Eligible buyers must have a median family income below 80%, as outlined by the U.S. Department of Housing and Urban Development.
| Household Size | 80% Median Family Income (MFI) |
|---|---|
| 1 | $58,200 |
| 2 | $66,500 |
| 3 | $74,800 |
| 4 | $83,100 |
| 5 | $89,750 |
| 6 | $96,400 |
| 7 | $103,050 |
| 8 | $109,700 |
***gross income***
Buyers must contribute $1,500 of their own funds.
Buyers must qualify for a mortgage loan with eligible banks.
Buyers must attend pre-and post-purchase homebuyer training.
Program is compatible with most other grant programs, including City of Rochester Home Purchase Assistance Program, Ibero's Equitable Home Ownership Program, and Homebuyer Dream.
Buyers must agree to live in the home as their principal residence for at least 30 years. If the homeowner sells within that 30-year period, they must sell their home to another income-qualified owner-occupant who agrees to live in the home for the remainder of the 30 years.
A list of required documents that are used to determine eligibility will be included in the application.
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