BEST OF
10 Best Georgia Dream Mortgage Lenders of 2020
The Georgia Dream program helps you purchase a home with affordable rates and down payment assistance. See our top picks for Georgia Dream lenders.
The Georgia Department of Community Affairs makes homeownership possible for those with low or moderate incomes through its Georgia Dream program.
To apply for a Georgia Dream loan or down payment assistance program, you’ll need to work with a participating lender. But how do you know which one is right for you?
NerdWallet reviewed many of the Georgia Dream program participating lenders, identifying the best ones for a variety of borrower needs. Start your search by comparing the lenders below.
The Georgia Department of Community Affairs makes homeownership possible for those with low or moderate incomes through its Georgia Dream program.
To apply for a Georgia Dream loan or down payment assistance program, you’ll need to work with a participating lender. But how do you know which one is right for you?
NerdWallet reviewed many of the Georgia Dream program participating lenders, identifying the best ones for a variety of borrower needs. Start your search by comparing the lenders below.
Summary of Best Georgia Dream Mortgage Lenders of 2020
| Lender | NerdWallet Rating | Minimum Credit Score | Minimum Down Payment | Learn More |
|---|---|---|---|---|
Best for online experience | 620 | 3% | Read review | |
Best for online experience | 620 | 5% | at loanDepot | |
Best for FHA loan | N/A | 3.5% | Read review | |
Best for FHA loan | 550 | 3.5% | Read review | |
Best for in-person service | 620 | 3% | Read review | |
Best for in-person service | 620 | 3% | Read review | |
Best for fixer-uppers | 620 | 3% | at Fairway Independent Mortgage | |
Best for fixer-uppers | 620 | 3% | Read review | |
Best for non-bank | 620 | 3% | Read review | |
Best for non-bank | 620 | 3% | at New American Funding |
Min. Credit Score
620
Min. Down Payment
3%
Pros
- Offers an ITIN qualification path for undocumented borrowers.
- Has a digital application process.
- Offers several mortgage options for low- to moderate-income borrowers.
- Borrowers can qualify with income from self-employment and other nontraditional sources.
Cons
- No mortgage rates published online.
- No home equity loans or lines of credit.
- Generally has higher rates and fees than other lenders.
- Branch offices not available in all states.
at loanDepot
at loanDepot
Min. Credit Score
620
Min. Down Payment
5%
Pros
- Offers digital income, asset and employment verification.
- Offers multiple renovation loan options.
- Has over 200 affiliated loan stores nationwide for customers who prefer face-to-face service.
Cons
- Mortgage rates aren't available online; you'll need to contact a loan officer.
- Does not offer home equity loans or lines of credit.
Min. Credit Score
N/A
Min. Down Payment
3.5%
Pros
- Offers multiple online conveniences, including a full mortgage application, e-signatures and digital loan process tracking.
- Offers a wide variety of loan products, including home improvement and manufactured home loans.
Cons
- Does not offer home equity loan products.
- Average interest rates and fees are higher than other lenders.
Min. Credit Score
550
Min. Down Payment
3.5%
Pros
- Offers a full array of mortgage products, including government and renovation loans.
- Has loans for most purposes, including purchase, refinance and jumbo mortgages.
- Online portal keeps borrowers up-to-date on the loan application's progress.
Cons
- Doesn't post interest rates on its site.
- Doesn’t offer home equity loans or lines of credit.
Min. Credit Score
620
Min. Down Payment
3%
Pros
- Offers a variety of low-down-payment mortgages as well as construction mortgages.
- Website lets users estimate rates online by loan and property type, amount and location.
- Has an online mortgage application.
Cons
- Branches limited to mostly the Southeast region.
- Does not offer FHA loans.
Min. Credit Score
620
Min. Down Payment
3%
Pros
- Offers a wide variety of loan options, including special programs for doctors, entrepreneurs and other professionals.
- Offers a complete suite of online mortgage application tools and loan tracking.
- Sample rates and fees are easy to find on the website.
Cons
- Customized rates aren't available online without starting an application.
- Branches are limited mostly to the Southeast.
at Fairway Independent Mortgage
at Fairway Independent Mortgage
Min. Credit Score
620
Min. Down Payment
3%
Pros
- Offers a robust suite of loan products, including a variety of renovation loans.
- Has a digital application that can be completed in 10 minutes.
- Works with some state housing finance agencies to offer mortgages with down payment and closing cost assistance.
Cons
- Mortgage rates aren't posted online.
Min. Credit Score
620
Min. Down Payment
3%
Pros
- Full online application includes document uploads and automated loan updates.
- Offers a "float-down" interest rate lock.
- Offers a proprietary closing-cost assistance program.
Cons
- No online mortgage rates — you have to contact the lender for info.
- Doesn't offer home equity products.
Min. Credit Score
620
Min. Down Payment
3%
Pros
- Offers loan plans for borrowers without credit scores.
- Annual mortgage reviews help borrowers stay on track toward the goal of living debt-free.
- Offers digital conveniences such as document uploads and e-signature.
Cons
- Doesn't provide information online about rates and fees.
- Doesn't offer home equity loans or HELOCs.
- You can’t apply online without first speaking to a loan specialist.
at New American Funding
at New American Funding
Min. Credit Score
620
Min. Down Payment
3%
Pros
- Uses manual underwriting to evaluate creditworthiness.
- Offers full online mortgage application, rate quotes, document upload and loan tracking.
Cons
- Mortgage rates offered to borrowers are higher than the government-reported median of all lenders.
Last updated on January 28, 2021
Methodology
NerdWallet's star ratings for mortgage lenders are awarded based on our evaluation of the products and services each lender offers to consumers who are actively shopping for the best mortgage. The five key areas we evaluated include the variety of loan types and products offered, online conveniences, online mortgage rate information, and the rate spread and origination fee lenders reported in the latest available Home Mortgage Disclosure Act data. To ensure consistency, our ratings are reviewed by multiple people on the NerdWallet Mortgages team.
To recap our selections...
NerdWallet's Best Georgia Dream Mortgage Lenders of 2020
- Alterra: Best for online experience
- loanDepot: Best for online experience
- Guild Mortgage: Best for FHA loan
- HomeBridge: Best for FHA loan
- BB&T (Truist): Best for in-person service
- SunTrust (Truist): Best for in-person service
- Fairway Independent Mortgage: Best for fixer-uppers
- PrimeLending: Best for fixer-uppers
- Churchill: Best for non-bank
- New American Funding: Best for non-bank
