Purchase Rehab

220 Fellows

Working with the New York State Affordable Housing Corporation (AHC), Empire has secured funding that provides grants to income-eligible homebuyers, assisting them with the purchase and rehabilitation of single family and two family homes.

Since 1998, Empire has secured nearly $5 million for this program and leveraged more than $15 million in private dollars. Over 250 homes have been purchased and rehabilitated in neighborhoods throughout the City of Syracuse. This program has been replicated by Empire in other communities, working with local not-for-profit partners in Cortland, Chenango, and Broome Counties.

Eligible buyers with household incomes up to 112% of 80% of the areas median income are eligible to receive grant funds for the purchase and rehab of homes. Funds are available to eligible buyers on a sliding scale depending on income level in accordance with the following:

*Up to $3,000 per house is available for closing cost assistance for buyers earning up to 80% of median income through Home Headquarters.

*AHC Subsidy Amount: Single family homes are eligible for up to $20,000 while two family homes are eligible for $40,000

HHQ Closing Cost Assistance Eligibility

 

Adjusted Target Incomes 112% of HUD Low Income Limit

Family Size

80% of Median

Family Size

Income Limit

1

$37,950

1

$42,504

2

$43,350

2

$48,552

3

$48,750

3

$54,600

4

$54,150

4

$60,648

5

$58,500

5

$65,520

6

$62,850

6

$70,392

7

$67,150

7

$75,208

8

$71,500

8

$80,080