INHS has been awarded a HOME Local grant through New York State Homes and Community Renewal totaling $250,000. Fifteen grants were distributed throughout NYS totaling $6,166,000 through the HOME Local Program.
The funds will allow INHS to serve low- and moderate-income first-time homebuyers with up to $20,000 in forgivable down payment and closing cost assistance in Chemung County, including the City of Elmira, Village and Town of Horseheads and Town of Big Flats. There is also a possibility of additional funds for health and safety improvements, and energy efficiency upgrades.
This 0% interest, $0 monthly down payment assistance is new to Chemung County, though INHS has consistently had low-interest down payment assistance available since 2015. INHS also provides HUD-certified Education and Counseling to help first-time home buyers prepare for homeownership.
“The need for safe, stable housing is more evident now than ever before. These funds will transform the lives of those who have always wanted to own a home, but lacked the financial resources necessary to purchase. We are honored to have received this grant and play a small role in turning people’s dreams into a reality,” said Executive Director of INHS Johanna Anderson.
In 2019, 86 households received down-payment assistance or closing cost loans through INHS within its service area, which includes Cayuga, Chemung, Cortland, Schuyler, Seneca, Tioga, and Tompkins Counties.
Loan officer at INHS, Patrick Mitchell, said of INHS’ roots in the area, “The support that’s been shown to INHS out of Chemung County over the years has been amazing. That’s why it brings us such joy to know that with this new program we’ll be able to make the dream of homeownership possible for many residents.” Contact Patrick at email@example.com or visit ithacanhs.org/homeownership to learn more about income eligibility requirements.