DOWN PAYMENT HOLDING YOU BACK?
ATLANTA – September 17, 2010 – With dropping interest rates, there has never been a better time to buy a home, even if you don’t have enough money put aside for the down payment. “Don’t let that minor detail stand in your way of buying a home at Studioplex in Atlanta’s Historic Old Fourth Ward community,” says Dillon Baynes, managing partner of Studioplex – www.StudioplexLofts.com.
Studioplex has teamed up with the Atlanta Development Authority and AmericaHomeKey, Inc. – www.giveyourselfthekey.com – to offer up to $50,000 in down payment assistance to qualified buyers.
According to Theresa Garcia, mortgage loan originator for AmericaHomeKey, Inc, “We have a number of loan products available to help the buyer who has little or no down payment funds available.” For more information, contact Theresa Garcia at (770) 330-3234 or [email protected].
Two of the most popular programs offered by the Atlanta Development Authority are the Opportunity Downpayment Assistance Program (ODAP - http://www.atlantada.com/buildDev/ODPAP.jsp) and the Atlanta Affordable Homeowners Program (AAHOP - http://www.atlantada.com/buildDev/AAHOP.jsp). Homebuyers with income levels up to $71,700 for a two-person household may be eligible for up to $25,289 with a deferred payment of up to ten years. AAHOP has an income cap of $40,150 for one person and a maximum loan amount of up to $10,000.
“These are just a sample of the many financing programs offered by the Atlanta Development Authority that can make the dream of owning a loft at Studioplex a reality,” adds Baynes. “We have a few homes remaining at Studioplex that qualify for these down payment assistance programs approved by the ADA.”
Homes at Studioplex are priced from the $120s, with features that include 12 – 18’ ceilings, exposed brick walls, poured concrete floors and stainless steel appliances.
Studioplex offers a vibrant and unique community. Residents can walk to nearby shops and restaurants and are only minutes away from downtown, Interstate 85 and Hartsfield-Jackson Atlanta International Airport.
“The variety of retail and restaurants in the area – from Edgewood Avenue to Irwin Street and Auburn Avenue in the Old Fourth Ward and on to N. Highland – makes Studioplex a true opportunity in Atlanta’s hottest retail, restaurant and residential district,” added Baynes.
For more information, contact Misty Meredith, the on-site sales agent, at (404) 733-6000 or [email protected].
About Studioplex
Studioplex, located at 659 Auburn Avenue in Atlanta’s historic Old Fourth Ward, features 130 live/work lofts as well as 9,100 sq. ft. retail space in the Pavilion at Studioplex. Sales Center hours: Tuesday - Saturday: 10-5; and Sunday: 1-5. Email: [email protected]. Studioplex is developed by three partners: The Historic District Development Corporation (HDDC); Columbia Residential and Orinda Corporation. Studioplex website: www.studioplexlofts.com
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