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Foreclosure prevention services
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Capital Housing Assistance
Program

Program:
Applicant Eligibility:
 | Qualify as a first time home buyer. |
 | Income eligibility:
 | For household of 1-2, income less than $35,300.
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 | For household of 3 or more, income less than
$40,595. |
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 | Mortgage qualified. Provide evidence of loan
pre-approval for a
fixed rate loan at current market rates. Adjustable rate mortgages
and loans from finance companies not accepted. |
Property Eligibility:
 | Home to be purchased located within city limits of Albany,
Schenectady or
Troy. |
 | 1-4 Unit residential property. |
Process:
 | Complete a Registration Form.
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 | Meet with housing counselor to confirm eligibility.
See list of organizations below. |
 | Attend free home purchase workshops. |
 | Obtain lender pre-qualification. |
 | Receive notice to proceed, allowing 90 days to find a
home.
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Product Features:
 | Five year forgivable loan. |
 | Secured by a mortgage. |
 | Funded by the Federal Home Loan Bank
of NY. |
 | Cannot be combined with
IDA/First Home Club/Mortgage Match program. |
 | Can be combined with sources such as HSBC’s
SHOP-Capital program. |
Counseling Agencies:

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