Down-Payment Assistance

You find the house and make it yours! Up to $20,000 in down-payment assistance PLUS up to $20,000 in necessary repairs.

Available on one-family homes anywhere in the City of Albany.

Must be a first-time homebuyer or have not owned a home in the past three years.

Household must meet HUD income guidelines.

Contact: Albany Community Land Trust, (518) 426-1296.

Click here for a detailed flyer.

Faculty and staff of six Albany colleges are eligible for grants of $5,000 towards a down-payment and/or closing costs in expanded areas of the Pine Hills, Delaware Area and Park South neighborhoods.

No income limits.

Contact: Ashley D'Antonio, City of Albany, (518) 434-2532 x26 

Click here for Midtown program flyer
 

When funds are available, the City of Albany provides deferred loans of up to $14,900 to assist with the purchase of properties anywhere in the City of Albany. The loan is forgiven if you occupy the home for 5 years. HAP is often combined with the City's Lead Paint Abatement Program. 

HUD income limits apply.

Contact the Albany Community Development Agency, (518) 434-5240.

Funds are limited. Check availability.
 

Up to $23,000 in funding for acquisition of a single family home in Arbor Hill.

Property to be in good condition or need up to $5,000 in minor repairs. For first time buyers.

HUD income limits apply.

Contact Arbor Hill Development Corp. at (518) 463-9993.
 

The Town of Colonie provides $25,000 for down payment and closing costs for the purchase of a single family home within the town. This is a deferred loan that becomes a grant if you occupy the home for a period of 10 years.

Home must be in good condition at time of purchase and meet HUD Housing Quality Standards (HQS).

Available in the Town of Colonie.

HUD income limits apply.

To be placed on their waiting list, contact the Colonie Community Development office at (518) 783-2718.

The Albany County Rural Housing Alliance provides first-time buyers with a grant for acquisition and repairs.  The award amount depends on amount of repair needed as 51% of the grant funds must be used toward rehabilitation costs; the maximum award is a $25,000 grant. 

Eligible areas are: Throughout Albany County.

For more information on this and other grants offered by the organization, contact ACRHA at (518) 765-2425. Application forms and details are available on ACRHA's website.

$5,000 toward the purchase of a 1-4 unit home in the City of Watervliet. 

Participating lenders include First Niagara and Pioneer Bank. For first time homebuyers, 5-year owner occupancy requirement.

Property to be in move-in condition. 

Contact the City of Watervliet at (518) 270-3800.

The Schenectady Housing Development Fund Corporation provides up to 10% of the purchase price of a home in the city of Schenectady to be used for down payment or closing costs.  75% of the assistance is forgiven after five years of owner occupancy. Remainder is repaid with a five year amortization. The property must be in standard condition and pass a Certificate of Occupancy inspection. 

HUD income limits apply.

Contact the Schenectady Department of Development, (518) 382-5147.

Better Neighborhoods Inc. offers several forgivable loan programs for repairs at the time of purchase. 

The program is available in various Schenectady neighborhoods, depending on funding availability. Additional funds are available to buy and repair on Emmett Street.

For details and income limits, contact BNI at (518) 372-6469 or visit www.better-neighborhoods.org.

Check availability of the Homeownership Incentive Program. If available, it offers $12,500-20,000 in down payment assistance to owner-occupant purchasers. Grant amounts are based on household income. Grants require TRIP home ownership training and are available throughout the City of Troy.

HUD 80% of median income limits apply.

Contact the Troy Planning Department at (518) 270-4618.

RCHR offers HOME money up to $20,000 towards a home purchase, anywhere in Rensselaer county except the City of Troy.

1-4 unit owner-occupied homes are eligible.

Homes must be in good condition at the time of purchase and pass a HUD "Housing Quality Standards" (HQS) inspection. 

Income limits are 80% of HUD median income.

Contact the TRIP HomeOwnership Center at (518) 690-0020 or visit TRIP's website for details.

CHECK AVAILABILITY.

Schoharie RPC offers first-time home buy grants and/or repair grants though three home purchase assistance programs.

Applicants must meet income guidelines.

Funds can be use for down payment and closing, and rehabilitation monies to address health and safety hazards in the home.

Call for details, eligibility and availability: (518) 234-7604