Binghamton First-Time Homebuyer Program

Administered by: City of Binghamton Housing Division · City · Forgivable Loan

Funding status: Active

How much assistance

Up to $10,000 (Forgivable Loan)

If the property is sold or transferred within 5 years, or is no longer the owner's principal residence, 100% of the loan becomes due. After 5 years, the loan is forgiven in full.

Eligibility

  • First-time buyer required: Yes — Must be a first-time homebuyer.
  • Geographic restrictions: Must purchase a home in the City of Binghamton, NY.
  • Homebuyer education required: Yes

How to Apply for Binghamton First-Time Homebuyer Program

Step 1: Complete the First Time Homebuyer pre-purchase education course through the Binghamton Homeownership Academy. Contact the City of Binghamton Housing Division to apply for the deferred loan. The Homeownership Academy partners include Metro Interfaith, Greater Opportunities, First Ward Action Council, Broome County Habitat for Humanity, and Community Potential Inc.

Visit program website

Notes

Deferred loan funded through HUD CDBG/HOME funds. The Binghamton Homeownership Academy serves as a one-stop shop connecting first-time and existing homeowners with local, state, and federal grants and resources.

Cities Where This Program Is Available