Closing Assistance Loans for First-Time Homebuyers
NHS of South Buffalo now offers Closing Assistance Loans for first-time homebuyers in the South District. The South Distract is defined as south of the Buffalo River, situated within the municipal boundaries.
Loans will be secured as a soft second mortgage with an interest rate of one percent.
Remain in the home until the assistance loan is repaid (60 months). If you move out of the home, you must pay the loan in full.
Invest at least two percent or $500 of your own funds (whichever is higher) for down payment.
Obtain an independent home inspection at buyer's expense.
Qualify for a mortgage loan with an approved financial institution (NO owner-held mortgages).
Take the agency's eight-hour Homebuyer Education course (see above for dates offered).
Please call 716. 823.3630 for more information