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 2023!
Metro Interfaith Purchase Assistance LOAN with  Key Bank, Tioga State Bank or Chemung Canal Bank mortgage:

Down Payment and Closing Cost Assistance  as $5,000.00 with no fees, no interest loan.
Income limit 120% of HUD AMI for Broome County.
One or two family home.
Owner-occupancy requirement.
Applicants must have funds for down payment and some closing costs.
Home to be purchased must be in Broome County.
Secondary, subordinate lien filed on the property.
$100.00 per month payback included in mortgage payment for 50 months.

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  ext 311 or 312.




  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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