City of Kingston First-Time Homebuyer Grant

City of Kingston First-Time Homebuyer Grant is a forgivable loan for homebuyers in Kingston, New York, administered by RUPCO (NeighborWorks HomeOwnership Center) on behalf of the City of Kingston. RUPCO administers HUD funding from the City of Kingston's CDBG Entitlement Program to assist low-income first-time homebuyers purchasing residential homes in the City of Kingston with acquisition costs. Funding is provided as a soft-second, zero-interest deferred forgivable lien of up to $50,000; recipients must occupy the home as their primary residence for 10 years. Soft-second, zero-interest deferred forgivable lien up to $50,000 for acquisition costs. Funding comes from HUD CDBG via City of Kingston.

City of Kingston First-Time Homebuyer Grant offers up to $50,000 in assistance. Amounts are the program's published maximums, not an offer — RUPCO (NeighborWorks HomeOwnership Center) on behalf of the City of Kingston determines any individual award.

City of Kingston First-Time Homebuyer Grant is forgiven after 10 years, so a homebuyer who stays that long does not repay it. Repayment is triggered by Prorated repayment if not occupied as primary residence for 10 years. The assistance is recorded in subordinate position. Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

City of Kingston First-Time Homebuyer Grant 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. A homebuyer education course is required, through RUPCO (NeighborWorks HomeOwnership Center). Residency requirement: Home must be in the City of Kingston. Grant amounts determined by need and awarded by income band (not all eligible for maximum). Processing fees included in grant. Must secure an affordable primary loan for the balance and complete RUPCO counseling and homebuyer education. Manufactured homes and commercial properties not eligible.

City of Kingston First-Time Homebuyer Grant limits household income to 80% of the area median income, which varies by county and household size. Gross income all sources: 1=$62,550; 2=$71,500; 3=$80,450; 4=$89,350; 5=$96,500; 6=$103,650; 7=$110,800; 8=$117,950. 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.

City of Kingston First-Time Homebuyer Grant can be used for single_family, condo, and townhome. Manufactured homes are not eligible.

City of Kingston First-Time Homebuyer Grant serves homebuyers purchasing in Kingston, New York.

Applications for City of Kingston First-Time Homebuyer Grant go through RUPCO (NeighborWorks HomeOwnership Center) on behalf of the City of Kingston, which publishes the current terms and the application steps on its own site. 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.