Homebuyer & Homeowner Resources
This program provides funding assistance for first time home purchasers within the City of Schenectady.
The program is called the "Second Mortgage Program" and provides the following to eligible applicants:
- A loan of up to 10% of the purchase price of a property to use toward down payment and/or closing costs
- An interest rate of 4% with a 5-year term
- 75% of the assistance will be converted into a grant if the purchaser resides in the property for 5 years
Applicants must meet federal income eligibility requirements and have a mortgage loan approval from a lender for at least 90% of the purchase price prior to application.
- Schenectady Housing Development Fund Corporation First Time Home Buyers Assistance Program Application and Guidelines (PDF).
Lead Safe Housing Program
The City of Schenectady’s Lead Safe Housing Program wants to make your house lead safe. The Lead Safe Housing Program gives qualified homeowners and landlords in the City of Schenectady free financial assistance to reduce and/or eliminate lead paint hazards in their properties,
Under the City of Schenectady’s Lead Safe Housing Program, you may be eligible to receive the following and more:
- New energy efficient doors
- New energy efficient windows
- Sheetrock and painting
- Vinyl siding
New York State Neighborhood Revitalization Program
The Neighborhood Revitalization Program offered through the State of New York Mortgage Agency (SONYMA), offers up to $20,000 in rehab incentives as well as downpayment assistance to potential buyers who wish to purchase vacant properties in the City of Schenectady. For more information on this program, please click here.