PROGRAMS / FIRST-TIME HOMEBUYERS

Overview of Homebuying Services and Grant Programs

 

Our homeownership program offers a variety of free services. We are a not-for-profit organization approved by Housing Urban Development (HUD). A counselor works with you every step of the way till closing. Our services are outlined below:

 

FIRST STEP! Homebuyer Orientation Workshop (120 minute session) Overview of the homebuying process. Review how income, savings and your debt affect your ability to purchase. Discuss housing options: 1-4 family, condos and co-ops. Provide referrals of reputable professionals. Review of grants for down payment, closing coast assistance and various mortgage products for first time homebuyers are discussed. Click here for the Homebuyer Intake Form. - (pdf) Click here to register for Workshops.

One-on-One Homeownership Counseling - MEET WITH A COUNSELOR!
(45-60 minute session)
Analysis of personal finances, including income, savings and debts. Assessment and opportunity for Q&A on topics such as housing options, recommendations of reputable real estate professionals and review of eligibility for grant assistance. Review of credit reports and basic budget counseling is also provided to assist you with creating a comprehensive plan to help you get you on the right track towards your goal of homeownership.

 

*Attendance to the homebuyer orientation workshop is REQUIRED before meeting 1:1 with a housing counselor.

 

Income Verification for the Purchase of a Fair and Affordable Housing Development
WRO provides assistant with verification and qualifying of an individual interested in the purchase of any designated affordable housing property.  Click here to find homes for SALE!

 

Credit & Budget Counseling
(45-60 minute session)
Assessment of credit report and a step by step process on how to address credit issues is provided. WRO also helps you create a monthly spending budget; and refer you to legitimate credit counseling agencies and/or bankruptcy attorneys, if needed. Counselors can meet with clients quarterly to help track progress.

Homebuying Educational Program

(4 session workshop series)
Hear professionals speak about what they do, and the overall process when working with real estate agents, attorneys, home inspectors, and lenders. Learn what happens from finding your home to the closing. Certificates of competition are provided. Enrollment and deposit is required to attend workshops. Currently enrolling for Spring 2012 Classes.

 

*WRO has adopted the National Industry Standards for Homeownership Education and Counseling  (Click here to learn more)

 

Interested in finding out more about Fair and Affordable Homes in Westchester?

(Click here for the Ownership Interest Form)

 

Down Payment and Closing Cost Assistance Programs: *Learn more details about these programs by attending a "Homebuying Orientation Workshop". NOTE: ALL GRANT PROGRAMS REQUIRE COMPLETION OF HOMEBUYER EDUCATION
First Home Club Savers Program	Qualify for a $7,500 Grant. Must participate in a match savings program.
American Dream Downpayment Initiative (ADDI)	Qualify for downpayment assistance in the amount of 3% of the anticipated purchase price or $10,000 whichever is less. This grant is restricted to properties located in Yonkers
Homeownership Voucher Choice Program	Qualify for continued HAP assistance towards your mortgage payments when purchasing your first home for the duration of 15 years. (Section 8 voucher REQUIRED)
DHCR Grant	Qualify for up to $30,000 for downpayment and/or closing cost assistance.
SONYMA's Down Payment Assistant Loan Program	Qualify for a SONYMA loan? If yes, then you also qualify for the downpayment program. Receive 3% of the purchase price or $15,000, whichever is greater.
The Affordable Product	Qualify for $3,000 - $6,000 in closing cost assistance
Ask Us About:   Grant/Loan Programs for Connecticut
SMART MOVE LOAN	Down payment loan assistance up to 20% of the purchase price. Fixed rate of 3% for 20 years. 1% down of own funds required.
WORKFORCE LOAN	Borrower must live in the city/town of full time employment. Assistance for closing costs. 0% interest rate with no monthly payment. Repay or transfer funds when you sell the property.

 

Please call for an appointment Phone: (914) 428-4507 x324 Fax: (914) 428-9455 E-mail: Homebuying@wroinc.org