The Home Ownership, Promotion, Education, and Research (HOPER) Program is an FHA-backed initiative designed to help homebuyers by offering financial incentives and promoting energy efficiency. Qualified participants can receive up to $13,000 (3.5% of the home purchase price) to use toward down payments, closing costs, or other expenses. In return, participants commit to making their new homes energy-efficient, primarily by installing solar panels, which are financed within their FHA loan.
Key Benefits of the HOPER Program
- Financial Assistance – Receive up to $13,000 to help with your home purchase expenses.
- Energy Efficiency – Reduce your energy bills by incorporating solar panels into your new home.
- Tax Benefits – Take advantage of a 30% federal tax credit on the cost of solar installation.
- Increased Home Value – Homes with solar panels may see an increase in property value.
Who is Eligible?
- Must purchase a single-family primary residence.
- The HOPER Program is available in most states, except for North Dakota, South Dakota, Alabama, Hawaii, and Alaska.
- Perfect credit is not required.
- Completion of a 6-8 hour online homebuyer education course.
- Agreement to install solar panels, financed through the FHA loan, within a set timeframe after closing.
How the HOPER Program Works
- Pre-Approval – Get pre-approved for an FHA mortgage loan through a participating lender.
- Homebuyer Education – Complete an online, self-paced homebuyer education course before closing.
- Financial Incentive – Receive up to $13,000 (or 3.5% of the purchase price) to use toward down payment, closing costs, or other expenses.
- Solar Installation – Work with a HOPER consultant to design a solar panel system, with the full cost rolled into the mortgage—requiring $0 out of pocket.
Get Started with Mortgage Mario!
If you’re looking to take advantage of the HOPER Program in Georgia, Mortgage Mario is here to guide you every step of the way. From understanding the program’s benefits to navigating the FHA loan process, I’m committed to helping you achieve homeownership while making your home more energy-efficient.
Have questions? Ready to see if you qualify? Contact me today, and let’s explore how the HOPER Program can help you get into your dream home.
