Depending upon current funding, there may be a variety of loans/grants available to assist with down payment and closing cost assistance for first-time home buyers. Applicants must complete either One-on-One Counseling or one of our Pre-Purchase Home Buyer Workshop to qualify for a loan/grant assistance.

Current Assistance Programs:

NEW!!   Federal Home Loan Bank, Home Buyer Dream Program:

The BHOA partners with several local banks and credit unions to offer a BRAND NEW mortgage assistance program for First Time Home Buyers in New York State. The Home Buyer Dream Program,  offers up to a maximum of $15,000.00 for closing costs and down payment assistance. You only need to have $1,000.00 of your own money to participate!

Town of Union First Time Home Buyer Program:

If you are a first time home buyer purchasing within the Town of Union you could be eligible for a deferred forgiven loan up to $5,000 for closing costs or down payment assistance. If the home is sold or transferred within 10 years of purchase or the home is no longer the owners primary residence then a portion of the loan becomes due and payable.

City of Binghamton First Time Home Buyer Program:

Provides first time home buyers with deferred loans to assist with down payment and closing costs . The deferred loans are made in amounts up to $5,000.00 to assist with closing costs/down payment. If title to the property is sold or transferred within 5 years, or the home is no longer the owner’s principle place of residency, 100% of the loan becomes due and payable. After 5 years the loan is forgiven in full.

Call the BHOA for eligibility requirements today! 607.723.0723