The South End Improvement Corporation has obtained funding from the NYS Homes and Community Renewal to purchase, rehab and sell 4 area single family homes to homebuyers over the next two years. SEIC will rehab the homes to meet NYS Codes and Housing Trust Fund Corporation Rehabilitation Standards. Up to $65,000 in renovation costs will be passed on, as a grant, to eligible homebuyers.
Potential homeowners are eligible if their household income is 80% or under the annual median income (AMI) for the Albany-Schenectady-Troy Metropolitan Area.
*As of April 1, 2018. These income guidelines change annually
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- Homebuyers must complete a HUD-Certified pre-purchase counseling program
- Buyers must acquire a mortgage for the cost of the home minus the rehab grant
- Buyers must use the home as their principal residence for 15 years
We are not currently accepting applications, as we are still purchasing and rehabbing properties.