Atlanta Habitat for Humanity, Inc., has been approved for $2 million in Housing Opportunity Bond Funds – Nonprofit for the construction of 64 single-family, for-sale units in the Orchard Knob neighborhood. Located on Browns Mill Road in Southeast Atlanta, Browns Mill Village will feature 64 units at 80% area median income (AMI).
Atlanta Habitat for Humanity prices homes at market rate before writing down the first mortgage to an amount the buyer can afford and structures a 30-year, interest-free first mortgage that ensures long-term affordability. Atlanta Habitat for Humanity also includes a shared equity provision and buy-back clause, providing first right of refusal to purchase the home if the mortgage is outstanding.