12, 2016. The full press release is available here: Atlanta BeltLine, Inc. and Federal Home Loan Bank of Atlanta Partner for 2016 Downpayment Assistance Program.
Are you interested in downpayment assistance to purchase a home along the Atlanta BeltLine? Homebuyers can qualify for assistance of 20 percent of the purchase price of a home up to $45,000.
Eligible properties include single-family homes within the Atlanta BeltLine Planning Area (one-half mile around the Atlanta BeltLine) and must serve as the primary residence. Borrowers must contribute at least $1,000 toward the purchase of a home. Interested homebuyers should contact the Atlanta BeltLine at www.AtlantaBeltLineHomes.com to begin an application.
As Johna said, “I almost didn’t believe it was true until it happened.” We look forward to telling more stories like Johna’s and the Hodges family – bringing the dream of homeownership to life!