Binghamton Homeownership Academy

Home » Down Payment & Closing Cost Programs

Down Payment & Closing Cost Programs

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

Current Assistance Programs:

NEW for 2022!  Metro Interfaith HOME Purchase Assistance Program: Metro Interfaith is excited to announce that we are once again offering a Down Payment Assistance forgivable loan up to $30,000.00. Eligible applicants must meet HUD income eligibility standards. The home being purchased must be a single-family home located within Broome County and the purchase price cannot exceed $120,000.00. Those interested in participating must be First Time Homebuyers and complete Metro Interfaith one-on-one homebuyer counseling. All participants must have their own funds available to pay the closing costs and other fee’s related to the purchase of the home. The entire loan will be forgiven over a 5 or 10 year period depending upon the amount received. If interested please call Metro Interfaith Housing Counseling, 607.723.0582.

Federal Home Loan Bank, Home Buyer Dream Program:

The BHOA partners with several local banks and credit unions to offer a mortgage assistance program for First Time Home Buyers in New York State. The Home Buyer Dream Program,  offers up to a maximum of $10,000.00 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. For details, contact Chris Kylor, Town of Union Community Development Coordinator, 607-786-2976.

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




  1. Cerissa Hayes says:

    I am interested in your program

  2. Stephanie chase says:

    I am interested in a loan to get a house for my family

  3. Ebony Montgomery says:

    Good evening,

    I am looking to buy a home in the near future. I was just wondering if I could get any help with how to get started on that process and what program would be best for me.

    Thank you,
    Ebony Montgomery

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