Building a Better Community -- ACT I Homes

Brand new, three bedrooms, two baths, close to schools and shopping and a monthly payment around $650. Available now.

Sound like a dream home? The opportunity actually exists. The Athens Housing Authority designed the ACT I Homes program so that first-time homebuyers could access new, modern homes at an affordable price. ACT I Homes provide affordable homeownership with value for buyers and the community.

Homeownership contributes in the creation of healthy, viable neighborhoods. The Athens Housing Authority has been at the forefront of creating homeownership opportunities for moderate- income first-time homebuyers.

Using funds from Community Development Block Grants (CDBG) and HOME funds administered by Athens-Clarke County Department of Human and Economic Development (HED), the Athens Housing Authority has worked to revitalize neighborhoods in the community. This has resulted in the construction of new homes in established neighborhoods in East Athens and the Hancock Ave. area.

Who Is a Typical ACT I Homes Buyer?

ACT I Homes buyers are working families earning a modest annual income. Most of the families earn between $20,000 and $30,000 a year. They work at a variety of jobs in the public and private sector. Each ACT I Homes buyer believed that the money he or she paid each month for rent could be better spent to purchase a home for his or her family.

To be eligible for an ACT I home, potential buyers must meet the following requirements:

1. Have a household income of no more than 80 percent of the median income for Athens-Clarke County (see chart below) but at least $18,000 annually in order to have sufficient funds for mortgage payments, taxes, insurance, and other household and family expenses.
   
   

Number of Family Members	1	2	3	4	5	6
Maximum Family Income	$29,700	$33,900	$38,150	$42,400	$45,800	$49,200




2. Attend housing counseling.
   
   
3. Have credit scores of 600 or more.
   
   
4. Have a minimum down payment of $1000.
   
   
5. Be financially qualified to obtain a mortgage.
   
   
6. Contact the Athens Housing Authority at 425-5411 for an information and application packet.

What Does ACT I Homes Do for the Community?

Act I Homes helps to maintain affordable housing in the community. The Athens Housing Authority typically purchases vacant lots or lots with dilapidated housing for the ACT I Homes program. Construction of the houses introduces new homes and homeownership to older areas of the community. With the purchase of ACT I Homes, interest in the area is revitalized and, frequently, more construction is started by private developers. ACT I Homes helps the community by increasing the property tax base and the number of homeowners in Athens-Clarke County. It is a winning situation for everyone in the community.