ALBANY COUNTY RURAL HOUSING ALLIANCE, INC.
                                                                                       2012 Programs
                                                                             (Throughout Albany County)

     AHC 60/40 Grant - New York State Affordable Housing Corporation’s 60/40 grant for home repairs.   
    Income at or below 112% of the area  median income limits. Eligible homeowners must own and reside in
    the property to be repaired and be current with mortgage, taxes, and insurance. Grant will pay for 60% of the
    repair costs. The other 40% can come from homeowner’s funds, private loans, the ACRHA Revolving Loan,
    USDA 504 loan/grant program for rural properties or other programs when available.

    Revolving Loan Fund - Up to $5,000 interest free loan from 0 to 10 years to assist low-income homeowners
    with necessary home repairs. Housing Counseling and the execution of a Note & Mortgage is required.
    $150.00 loan application fee.

          RESTORE Provides emergency home repairs in owned and occupied by homeowners at least           
          60 years of age and residing in Albany County (outside City of Albany) RESTORE assists
          homeowners at or below 80% area median income including a 3 year residency requirement.

    HOME Program - Funding provided by the New York State Housing Trust Fund Corporation. A grant for
    home repairs on single-unit houses for very low-income homeowners. Nominal homeowner contribution
    toward cost of repairs may be required. Eligible homeowners must own and reside in the property to be
    repaired and be current with mortgage, taxes, and insurance. Income eligible at or below 50% of the federal
    median income limits . Note and Mortgage required.

    USDA 504 Loan/Grant- For specific rural geographic locations as stipulated by the USDA Rural
    Development.  Loans up  to $20,000 at 1% interest with term of 20 years.These home repair loans
    are available to 50% of median income applicants as a grant if the homeowner is 62 years of age or older
    and cannot afford the loan.  Grants are up to $7, 500.  A combination loan/grant may be made if the applicant
    is able to repay only part of the total cost of needed repairs. 3-year residency requirement after repairs are
    completed.
                   



*These programs are grant programs and are based on availability of funds. Please check on availability of funds
for program.
To apply for any Home Repair Program, you will need to fill out the application and
return it to the main office.



Home Repair Program Application
2012 Income Limits