To apply for Down Payment and Closing Cost Assistance through these programs you must go through the contact listed below.
|Deferred loan for needed closing costs.||Amherst Community Development
|Up to $5,000 for down payment and closing costs.||Contact a Belmont Counselor to get more information.
|City of Lockport||Up to $19,000 for down payment and closing costs.||Lockport Community Development
|$10,000 purchase reduction; forgivable after 10 years.||Hamburg Community Development
|City of Niagara Falls||$2,500 grant for closing costs.||Niagara Falls Neighborhood Housing Services
|Town of Tonawanda||Deferred loan for needed closing costs.||Tonawanda Community Development
716-871-8847 ext 2
|Rural Development||USDA 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 – limited funding for 2018
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.
Please Note: Funding for this program was very limited for 2018. Most banks/credit unions are out of funds for this year. For more information, please contact Tracie.
Individual Development Account Program – Currently, there are no accounts available
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.