Tag Archives: Home Buyer Programs

First-time Home Buyer Programs

As a first-time home buyer, there are several programs and financial assistance you can avail to help you fund your real estate purchase in Westchester County.

Family holding green paper houseHousing Action Council (HAC)

(914) 332-4144
http://www.housingactioncouncil.org/

HAC provides financial assistance programs as well as counseling for first-time home buyers. You can apply for the First Home Club savings plan which covers a 10 to 30-month savings period and up to $5,000 in down payment, or you can opt for the Front Door Program, as long as you are considered income-eligible and a current resident in Westchester County.

Westchester Residential Opportunities (WRO)

(914) 428 4507
http://wroinc.org

WRO provides financial assistance for low- and moderate-income people, senior citizens, minorities, as well as the mentally disabled. They offer a First Home Club assistance, Individual DevelopmentAccounts, and even counseling for first-time home buyers.

Human Development Services of Westchester (HDSW)

(914) 835 8906
http://hdsw.org

One of HDSW’s main goals is to increase and preserve affordable housing in the village of Port Chester. They offer financial programs such as one-to-one homebuyer counseling and a First Home Club savings plan.

Community Housing Innovations, Inc. (CHI)

(914) 683 1010
http://chigrants.org

CHI has several financial programs designed to help first-time homebuyers cover down payment, closing costs, and even rehabilitation expenses. One such program is the Westchester County Home Ownership Initiative, which offers a $25,000 grant to income-eligible first-time homebuyers interested to buy a condo, house, or cooperative within the county.

HomePath by Fannie Mae

1 800 732 6643
http://homepath.com/ready_buyer.html

Under the Federal National Mortgage Association (FNMA), popularly referred to as Fannie Mae, HomePath now offers the HomePath Buyer Ready Program, which services qualified first-time home buyers. Applicants are required to take an education course, which can lead to a 3% closing cost assistance towards your real estate purchase. To qualify for the program, you must be a

  • First-time home buyer
  • Must reside in the property within 60 days of closing
  • Property must be listed on Homepath.com to be considered eligible for the program

 

First-time home buyers living in tenant-occupied properties, as well as buyers using public funds are both considered eligible candidates by Fannie Mae.

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