The Georgia Department of Community Affairs (DCA) has announced an expansion of its Homeowner Assistance Fund with the introduction of the Georgia Mortgage Assistance (GMA) Refinance Loan program. This new initiative aims to support homeowners who continue to face financial difficulties with their mortgage payments due to the effects of the COVID-19 pandemic.
“We’re looking to assist homeowners who have been unable to find a more affordable mortgage solution with their current mortgage or servicing company,” said Wesley Brooks, Deputy Commissioner for Homeownership at DCA. “The new GMA Refinance Loan program will help fill that gap and assist more of our fellow Georgians who need help to remain in their homes.”
The GMA Refinance Loan program features a 3 percent interest rate, loan terms up to 40 years, and covers attorney fees, housing counseling services, and loan origination fees. The opportunity is available for a limited time. According to federal guidelines, Georgia’s Homeownership Assistance Fund will end when allocated funds are depleted or by September 2026.
Homeowners interested in eligibility requirements and other related programs can visit www.georgiamortgageassistance.ga.gov for more information.
The DCA continues its work by providing community and economic development support throughout Georgia. The agency uses state and federal resources to promote affordable housing solutions, local government assistance, job creation efforts, planning initiatives, downtown development projects, and volunteerism. More details about these efforts can be found at dca.georgia.gov.
Additionally, the Homeowner Assistance Fund supports eligible homeowners affected by the pandemic in paying mortgages and other qualified housing expenses. Information about this fund is available at www.dca.georgia.gov.
