The Acquisition and Rehabilitation Program provides  home buyers with funding to apply toward down
payment and closing costs, as well as moderate rehabilitation of the home after closing.  The amount an
applicant may be awarded is determined by the cost of the home and the amount of rehabilitation that is
needed.
Eligibility requirements include:

  •        Income at or below 112% of the area median income as dictated by HUD
  •        Home to be purchased must be a pre-existing home located in Albany County, homes in the   
                    target  area will take precedence.      
  •        Home buyer must have $1,500 of their own savings
  •       Applicant must complete an approved home buyer education course (see Homebuyer Education    
              for more information
  •        Residency requirement of 10 years applies
  •      Applicants currently residing in mobile homes may be given priority.


  Please note: A Note and Mortgage will be required for the program listed above and a lien will be
  placed on the property for up to 10 years, unless otherwise specified.


           To apply for the Acquisition and Rehabilitation Program , you will need to download the forms below
       
HOME Down Payment Assistance: Provides down payment and closing cost assistance to first time home
buyers at or below 112% area median income. Home buyers must have $1,500 of their own savings and take
an approved home buyer educaiton class.  Residency requirement of 10 years applies.


Home buyers purchasing in the towns/villages of Berne, Coeymans, Green Island, Knox, New Scotland,
Rensselaerville, Westerlo, and the City of Cohoes will take precedence over homes purchased in other areas
of Albany County.

  Am I Ready for the Acquisition Rehab Grant
    Information Handout

Complete and return
   Acqusition Rehab Application     
Purchase Assistance Programs