EXHIBIT 12.1

Computation of Earnings to Fixed Charges

The following table sets forth HomeBanc Corp.s consolidated ratios of earnings to fixed
charges for the periods shown:



|                                     |  |                                      |         |   |      |   |        |  
|------------------------------------ |  | ------------------------------------ | ------- | - | ---- | - | ------ | -
|                                     |  | For the Three Months Ended March 31, |        
|                                     |  | 2007                                 |         |   | 2006 |  
|                                     |  | (Dollars in thousands)               |        
|Fixed Charges                        |  |                                      |         |   |      |   |        |  
|Interest expense                     |  | $                                    | 83,974  |   |      | $ | 61,508 |  
|Capitalized interest expense         |  |                                      | 416     |   |      |   | 303    |  
|Rental expense interest(1)           |  |                                      | 1,100   |   |      |   | 1,061  |  
|                                     |  |                                      |         |   |      |   |        |  
|Total                                |  | $                                    | 85,490  |   |      | $ | 62,872 |  
|                                     |  |                                      |         |   |      |   |        |  
|                                     |  |                                     
|Earnings                             |  |                                      |         |   |      |   |        |  
|Pre-tax (loss) income                |  | $                                    | (18,623 | ) |      | $ | 290    |  
|Income from equity investees         |  |                                      | (492    | ) |      |   | (514   | )
|Fixed charges                        |  |                                      | 85,490  |   |      |   | 62,872 |  
|Amortization of capitalized interest |  |                                      |        |   |      |   |       |  
|Minority interest                    |  |                                      | 61      |   |      |   | 52     |  
|                                     |  |                                      |         |   |      |   |        |  
|Total                                |  | $                                    | 66,436  |   |      | $ | 62,700 |  
|                                     |  |                                      |         |   |      |   |        |  
|                                     |  |                                     
|Ratio                                |  |                                      | 0.78    |   |      |   | 1.00   |  
|                                     |  |                                      |         |   |      |   |        |  
|Deficiency                           |  | $                                    | 19,054  |   |      | $ | 172    |  
|                                     |  |                                      |         |   |      |   |        |  

---

|(1) | Those portions of rental expense that are representative of interest cost.
|--- | --------------------------------------------------------------------------

The following table sets forth HBMCs ratios of earnings to fixed charges for the periods shown:



|                                     |  |                                      |         |   |      |   |         |  
|------------------------------------ |  | ------------------------------------ | ------- | - | ---- | - | ------- | -
|                                     |  | For the Three Months Ended March 31, |        
|                                     |  | 2007                                 |         |   | 2006 |  
|                                     |  | (Dollars in thousands)               |        
|Fixed Charges                        |  |                                      |         |   |      |   |         |  
|Interest expense                     |  | $                                    | 7,198   |   |      | $ | 4,707   |  
|Capitalized interest expense         |  |                                      | 416     |   |      |   | 303     |  
|Rental expense interest(1)           |  |                                      | 1,098   |   |      |   | 1,061   |  
|                                     |  |                                      |         |   |      |   |         |  
|Total                                |  | $                                    | 8,712   |   |      | $ | 6,071   |  
|                                     |  |                                      |         |   |      |   |         |  
|                                     |  |                                     
|Earnings                             |  |                                      |         |   |      |   |         |  
|Pre-tax (loss) income                |  | $                                    | (26,705 | ) |      | $ | (25,520 | )
|Income from equity investees         |  |                                      | (492    | ) |      |   | (241    | )
|Fixed charges                        |  |                                      | 8,712   |   |      |   | 6,071   |  
|Amortization of capitalized interest |  |                                      |        |   |      |   |        |  
|Minority interest                    |  |                                      | 61      |   |      |   | 52      |  
|                                     |  |                                      |         |   |      |   |         |  
|Total                                |  | $                                    | (18,424 | ) |      | $ | (19,638 | )
|                                     |  |                                      |         |   |      |   |         |  
|                                     |  |                                     
|Ratio                                |  |                                      | (2.11   | ) |      |   | (3.23   | )
|                                     |  |                                      |         |   |      |   |         |  
|Deficiency                           |  | $                                    | 27,136  |   |      | $ | 25,709  |  
|                                     |  |                                      |         |   |      |   |         |  

---

|(1) | Those portions of rental expense that are representative of interest cost.
|--- | --------------------------------------------------------------------------