Home Ownership Programs

There are several homeownership programs in Greater Rochester Area. Some are locally administered; others are administered by statewide agencies. Many of these programs can help you on your path to homeownership. Some provide matching funds for savings or down payments, pay your closing costs, and help you find a new home. All programs have specific requirements that must be met. Some have income maximums, counseling requirements, and/or residency requirements. It is important to pay attention to the specific requirements of the program before agreeing to participate.  Below are some of the programs you may be eligible for.  In addition you can click here for a resource guide to the steps that need to be taken to get a mortgage.

Greater Rochester Housing Partnership - The Greater Rochester Housing Partnership is a diverse group that supports the renovation and sales of single family low income housing to strengthen neighborhoods and stabilize property values. They are involved in the development, administration, and financing of properties in the Rochester Area.

Marketview Heights Association -The Marketview Heights Association offers Homebuyer education and counseling, foreclosure prevention services, and homeownership rehab services to individuals who currently own their own home, or wish to become homeowners.

Neighborworks Rochester - Neighborworks Rochester helps people invest in their own neighborhoods. They provide homeownership classes, strategic lending, and energy conservation.

SONYMA Products for First-Time Homebuyers – SONYMA (State of New York Mortgage Agency) offers five mortgage programs to assist first time home buyers with the purchase of their home.

Making Homes Affordable  - MHA programs are available to assist homeowners who need help with their mortgage. They provide information about refinancing, home loans, avoiding scams, and much more.

City of Rochester Home Purchase Assistance Program (HPAP) - The City of Rochester HPAP provides first time homebuyers with down payment assistance and closing cost assistance for homes purchased in the City of Rochester.

Federal Housing Administration (FHA)  - The FHA provides loans to help people become homeowners. The FHA is part of HUD, and insures loans so your lender can offer you a better deal. The FHA has programs for first time home buyers, seniors, and energy efficiency.

Individual Development Accounts (IDA) – An IDA is a matched savings account designed to help those of modest means establish a pattern of regular savings. They are designed to assist with costs associated with purchasing a home, further education, starting a small business, or further education or job training.

Home Rochester – This program allows low and moderate income families to purchase homes in the City of Rochester. Home Rochester is a partnership between the City of Rochester and the Greater Rochester Housing Partnership. 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 the home. Homebuyers are required to occupy the home for a minimum of 15 years to satisfy the terms of subsidies used to rehabilitate and underwrite the home.

Neighborhood Builders – Neighborhood Builders is a program run by the Greater Rochester Housing Partnership that builds new homes on vacant lots in the City of Rochester. Homes are sold to first-time homebuyers.

Employer Assisted Housing Initiative (EAHI) – Funds of designated employers are matched with City funds for closing costs for homes offered on the private market. There are no income limits however a Letter of Eligibility is required from the Employer. Click here to see what Rochester Area employers participate in this program.

Homebuyer Dream Program – The Homebuyer Dream Program offered by approved members of the Federal Home Loan Bank. The program provides homeownership assistance for up to $15,000 toward down payment and closing costs.  Click here to find out more about this program.

First time Homebuyer Programs - The Housing Council at Pathstone, Consumer Credit Counseling Services of Rochester and Marketview Heights Association all provide education and assistance to first time homebuyers.  Each program has different requirements.  Information can be found on the website using the links above.

How to Get a Mortgage – Once you have decided to purchase a home, and tapped into the resources to help you save your down payment, you will need to get approved for a mortgage.  Obtaining a mortgage is a process that can be overwhelming and can take time.  Check out this step by step guide to obtaining a mortgage.