Home HeadQuarters Syracuse Closing Cost Assistance
How much assistance
Up to $5,000 closing cost loan (up to $3,000 for homes in Onondaga, Oswego, Cayuga, Cortland, Madison, or Jefferson counties) (Zero-Interest Loan)
Loan at up to 6% simple interest, payable over 5 years. Borrowers below 80% AMI may qualify for 3% interest rate.
Eligibility
- Income limits: Borrowers below 80% of HUD median income (based on family size) qualify for reduced interest rate
- First-time buyer required: Yes — Must be a first-time homebuyer.
- Geographic restrictions: Closing cost loan available for homes located anywhere in New York State excluding New York City. Additional loans of up to $3,000 available for homes in Onondaga, Oswego, Cayuga, Cortland, Madison, or Jefferson counties.
- Homebuyer education required: Yes
How to Apply for Home HeadQuarters Syracuse Closing Cost Assistance
Step 1: Complete the Homebuyer Education Course through the HomeOwnership Center at Home HeadQuarters.
Step 2: Obtain a signed purchase offer.
Step 3: Provide at least $500 of your own funds toward the purchase.
Step 4: Secure a first mortgage with Home HeadQuarters, a bank, mortgage company, or credit union.
Step 5: Apply for the closing cost assistance loan.
Notes
Home HeadQuarters is a certified CDFI and NeighborWorks America affiliate based in Syracuse. They have facilitated more than 5,500 homebuyers and provided over $90 million in down payment assistance and first mortgage financing. They became a member of the Federal Home Loan Bank of New York in 2021.