Grants available for first-time homebuyers

Thursday, April 21, 2016 - 01:01

VOORHEESVILLE — The Albany County Rural Housing Alliance Inc. has been awarded $360,000 in grant funds to help first-time homebuyers with mortgage down payment and closing costs.

Grant amounts vary, but generally range from $15,000 to $30,000 per household. The funding comes from the New York State Homes and Community Renewal

Buyers must purchase a single family residence in Albany County (anywhere outside the city of Albany), contribute $1,500 of their own funds to the purchase, attend a homebuyer education course, and obtain a fair and safe mortgage from a reputable lender that fits within their household budget, according to a release from the association. Participating households must meet the program’s income and credit qualifications.

The alliance also offers grant and loan programs to assist low- to moderate-income households in Albany County with home repairs or the purchase of a first home, and it is approved by the federal Department of Housing and Urban Development as a Housing Counseling agency.  Counseling services are free of charge and available to anyone, regardless of location or income level.  For more information about ACRHA’s down payment assistance grant guidelines contact either Tracy Gibeau at (518) 765-2425, ext. 2589 or Lauren Bachner at (518) 756-3656.

— Melissa Hale-Spencer

Tags:

More Community news

  • Lupine blooms in May and so does its pine bush festival

    Lupine Fest will be celebrated for a month this year.

    Every day in May, the Pine Bush Preserve will offer activities and events celebrating the iconic flower that is essential to the life cycle of the endangered Karner blue butterfly.

  • Octogenarian celebrated by Hannaford co-workers

    Coppola, who works as a customer service associate at the Guilderland Hannaford, was busy helping a shopper at 11 a.m. on April 17 when Michele Fleming’s voice came over the supermarket’s public-address system: “All associates, come to the bakery for a very special huddle,” she said.

  • ‘The Great American Songbook’ performed by Mendelssohn Club and Swing Docs

    DELMAR — The Mendelssohn Club of Albany will perform its traditional spring concert at 7:30 p.m. on Friday, May 16, in the New York State Education Building’s historic Chancellors Hall.

The Altamont Enterprise is focused on hyper-local, high-quality journalism. We produce free election guides, curate readers' opinion pieces, and engage with important local issues. Subscriptions open full access to our work and make it possible.