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BCNI Homebuyer Assistance Program (Montgomery County)

Better Community Neighborhoods, Inc. (BCNI) · Amsterdam, New York

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Assistance

10%

Of the purchase price, as the program sets it

Income limit

80% AMI

Of area median income; varies by county and household size

Repayment

Forgivable

Forgiven after 5 years

What is BCNI Homebuyer Assistance Program (Montgomery County)?

BCNI Homebuyer Assistance Program (Montgomery County) is a forgivable loan for homebuyers in Amsterdam, New York, administered by Better Community Neighborhoods, Inc. (BCNI).

  • BCNI's Homebuyer Assistance Program provides down-payment and closing cost assistance to first-time homebuyers purchasing in Montgomery County (and the City of Schenectady) for up to 10% of the purchase price, with an average grant of approximately $9,000 depending on need and home location. Structured as a 0% forgivable grant prorated over a 5-year affordability period. Requires pre-purchase counseling.
  • Down payment and closing cost assistance up to 10% of purchase price (average ~$9,000).
  • Forgiven over 5 years if owner-occupancy maintained.
  • Funding comes from NYS Homes and Community Renewal (HCR) HOME funds administered by BCNI as Local Program Administrator; BCNI serves Montgomery County and the City of Schenectady.

How much assistance does it provide?

BCNI Homebuyer Assistance Program (Montgomery County) provides assistance worth 10% of the purchase price, as set by the program.

  • Amounts are the program's published maximums, not an offer — Better Community Neighborhoods, Inc. (BCNI) determines any individual award.

Do you have to pay it back?

BCNI Homebuyer Assistance Program (Montgomery County) is forgiven after 5 years, so a buyer who stays that long does not repay it.

  • Repayment is triggered by Pro-rated repayment (no interest) if the buyer sells, moves, or fails to occupy as primary residence during the 5-year affordability period.
  • Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

BCNI Homebuyer Assistance Program (Montgomery County) is open to first-time homebuyers and buyers who will live in the home as their primary residence.

The program requires

  • First-time homebuyer — the program sets its own definition
  • The home is occupied as a primary residence
  • A completed homebuyer education course, through Pre-purchase counseling from BCNI, or referral with verification from another HUD-certified Housing Counseling Agency
  • DRAFT (dpa-gap-finder 2026-06-13): pending review. LOAN TERM: 0% forgivable grant, up to 10% of purchase price (average ~$9,000), 5-year affordability period, pro-rated repayment with no interest if buyer sells/moves/ceases owner-occupancy within 5 years. ELIGIBILITY: first-time buyer; owner-occupant; HUD 80% AMI; mandatory pre-purchase counseling from BCNI or another HUD-certified agency. PROPERTY: standard condition; pass C/O inspection; visual lead assessment; home + asbestos inspection; located in Montgomery County. This entry captures the Montgomery County coverage of BCNI's program (City of Schenectady coverage already in catalog). GAP NOTES (blank): assistance min/max dollar, annual funding cap, max purchase price, min credit score, max DTI, min contribution, exact 2025 HUD 80% AMI 4-person dollar limit, max household size, application/term-sheet PDF. No separate Montgomery County / City of Amsterdam municipal DPA found; assistance delivered via BCNI.

The program excludes

  • Households above 80% of area median income

These are the program's own published rules, not a decision about any individual — the administering agency and a lender determine who actually qualifies.

What are the income limits?

BCNI Homebuyer Assistance Program (Montgomery County) limits household income to 80% of the area median income, which varies by county and household size.

  • HUD 80% area median income limits apply.
  • The limit applies to total household income, not only the borrower’s.
  • Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

What kind of home can it be used for?

BCNI Homebuyer Assistance Program (Montgomery County) can be used for Single Family and 2-4 Unit.

Where does it apply?

BCNI Homebuyer Assistance Program (Montgomery County) serves buyers purchasing in Amsterdam, New York.

How do you apply?

Applications for BCNI Homebuyer Assistance Program (Montgomery County) go through Better Community Neighborhoods, Inc. (BCNI), which publishes the current terms and the application steps on its own site.

  1. Take a homebuyer education course

    Required by the program, through Pre-purchase counseling from BCNI, or referral with verification from another HUD-certified Housing Counseling Agency.

  2. Contact Better Community Neighborhoods, Inc. (BCNI) to reserve funds

    Funds are reserved with the provider and are subject to availability.

  3. Work with a lender who handles the program

    Hey Prescott is not a lender and does not accept applications; this page describes the program so a buyer can take it to a lender or housing counselor.

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BCNI Homebuyer Assistance Program (Montgomery County), explained

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