EXHIBIT 12.1



Computation of Earnings to Fixed Charges- HomeBanc Corp.



|                             |  |                                       |         |   |      |   |         |  
|---------------------------- |  | ------------------------------------- | ------- | - | ---- | - | ------- | -
|                             |  | For the Nine MonthsEndedSeptember 30, |        
|                             |  | 2005                                  |         |   | 2004 |  
|                             |  | (Dollars in thousands)                |        
|Fixed Charges                |  |                                       |         |   |      |   |         |  
|Interest expense             |  | $                                     | 121,549 |   |      | $ | 28,938  |  
|Rental expense interest      |  |                                       | 2,812   |   |      |   | 2,754   |  
|                             |  |                                       |         |   |      |   |         |  
|Total                        |  | $                                     | 124,361 |   |      | $ | 31,692  |  
|                             |  |                                       |         |   |      |   |         |  
|Earnings                     |  |                                       |         |   |      |   |         |  
|Pre-tax income               |  | $                                     | (19,706 | ) |      | $ | (47,703 | )
|Income from equity investees |  |                                       | 197     |   |      |   | 163     |  
|Fixed charges                |  |                                       | (715    | ) |      |   | (280    | )
|Minority interest            |  |                                       | 124,361 |   |      |   | 31,692  |  
|                             |  |                                       |         |   |      |   |         |  
|Total                        |  | $                                     | 104,137 |   |      | $ | (16,128 | )
|                             |  |                                       |         |   |      |   |         |  
|Ratio                        |  |                                       | 0.84    |   |      |   | (0.51   | )
|                             |  |                                       |         |   |      |   |         |  
|Deficiency                   |  | $                                     | 20,224  |   |      | $ | 47,820  |  
|                             |  |                                       |         |   |      |   |         |  



Computation of Earnings to Fixed
Charges- HomeBanc Mortgage Corporation



|                             |  |                                       |         |   |      |   |         |  
|---------------------------- |  | ------------------------------------- | ------- | - | ---- | - | ------- | -
|                             |  | For the Nine MonthsEndedSeptember 30, |        
|                             |  | 2005                                  |         |   | 2004 |  
|                             |  | (Dollars in thousands)                |        
|Fixed Charges                |  |                                       |         |   |      |   |         |  
|Interest expense             |  | $                                     | 18,258  |   |      | $ | 15,796  |  
|Rental expense interest      |  |                                       | 2,812   |   |      |   | 2,754   |  
|                             |  |                                       |         |   |      |   |         |  
|Total                        |  | $                                     | 21,070  |   |      | $ | 18,550  |  
|                             |  |                                       |         |   |      |   |         |  
|Earnings                     |  |                                       |         |   |      |   |         |  
|Pre-tax income               |  | $                                     | (62,033 | ) |      | $ | (50,660 | )
|Income from equity investees |  |                                       | 197     |   |      |   | 163     |  
|Fixed charges                |  |                                       | (715    | ) |      |   | (280    | )
|Minority interest            |  |                                       | 21,070  |   |      |   | 18,550  |  
|                             |  |                                       |         |   |      |   |         |  
|Total                        |  | $                                     | (41,481 | ) |      | $ | (32,227 | )
|                             |  |                                       |         |   |      |   |         |  
|Ratio                        |  |                                       | (1.97   | ) |      |   | (1.74   | )
|                             |  |                                       |         |   |      |   |         |  
|Deficiency                   |  | $                                     | 62,551  |   |      | $ | 50,777  |  
|                             |  |                                       |         |   |      |   |         |