To apply for Down Payment and Closing Cost Assistance through these programs you must go through the contact listed below.

ProgramFunding AvailabilityContact
Town of
Amherst
Deferred loan for needed closing costs.Amherst Community Development
716-631-7082
City of
Buffalo
Up to $5,000 for down payment and closing costs.Contact a Belmont Counselor to get more information.
716-884-7791
City of LockportUp to $19,000 for down payment and closing costs.Lockport Community Development
716-439-6686
Town of
Hamburg
$10,000 purchase reduction; forgivable after 10 years.Hamburg Community Development
716-648-6216
City of Niagara Falls$2,500 grant for closing costs.Niagara Falls Neighborhood Housing Services
716-285-7778
Town of TonawandaDeferred loan for needed closing costs.Tonawanda Community Development
716-871-8847 ext 2
Rural DevelopmentUSDA mortgages.585-343-9167 ext 2200

 

Matched Savings Programs

Belmont offers two programs to help income-qualified, first-time homebuyers save for a home. These programs match the money you save and give you free training in budgeting, credit management, saving, and banking.  For those who move onto homeownership, savings account holders will also receive individual guidance and homebuyer education.

First Home Club

Sponsored by the Federal Home Loan Bank of New York, the First Home Club (FHC) program is for first-time homebuyers who would like to save money towards the purchase of a home.

Participants save up to $1,875. Every $1 saved is matched with $4 for a total of $9,375 to be used for anything related to the purchase of a home: down payment closing costs, lawyer fees, inspection fees, etc.

To qualify: a household must be a first-time homebuyer and be within income guidelines for their household size. All participants must participate in an approved program of financial coaching and home-ownership counseling offered free of charge.

Individual Development Account Program – Currently at Capacity 

An IDA account is a special savings account for first-time homebuyers who would like to save money towards the purchase of a home. There is a waitlist right now for this program.

Participants save up to $1,000. Every $1 saved is matched with $4 for a total of $5,000 to be used for anything related to the purchase of a home: down payment, closing costs, lawyer fees, inspection fees, etc.

To qualify: a household must be a first-time homebuyer, have earned income, and be within income guidelines for their household size. Participants must complete financial and homebuyer education workshop series.

Free Tax Preparation

Every February, we offer free Tax preparation services at our 1195 Main Street office. We have completed our sessions for this year, but will share information regarding 2017 tax prep sessions once the schedule becomes available.