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What is it?
The Vine City/English Avenue Trust Fund or “The Trust Fund” is a program designed to provide mortgage assistance in the form of a 0% interest soft second mortgage in the amount of 10% of the purchase price not to exceed $15,000 to assist with down payment and closing cost. The lender will qualify the borrower for a 30 year fixed rate mortgage and use “Trust Fund” as down payment assistance.
What type of home can I buy?
You can purchase an existing or newly constructed single family detached homes, condominiums and town homes located within the Vine City/English Avenue neighborhood which is outlined by the following streets: Joseph Lowery Blvd on the west; Donald Hollowell Pkwy on the north; Northside Drive on the east; Martin Luther King Jr. Drive on the south within the incorporated limits of the City of Atlanta.
What are the income limits?
Household Size Income Limits
(1 person Household) $49,800
(2 person Household) $57,000
(3 person Household) $64,100
(4 person Household) $71,200
(5 person Household) $76,900
How do I apply?
- Contact one of our participating lenders to get pre-qualified and let them know you are interested in the Trust Fund program.
- The lender will have you complete a loan application which included all the ADA required documentation.
- Attend a homebuyer’s education seminar from one of our Preferred Homebuyer Education Seminar Providers.
- The lender will approve your loan based on the preferred mortgage companies’ guidelines and forward the ADA/URFA documentation to our office to be reviewed and approved.
Frequently Asked Questions
Trust Fund Program Flyer
Preferred Attorney List
Preferred Homebuyer Education Seminar Providers
Trust Fund Area Map
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