ADK Gateway Homeownership Program

ADK Gateway Homeownership Program is a grant for homebuyers in Glens Falls, New York, administered by City of Glens Falls Office of Community Development. The ADK Gateway Homeownership Program, administered by the City of Glens Falls Office of Community Development with NYS HCR HOME Program and HUD CDBG funding, provides grant funds to help income-eligible first-time homebuyers cover down payment and closing costs to purchase a home in the City of Glens Falls or anywhere in Warren County. Funding is based on each buyer's financial need. Grant (no monthly payment) for down payment and closing costs, forgiven over up to 10 years. Paired with a conventional mortgage. HUD-certified credit counseling provided. Funding comes from NYS Division of Homes and Community Renewal (HOME Program / Housing Trust Fund) and HUD CDBG (Glens Falls is a CDBG entitlement community).

ADK Gateway Homeownership Program is structured as a grant, so it is not repaid. Repayment is triggered by Buyer must remain in the home as primary residence for up to 10 years after purchase, or a portion of the grant must be paid back to the City. Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

ADK Gateway Homeownership Program is open to first-time homebuyers and homebuyers who will live in the home as their primary residence. "First-time homebuyer" usually means not having owned a home in the last three years, but the program sets its own definition. On credit, the program states: No published minimum credit score; HUD-certified credit counseling required and a third-party credit report is pulled. A homebuyer education course is required, through HUD-certified credit counseling required (provided/arranged through the City's program). Citizenship or immigration status: U.S. Citizens and Resident Aliens (lawful permanent residents) only. Maximum grant amount not published (need-based). Must remain primary residence up to 10 years or partial recapture applies. Minimum 1% cash down payment from buyer. U.S. Citizen/Resident Alien only. Confirmed currently active via 2025 application packet on the City site.

ADK Gateway Homeownership Program limits household income to 80% of the area median income, which varies by county and household size. 80% of Area Median Income for the Glens Falls Metro Area, effective June 1, 2025. By household size: 1=$56,000; 2=$64,000; 3=$72,000; 4=$80,000; 5=$86,400; 6=$92,800; 7=$99,200; 8=$105,600. The limit applies to total household income, not only the borrower’s. The program lists a maximum household size of 8. Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

ADK Gateway Homeownership Program caps the purchase price at $231,000. Eligible property types include Single Family. New construction is eligible.

ADK Gateway Homeownership Program serves homebuyers purchasing in Glens Falls, New York.

Applications for ADK Gateway Homeownership Program go through City of Glens Falls Office of Community Development, which publishes the current terms and the application steps on its own site. Funds are reserved through Application submitted by mail to the Community Development Office; eligibility determined before purchase contract; assistance amount based on financial need. Hey Prescott is not a lender and does not accept applications; this page describes the program so a homebuyer can take it to a lender or housing counselor.