The only strict requirement is that you must meet certain income restrictions and qualify for a fixed rate mortgage. You may think that you can't qualify for a mortgage, but you would be surprised of the programs out there, in Georgia some even give you 1-point below market rate. Your credit doesn't have to be superb either. And also, if you meet these income requirements you could get down payment assistance as well.

The sales price for one bedroom units is $144,000 and the sale price for two bedroom units is $155,000 at the properties below. And for those that live in Atlanta, you know these units actually go for ALOT more than this. We're talking 20K+ more and up. And for those that have a hustler mentality, you could possibly buy the property and then sell it once the unit is ready and pocket the equity. It's ALL legal. That's how the white folks do it. Work the system, don't let it work you brothas.

Current Properties: Twelve at Centennial Park, Tribute Lofts, The Reynolds, The Edge Lofts, Renaissance Walk at Sweet Auburn and Oakland Park

Income Requirements:

Household Size Income Limit

1 Person $39,850

2 Person $45,550

3 Person $51,250

4 Person $56,590

5 Person $61,500

Check out the Atlanta Development Authority web site for more information and how to get in on this opportunity.
http://www.atlantada.com/buildDev/DowntownAffordableHousing.jsp