First-time homebuyers in Columbus, Ga., can get up to $49,999 toward a down payment through the city's Sweet Home Columbus program, and the loan is forgiven if you live in the home for 5 or 10 years. The state's Georgia Dream program adds another option: up to $10,000, or up to $12,500 for police, firefighters, teachers, nurses and families with a member who has a disability.

Most people have never heard of either one. Here's who qualifies, how much you can get, what it costs you and exactly how to apply.

Why down payment help matters right now

Buying a home in Columbus costs more than it did a few years ago, mostly because of interest rates.

• The typical Columbus-area home was worth about $210,990 in August, according to Zillow.
• The average 30-year mortgage rate was 7.40% the week of Oct. 15, according to Freddie Mac.

On a $210,000 home with an FHA loan and the minimum 3.5% down, you'd need about $7,350 up front, and your monthly principal and interest would be about $1,403. That's before property taxes, homeowners insurance and mortgage insurance.

For many renters, the monthly payment isn't the problem. Saving thousands of dollars for the down payment is. That's the gap these programs fill.

Program 1: Sweet Home Columbus (up to $49,999)

This is the biggest local program, run by the Columbus Consolidated Government's Community Reinvestment Department with federal HOME funds.

How much: up to $49,999. The city decides your amount through underwriting, based on how much help you need. Not everyone gets the maximum.

How it works: It's a 0% interest loan with no monthly payment. Under the city's 2026 policy, the loan shrinks each year you live in the home and is forgiven completely at the end of the "affordability period":

If you sell, rent out or transfer the home before then, you repay part of it. The city's own example: on a $10,000 loan with a 5-year period, the balance drops $2,000 a year. Sell after Year 3, and you'd owe $4,000.

Who qualifies for Sweet Home Columbus?

• First-time buyers. That includes anyone who hasn't owned a home they lived in for the past 3 years. If you own a home now, you must sell it before applying, not rent it out.
• The home must be in Muscogee County and must be your main home.
• Your household income can't be more than 80% of the area median. The 2026 limits for the Columbus area:

Income counts every adult 18 or older living in the home.

What kind of home can you buy?

• The price cap is $252,000 for a single-family home in the Columbus area, according to the city's policy. The typical Columbus home is under that.
• The price can't be more than the appraised value.
• The home has to pass an inspection to federal housing standards.

What you have to bring to the table

• At least $1,000 of your own money toward the down payment and closing costs.
• At least $500 left in savings after closing, for emergencies.
• A fixed-rate mortgage. Adjustable-rate loans aren't allowed.
• Closing costs are on you or the seller. All of the city's money must go to the down payment, and you can't get any cash back at closing.

The city also checks that the payment is realistic. Your monthly housing payment can't be more than 39% of your gross monthly income, and all your debts together can't top 49%. Your lender must also qualify you to spend at least 20% of your income on housing, which screens out buyers with heavy credit card or car debt.

Here's what that means in dollars for a family of three earning the $60,950 limit: a housing payment between roughly $1,016 and $1,981 a month.

What $25,000 from Sweet Home Columbus could do

If a buyer received $25,000 toward a $210,000 home and put in the required $1,000, the mortgage would be about $184,000 instead of about $202,650.

At 7.40%, that's a monthly principal and interest payment of about $1,274, roughly $129 a month less than the FHA example above. Over the 10 years it takes for the loan to be forgiven, that's about $15,500.

These are examples. Your amount, rate and loan type will depend on your lender and the city's underwriting.

Program 2: Georgia Dream (up to $12,500)

The Georgia Department of Community Affairs runs Georgia Dream statewide, including Columbus.

How much:

How it works: It's a 0% interest second mortgage with no monthly payment. Unlike Sweet Home Columbus, it is not forgiven, so you'll repay it later. Ask your lender exactly when it comes due.

Who qualifies for Georgia Dream in Columbus?

Muscogee County falls in the state's "all other Georgia counties" group:

• Maximum home price: $475,000
• Maximum household income: $101,700 for 1 or 2 people; $116,955 for 3 or more

That's much higher than the Sweet Home Columbus limits, so many middle-income families who earn too much for the city program still qualify here.

