New program empowering Georgia renters to take on homeownership

There is a new pathway to homeownership for those struggling with high rent prices and rising interest rates.
Published: Jan. 25, 2023 at 6:21 PM EST
Email This Link
Share on Pinterest
Share on LinkedIn

ATLANTA, Ga. (Atlanta News First) - There is a new pathway to homeownership for those struggling with high rent prices and rising interest rates.

The Pathway to Homeownership Program, created by Center Creek Capital Group, graduated its first family Wednesday. The program is the company’s way of addressing the affordable housing crisis.

“We wanted to be able to buy houses, renovate them, give people the option to rent for as long as they want, and give them all the tools to become homeowners,” said Dan Magder with Center Creek Capital Group.

It can take families years to get through the program. Renters set up a designated savings account for a future down payment. That money is matched two to one. Families meet with financial advisors and credit counselors to set up a budget and stay on track. Families who pay their rent on time in the months leading up to buying their home will get up to 3 percent of closing cost assistance.

The first person to make it through the Pathway to Homeownership Program is Metro Atlanta father and husband Mauricio McGarity.

“Since being in this program my credit score has gone up well over 100 points,” said McGarity, ”It is a proud feeling when you don’t have to take whatever someone is giving you--you can shop around.”

Mauricio, his wife and his children will own a home by Wednesday night.

“He is going to be the model. He can do it, other people can do it!” said Magder.