TRIP HomeOwnership Center Down Payment Assistance

Administered by: Troy Rehabilitation and Improvement Program (TRIP) · City · Grant

Funding status: Active

How much assistance

$25,000 to $30,000 (Grant)

Subject to 10-year grant enforcement lien. If property is sold or transferred within 10 years, repayment may be required.

Eligibility

  • Income limits: Annual household taxable income under 80% of HUD Area Median Income
  • First-time buyer required: Yes — Must not have owned a home in the past 3 years.
  • Geographic restrictions: Property must be located within the City of Troy. Must be 1 or 2 units and owner-occupied. Purchase price must not exceed 95% of the median purchase price for the Capital Region as defined by HUD.
  • Homebuyer education required: Yes

How to Apply for TRIP HomeOwnership Center Down Payment Assistance

Step 1: Contact TRIP NeighborWorks HomeOwnership Center at 518-690-0020. Must show minimum $1,500 in savings untouched for 3 consecutive months at time of application. Must complete Pre-Purchase Program before applying. Cannot have a purchase contract on a home at time of application.

Visit program website

Notes

Funded by federal HOME funds administered through the City of Troy.

Cities Where This Program Is Available