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>> Acquisition-Rehab Program
>> Home Rochester Program
>> Owner-Occupied Rehabilitation Program
>> Pre-Purchase Homebuyer Counseling & Education
>> Post-Purchase Homeowner Counseling & Education
Acquisition-Rehab Program
The Acquisition-Rehab program for first-time homebuyers assists low and moderate income individuals and families in obtaining funding to purchase and make needed improvements and repairs to homes they are qualified to buy in the City of Rochester. Qualified households receive up to $35,000 to purchase and improve the home of their choice (subject to program guidelines).
Prospective first-time homebuyers receive up to $5,000 for down-payment/closing costs and up to $30,000 for rehabilitation on the home they are purchasing. Eligible properties include existing single family homes located in the City of Rochester. Through the program, homes are purchased by the homebuyer on the open market and rehabilitated to address major components such as roof systems, heating, water heaters, plumbing, electrical, health and safety issues, lead paint, and code violations.
The Acquisition-Rehab program is open to income-qualified homebuyers who have not owned a residential property within the last 3 years. Homebuyers must also be able to qualify for a conventional, fixed rate mortgage and contribute a minimum of $1,500 toward the purchase of their home.
The benefits of an Acquisition-Rehab home include:
Low Down Payment
Down-payment and Closing Cost Assistance
One-Year Warranty on All Work Completed
For more information please contact us today. tconcepcion@marketviewheights.org
HOME Rochester Program
The HOME Rochester program provides low and moderate income households an opportunity to participate in the American Dream through homeownership. HOME Rochester properties are single family homes located throughout many different neighborhoods in the City of Rochester.
Through the Home Rochester program, vacant and foreclosed houses in the City of Rochester are completely rehabilitated and transformed into beautiful, affordable homes for individuals and families to own and live in.
HOME Rochester homes are sold to income-qualified homebuyers who do not currently own residential property. Homebuyers must be able to qualify for a conventional, fixed rate mortgage and contribute a minimum of $1,500 toward the purchase of their home.
HOME Rochester homes are beautiful, single family homes located within the City of Rochester. Each home is as unique as the neighborhood in which it is located. Homes range from two-bedroom bungalows to five-bedroom Colonials. Hardwood floors, natural wood trim, roomy front porches and affordable living are the norm in HOME Rochester homes. In addition to the attractiveness of each home, there are many other benefits such as:
Lead Safe - Each HOME Rochester home is rehabilitated using Lead Safe Work Practices. All homes receive a lead clearance test to certify the home meets current lead safe standards. All homebuyers receive a copy of the lead clearance test at closing for their records.
One-Year Warranty on Major Mechanical System Defects - All HOME Rochester homes receive a one-year warranty on the heating system, plumbing systems, replaced roofs, electrical systems and window and door hardware.
Low Down Payment - Only $1,000 is required as a deposit upon signing a purchase offer. An additional minimum investment of $500 is required at closing.
Closing Cost Grants and Interest Write-Down Grants - Income-qualified homebuyers may qualify for a closing cost grant of up to $6,000 from the City of Rochester. Several participating mortgage providers offer a grant of up to $5,000 from the Federal Home Loan bank of New York to reduce the interest rate on conventional mortgages for HOME Rochester homebuyers.
For more information please contact us today. tconcepcion@marketviewheights.org
Owner-Occupied Rehabilitation Program
The purpose of our owner-occupied rehabilitation program is to improve housing conditions in the Marketview Heights neighborhood by providing repair and rehabilitation services to low income households. The primary objective is to eliminate conditions that are or might become hazardous to the health or safety of homeowners and their families.
Our housing staff is available to help you identify eligible improvements in your home and determine the best way to complete that work. We also help you find qualified local contractors who can complete the work on your home. Program guidelines limit eligible improvements to those work items needed to address health and safety issues and eliminate code violations. However, program funds cannot be used for general remodeling, additions, or other work that is not necessary to address health and safety problems in the home. The housing staff will explain the guidelines and identify eligible improvements at the time of application.
Assistance is available for single family owner-occupied households located in the Marketview Heights section of the City of Rochester with owners who qualify as low income (household income below 50% of the median). Financial assistance is in the form of deferred payment loans that do not have to be repaid as long as you comply with all program guidelines.
Eligibility for financial assistance is determined on the basis of household size and income. Each applicant must provide complete documentation of all income for every adult member (18 years and over) in the household. In addition, mortgage payments, taxes and homeowner’s insurance must be paid up to date. Applications are accepted on a first-come first-served basis.
For more information please contact us today. tconcepcion@marketviewheights.org
Pre-Purchase Homebuyer Counseling & Education
*** Coming Soon ***
Post-Purchase Homeowner Counseling & Education
*** Coming Soon ***
For more information please email us at tconcepcion@marketviewheights.org.