Skip to main content

N.Y. Program to Grow Upstate Homeownership by College Grads

Phil Hall
May 16, 2017
New York’s state government is seeking to expand homeownership opportunities in its upstate metro areas with a new $5 million Graduate to Homeownership Program to help recent college graduates become first-time homeowners

New York’s state government is seeking to expand homeownership opportunities in its upstate metro areas with a new $5 million Graduate to Homeownership Program to help recent college graduates become first-time homeowners.
 
The pilot program, which will be available in eight upstate cities participating in Governor Andrew Cuomo's Downtown Revitalization Initiative, offers low-interest rate mortgages, a down payment assistance loan with no additional fees, and a homebuyer education course. Qualified first-time homebuyers must have graduated from an accredited college or university with an associate's, bachelor's, master's or doctorate degree within the last 48 months in order to receive the program’s down payment assistance loan of the greater of $3,000 or three percent of the home purchase price up to a maximum of $15,000, with no additional fees.
 
"We continue to invest in the development of downtown areas across Upstate New York, and with the launch of this innovative program, we will take our efforts a step further by enticing young graduates to make an investment in these communities and in their future," said Cuomo. "By removing barriers for talented graduates and allowing them to afford a new home in the Empire State, we are laying the foundation for stronger, more viable communities across New York for generations to come."

 
Published
May 16, 2017
Federal Regulators Race To Address Cryptocurrency Risks

Cryptocurrency is quickly morphing into a volatile but widely embraced innovation, and federal regulators are racing to address the potential risks to consumers and the market. 

Industry News
Sep 24, 2021
MBA Initiative Seeks To Close Racial Homeownership Gap

Says its advocacy, partnerships & connections will help increase opportunities for minority borrowers

Industry News
Sep 24, 2021
Guaranteed Rate Opens New Branch In Southwestern Michigan

Guaranteed Rate expanded its presence in Southwester Michigan, after opening a new branch in St. Joseph

Industry News
Sep 22, 2021
Chinese Property Giant Evergrande Falters, Threatening U.S. Investors

On Monday, investors across three continents dumped their stocks, mainly out of fear that the world’s two largest governments — the United States and China — would undercut the beginnings of a global economic recovery. 

Industry News
Sep 22, 2021
Compass Mortgage Expands In Four Additional States

Compass Mortgage is now licensed in Virginia, Washington, North Carolina and South Carolina.

Industry News
Sep 22, 2021
Enact Holdings Completes IPO

Genworth Financial Inc. announced the completion of the initial public offering for its subsidiary Enact Holdings Inc.

Industry News
Sep 21, 2021