CHRIC / City of Dunkirk Down Payment and Closing Cost Assistance Program

CHRIC / City of Dunkirk Down Payment and Closing Cost Assistance Program is a forgivable loan for homebuyers in Dunkirk, New York, administered by Chautauqua Home Rehabilitation & Improvement Corporation (CHRIC). In partnership with the City of Dunkirk, CHRIC provides up to $3,400 in down payment and closing cost assistance to income-eligible first-time homebuyers purchasing an existing 1-2 family home in an LMI census tract within the City of Dunkirk. Assistance is provided as a forgivable grant with a 5-year lien placed on the property, funded by HUD CDBG. Funds are disbursed directly to the buyer's attorney at closing. Application is first-come, first-served. Up to $3,400 down payment and closing cost assistance. 5-year forgivable lien. Eligible for 1- and 2-family homes. First-come, first-served availability. HUD-certified housing counseling included. Funding comes from City of Dunkirk CDBG funds (HUD Community Development Block Grant).

CHRIC / City of Dunkirk Down Payment and Closing Cost Assistance Program offers up to $3,400 in assistance. The program can be combined with other assistance, subject to the rules of each. Amounts are the program's published maximums, not an offer — Chautauqua Home Rehabilitation & Improvement Corporation (CHRIC) determines any individual award.

CHRIC / City of Dunkirk Down Payment and Closing Cost Assistance Program is forgiven after 5 years, so a homebuyer who stays that long does not repay it. Repayment is triggered by Sale, transfer, or failure to occupy as primary residence within 5-year lien period. Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

CHRIC / City of Dunkirk Down Payment and Closing Cost Assistance Program is open to first-time homebuyers and homebuyers who will live in the home as their primary residence. "First-time" has exceptions here: Not owned a home in the three years prior to purchase. A homebuyer education course is required, through CHRIC 8-hour First Time Homebuyer Education Class (in-person or online via eHomeAmerica); Becoming a Landlord Class (required for multi-family purchases). Residency requirement: Property must be located in the City of Dunkirk within a 51%+ LMI Census Tract. Property must be in a 51%+ LMI Census Tract in City of Dunkirk; signed Purchase and Sales Agreement required at application; closing must be scheduled at least 15 days after approval letter; no cash-out to buyer at closing permitted; two-family buyers must complete Becoming a Landlord class; Closing Disclosure required post-closing.

CHRIC / City of Dunkirk Down Payment and Closing Cost Assistance Program limits household income to 80% of the area median income, which varies by county and household size. Household income at or below 80% of AMI; 1-person $49,600, 2-person $56,650, 3-person $63,750, 4-person $70,800, 5-person $76,500, 6-person $82,150, 7-person $87,800, and 8-person $93,500. 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.

CHRIC / City of Dunkirk Down Payment and Closing Cost Assistance Program can be used for Single Family and 2-4 Unit. New construction is not eligible. Manufactured homes are not eligible.

CHRIC / City of Dunkirk Down Payment and Closing Cost Assistance Program serves homebuyers purchasing in Dunkirk, New York.

Applications for CHRIC / City of Dunkirk Down Payment and Closing Cost Assistance Program go through Chautauqua Home Rehabilitation & Improvement Corporation (CHRIC), which publishes the current terms and the application steps on its own site. Funds are reserved through First-come, first-served. 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.