No application will be processed until all necessary, required documents for the program are submitted to the Office of Strategic Planning Division of Housing staff.
Funding will be provided as a deferred payment, zero percent interest (0%) loan/conditional grant of up to $5,000.00. If the purchaser resides in the home for the full five-year term of the loan, the loan will be forgiven and no repayment is required. The assistance will be available to income-eligible homebuyers obtaining mortgage financing for the purchase of a home. The property to be purchased must be located within the legal limits of the City of Buffalo.
Type of Property: The home to be purchased must be a single family owner-occupied home, situated on a parcel of land to be owned and occupied by the purchaser
Condition of Property: The property to be purchased must be in good condition, not in need of repairs and should be in compliance with both federal Housing Quality Standards and City of Buffalo Housing Codes. Any lead based paint hazards must be addressed by the seller and a clearance test must be completed to ensure compliance with applicable federal requirements.
Property Value: Pursuant to federal regulations at 24 CFR § 92.254, the appraised value of the property to be purchased cannot exceed the FHA 203(b) mortgage limit for an existing one-family house in the Buffalo area. The property value limit for 2016 per the applicable regulations is $140,000 (one-family).
Location: The property to be purchased must be located:
Lt. Col. Matt Urban Center - 1081 Broadway Buffalo NY 14212 716-893-7222
Old First Ward Community Association - 62 Republic Street Buffalo, NY 14214 716-856-8613
Fillmore Leroy Area Residents Inc. (FLARE) – 2495 Main Street Suite 412 Buffalo NY 14214 716-838-6740
Heart of the City Neighborhoods Inc.- 191 North Street Suite 1 – Buffalo NY 14201 716-882-7661
West Side Neighborhood Housing Services - 359 Connecticut Street Buffalo NY 14213 716-885-2344