Troy Homebuyer Incentive Program (HIP)

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

Funding status: Active

How much assistance

$15,000 to $20,000 (Grant)

Subject to 10-year grant enforcement lien.

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 area median purchase price.
  • Homebuyer education required: Yes

How to Apply for Troy Homebuyer Incentive Program (HIP)

Step 1: Contact TRIP NeighborWorks HomeOwnership Center at 518-690-0020. Must show minimum $1,500 in savings at time of application. Must complete Pre-Purchase Program before applying. Property will be inspected for code compliance and lead-based paint hazard.

Visit program website

Notes

Designed specifically to promote homeownership in Troy for low-income homebuyers.

Cities Where This Program Is Available