Programs help break barriers to home ownership for eligible Atlanta residents

For some Atlanta families, the biggest barrier to buying a home may not be finding one, but finding the money to afford it.

Atlanta Housing and House ATL are highlighting programs that can help eligible buyers with tens of thousands of dollars in down payment assistance.

House ATL hosts monthly events at different for-sale properties around Atlanta to educate buyers about down payment assistance and financing options.

August's event was at Park Vue in West Midtown.

Atlanta Housing offers up to $20,000 in standard down payment assistance.

That increases to $25,000 for some essential workers, military members, and veterans.

For eligible Atlanta Housing Choice Voucher participants, assistance can reach up to $60,000.

"Sometimes people don't understand that there is down payment assistance to get them over the hump to get into homes," said Eboni Killian with House ATL.

Realtor Brandi Phillips attended Friday's event to scout the properties for her clients. She said programs like these can open the housing market to more buyers.

"They layer down payment assistance and assist with negotiating or helping out with closing costs," said Phillips.

Killian said that can change buyers' calculations.

"If they are qualified for $300,000 but the price point is $360,000, but there's $60,000 worth of down payment assistance that they can use. The MLS listing will list it as $360, and a realtor may not search and choose that home because their buyer is only qualified for $300,000. But in actuality, because there's $60,000 of down payment assistance available, this is a home they can choose," she said.

The assistance can be paired with other down payment programs, potentially helping buyers bridge an even bigger gap.

For Phillips, it means showing clients options they may not have realized were possible.

"I love how things like this are available for the community, and it's a nice area, nice house, and brand new build," said Phillips.

A brand new home that, with the right help, may not be far out of reach.

The program requirements are simple.

Potential buyers need to be first-time homeowners and primarily live in the house they are buying.