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