Other rules:

• First-time buyers, or anyone who hasn't owned a home in the past 3 years. Buyers in certain targeted areas can also qualify.
• A credit score of at least 640.
• A homebuyer education course from a HUD-approved agency, online or in person.
• $500 to $1,000 of your own money, depending on the loan.
• No more than $20,000 in savings and other liquid assets, or 20% of the price, whichever is greater.
• A 30-year fixed-rate loan: FHA, VA, USDA or conventional.

Timing: Rate locks usually last about 75 days, and the state's compliance review takes at least 10 business days, so build that into your closing date.

Phone: (404) 679-4840

Other state options

• Peach Plus: for first-time and repeat buyers, with higher income limits than Georgia Dream. Down payment help is available.
• Peach Select VA: for veterans buying their first or next home. It doesn't include down payment assistance, but VA loans themselves usually require no down payment.

Program 3: Help for veterans and soldiers at Fort Benning

With Fort Benning next door, many Columbus buyers qualify for a VA loan. Eligible veterans and service members can usually buy with no down payment and no monthly mortgage insurance. Ask a lender for your Certificate of Eligibility.

Program 4: Buying in Phenix City or elsewhere in Alabama

The Georgia programs don't cover Alabama. Buyers in Phenix City and Russell County can look at the Alabama Housing Finance Authority:

• Step Up: 4% of the price, up to $10,000. For buyers earning $172,800 or less, regardless of household size. It requires a 640 credit score, total debts at or under 45% of income and a homeownership class.
• First Step: below-market rates for first-time or repeat buyers, plus down payment help of up to $10,000 or 4% of the price, whichever is lower. The help comes as a 10-year second mortgage.

How to apply, step by step

Step 1: Take the homebuyer class first

Both Sweet Home Columbus and Georgia Dream require a HUD-approved homebuyer class. For Sweet Home Columbus, it's an 8-hour seminar, and the city's policy says your certificate must be dated within 6 months of closing.

These local agencies are approved by the city:

• NeighborWorks Columbus: 345 Sixth St., (706) 324-4663 (324-HOME). It offers a free one-hour homebuyer orientation and an eight-hour homebuyer workshop.
• Urban League of Greater Columbus: (706) 322-6840
• Habitat for Humanity: (706) 653-6003

Step 2: Check your credit and your budget

Pull your free credit reports at AnnualCreditReport.com. Georgia Dream and Alabama's programs need a 640 score. Sweet Home Columbus doesn't list a number, but the city says buyers should have good credit and qualify for a standard loan.

Step 3: Get pre-approved by a participating lender

Not every lender offers these programs. For Sweet Home Columbus, the city lists these certified lenders:

For Georgia Dream, the state keeps a list of participating lenders on the DCA website. Your lender, not you, submits the down payment application.

Bring: 30 days of pay stubs, two years of W-2s and 60 days of bank statements. Georgia Dream asks for these; Sweet Home Columbus may also ask for tax returns from the last three years.

Step 4: Shop within your limits

Stay under the price cap: $252,000 for Sweet Home Columbus, $475,000 for Georgia Dream. Tell your real estate agent up front which program you're using.

Step 5: Close, then file your homestead exemption

After you move in, file for the homestead exemption with the Muscogee County Board of Assessors. In Georgia, the deadline is April 1 for that tax year. It lowers your property tax bill, and many buyers forget.

Can you combine programs?

Possibly, but it depends on the lender and each program's rules. Each one has its own income limits, price caps and paperwork. Ask your lender at pre-approval whether you can use more than one, and which gives you the most help.

The fine print to know before you sign

• Sweet Home Columbus is forgiven only if you stay. Move out early, and you'll owe part of it back.
• Georgia Dream is never forgiven. It's a second loan you'll eventually repay.
• Budget for closing costs. Sweet Home Columbus money can't pay them.
• Plan for taxes, insurance and repairs. The city requires that money be left in savings for a reason.

Are you a first-time buyer who used one of these programs? Tell us how it went at Columbus Times.