More Georgians are now one step closer to homeownership with the March 22 passing of HB773.

The bill increases the Georgia Housing and Financing Authority bonding limit by more than $1 billion – from $1.3 billion to $3 billion. In turn, these dollars will fund the Georgia Department of Community Affairs Georgia Dream Homeownership Program which provides eligible first time home buyers with mortgage loans, down payment assistance and home buyer education.

Participants in the Georgia Dream Program must have limited assets, meet income and purchase price limits and must be able to invest at least $1,000 into the purchase of a single family residential home.

The bill, sponsored in the House by State Representative Penny Houston (R-Nashville) and State Senator Charlie Bethel (R-Dalton), is currently awaiting the Governor’s signature.