(ATLANTA, GA.) — Atlanta city officials unveiled a new mortgage assistance program last Tuesday aimed at helping more residents afford homes near the Beltline.
The program, announced by Mayor Andre Dickens, Invest Atlanta, and Atlanta Beltline Inc., is the latest piece of the city's broader affordable housing strategy, which officials say includes down-payment assistance, owner-occupied home rehabilitation, and anti-displacement programs.
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"I think the message that we want to send is loud and clear," Eloisa Klementich, president and CEO of Invest Atlanta, said. "This program has helped us meet the homeowner where they are and really provide that gap that they need so that they can accomplish their dreams."
The Atlanta Beltline Mortgage Assistance Program will provide up to $30,000 for eligible homebuyers to use toward a down payment, closing costs, an interest-rate buy-down or principal reduction, according to Mayor Dickens. He said that the $1.5 million initiative could help roughly 40 to 50 households purchase homes.
Klementich said qualified buyers can apply the assistance in several ways, giving first-time homebuyers more flexibility than traditional down-payment assistance programs. She said Invest Atlanta has helped more than 650 homebuyers over the past five years through similar programs, providing more than $13 million in assistance.
Atlanta Beltline Chief Operating Officer Ruben Brooks said the organization has made affordable housing a central part of the Beltline's mission as property values continue to climb along the trail corridor.
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"We've seen home prices increase dramatically, and that's why affordable housing has always been central to the Beltline's mission from day one," Brooks said.
Brooks said the Atlanta Beltline has created or preserved more than 4,500 affordable housing units since 2018, reaching about 81% of its goal to deliver 5,600 units by 2030. But he said expanding homeownership opportunities is equally important.
"Housing is much more than just creating a place to rent," Brooks said. "It's also about creating pathways to homeownership."
The mortgage assistance funds come directly from the Beltline's housing budget and are intended to help teachers, firefighters, police officers, nurses, city employees, and other longtime residents purchase homes in Atlanta, Brooks added.
"The people who have lived here, grown here, have raised families here, worked here, and invested in these neighborhoods deserve the opportunity to also invest in their futures right here," he said.
The announcement took place outside newly built townhomes in southwest Atlanta, where Dickens said the development demonstrates how multiple city housing initiatives can work together. While the assistance can be used in neighborhoods across Atlanta, he said the location illustrates investments through the Atlanta Land Trust, Beltline funding and nearby transit access.
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"This is part of our Southwest Atlanta Neighborhood Reinvestment Initiative neighborhood," Dickens said. "This is just a meaningful backdrop where all things are coming together."
Officials said prospective buyers can learn more about the program and complete a required homebuyer education course through Invest Atlanta or Atlanta Beltline Inc. before applying.
To add to or correct information in this report, please contact me at mia.s@lead4earth.org.
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