In August 2008, the City was awarded $300,000 in CHIP funds for the Griffin Home Buyer Assistance program to assistance 20 first-time, low income home buyers with the purchase of a home in the City of Griffin. Participants receive $12,500 in down payment and closing cost assistance from the Griffin Home Buyer Assistance & CHIP Programs.
The CHIP financing mechanism is a five-year, forgivable, deferred payment loan to be used in conjunction with private or public lender financing. The maximum deferred payment loan amount will be $12,500 per household. Twenty percent (20%) of the loan will be forgiven annually for the five-year affordability period.
To date, the City has assisted 8 participants with down payment assistance. We have the ability to assist 12 additional future homeowners and the program has been extended through September 2012.
For more information on the Griffin Home Buyer Assistance & CHIP Program contact Toussaint Kirk with the City of Griffin at 770-233-4130 or Leisa Minor with the Housing Authority of the City of Griffin at 770-227-7657, ext: 108.
Pictures below are homes that were recently purchased with down payment assistance.