WHAT RESOURCES DOES THE HOMEOWNDERSHIP CENTER OFFER TO FIRST-TIME HOMEBUYERS?
Grants for First-Time Homebuyers
Bronx NHS successfully works with local municipalities and lenders to attain funding to assist low-to-moderate-income, first-time buyers with their home purchases. Qualifications for assistance vary depending on funding sources. You will learn more details at our workshop, where our counselors will explain current funding opportunities. Funding can be used for down payment, closing costs and/or post-closing repairs to the home.
Section 8 to Home Ownership
Section 8 to Home Ownership provides a wonderful opportunity for families receiving Housing Choice Voucher Program (Section 8) rental assistance to create roots in the community, create pride, and have a safe place for their children. Contact your HCV Specialist to see if you are eligible to apply.
Mortgage Loan Programs
Bronx NHS offers a variety of loan products in partnership with key mortgage lenders. Including but not limited to SONYMA.
Individual Mortgage Readiness Analysis
You are eligible to receive an in-depth mortgage readiness assessment from one of our certified housing counselor. They will review your income, credit, budget and savings, and set you on the path to homeownership. If you are ready, ask if you qualify for grants to assist you.
Homebuyer Dream Program
The Homebuyer Dream Program is offered by local lenders through the Federal Home Loan Bank of New York. Grants up to $15,000 for down payment and closing costs.
Homebuyer Education
Creating knowledgeable homebuyers is our goal. Through our education program, we will walk you through the entire homebuying process. You will also benefit from meeting experienced professionals such as attorneys, lenders, home inspectors, realtors, and others who will share their local market perspectives. For your convenience, Bronx NHS offers both in-person and online education options that best fit your busy schedule.
SONYMA Neighborhood Revitalization Program
This Program is for Homebuyers purchasing homes in Ulster County and Orange County in need of repairs.
We’re connecting homebuyers with SONYMA’s Neighborhood Revitalization Program , a package of incentives to help owner‐occupant homebuyers purchase and renovate vacant homes in the Bronx.
We’re connecting homebuyers with SONYMA’s Neighborhood Revitalization Program , a package of incentives to help owner‐occupant homebuyers purchase and renovate vacant homes in the Bronx.
Program Features Include:
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Up to $20,000 cash assistance to renovate a home that you purchase
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Access to financing additional improvements into your purchase mortgage for post-closing rehab
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NRP can be combined with other grants and assistance programs thereby maximizing your ability to make your new home safe, secure and energy-efficient
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SONYMA mortgages of 30 years, low interest, no “Borrower Points,” down payment assistance arranged through select banks (M&T Bank , Citi Bank, Wells Fargo, Freedom Mortgage)
Eligible Properties:
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Vacant properties in designated areas capable of housing 1 to 4 families
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Seller must be able to pass a clean title to the purchaser
Eligible Applicants:
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Applicant must occupy the property as the primary residence
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Eligibility is determined by income limits up to 125% of Area Median Income (which varies by county) or 150% on a case‐by‐case basis
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Good credit, stable employment and ability to make monthly mortgage payments
We’re ready to assist you with the purchase of a vacant home* located one of the eligible
communities of the Bronx. For assistance call 718.881.1180.
*Vacant simply means no one is living at the address. The property does not have to be abandoned to qualify.