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Madison County Down Payment Assistance + Rehabilitation Grant

Madison County, New York

Last verified
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Income limit

120% AMI

Of area median income; varies by county and household size

Repayment

Grant

Not repaid

What is Madison County Down Payment Assistance + Rehabilitation Grant?

Madison County Down Payment Assistance + Rehabilitation Grant is a grant for homebuyers in Madison County, New York.

  • The Madison County Down Payment Assistance + Rehabilitation Grant Program, administered by the Homeownership Center, Inc. (HOC), provides up to $40,000 in combined DPA, closing cost, and rehabilitation grant funding to income-qualified first-time buyers purchasing a 1-2 family primary residence in Madison County. Funded by NYS HCR Affordable Home Ownership Development Program (AHODP) and HUD HOME, the grant covers down payment, closing costs, and identified rehabilitation work needed to bring the property up to HQS-equivalent standards. The grant is forgivable over a 10-year affordability period with pro-rata recapture if owner-occupancy is lost.
  • Combined down payment, closing cost, and rehabilitation grant of up to $40,000 (typically split between DPA portion and rehab portion) for income-qualified first-time buyers purchasing a primary residence in Madison County. Funded by NYS HCR Affordable Home Ownership Development Program (AHODP) and HUD HOME via the Homeownership Center, Inc. Provided as a forgivable grant subject to a 10-year affordability period.
  • Funding comes from HOME, NYS HCR, AHODP, Federal, and State.

Do you have to pay it back?

Madison County Down Payment Assistance + Rehabilitation Grant is structured as a grant, so it is not repaid.

  • Repayment is triggered by Pro-rata recapture of unforgiven balance if borrower sells, transfers, refinances with cash-out, rents, or vacates within 10 years.
  • The assistance is recorded in 2 position.
  • Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

Madison County Down Payment Assistance + Rehabilitation Grant is open to first-time homebuyers and buyers who will live in the home as their primary residence.

The program requires

  • First-time homebuyer — with exceptions: First-time buyer required; standard HUD exceptions for displaced homemakers and single parents apply.
  • The home is occupied as a primary residence
  • On credit: No fixed minimum published; per first-mortgage product (typically 620+ conventional, 580+ FHA)
  • A completed homebuyer education course, through Homeownership Center, Inc. (HUD-approved counseling agency); pre-purchase education and one-on-one counseling required.
  • Residency: Property must be located within Madison County and used as borrower's principal residence.
  • Citizenship or immigration status: U.S. citizen or eligible non-citizen per HUD HOME and first-mortgage rules
  • First-time buyer required (no homeownership in past 3 years). Property must be a 1-2 family home located within Madison County and used as principal residence. Income at or below 120% AMI: 1-person ~$55,800 to 4-person ~$128,700 (HUD FY2025; higher 120% threshold reflects NYS AHODP eligibility). Buyer must complete HOC's HUD-approved homebuyer education and one-on-one counseling. Property must undergo HQS-equivalent inspection and identified rehab work must be completed by approved contractors. Combined DPA + rehab grant subject to 10-year affordability period; pro-rata recapture if home is sold, transferred, refinanced with cash-out, or no longer owner-occupied within 10 years.

The program excludes

  • Households above 120% 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?

Madison County Down Payment Assistance + Rehabilitation Grant limits household income to 120% of the area median income, which varies by county and household size.

  • Household income at or below 120% HUD AMI for Madison County (Syracuse MSA): 1-person ~$55,800 to 4-person ~$128,700 (HUD FY2025; NYS AHODP threshold).
  • 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.

What kind of home can it be used for?

Madison County Down Payment Assistance + Rehabilitation Grant caps the purchase price as follows: Per HUD HOME 95% median-value rule and NYS AHODP guidelines for Madison County.

  • Eligible property types include Single-family detached, 2-family owner-occupied, and Manufactured home (on owned land).
  • New construction is eligible.
  • Manufactured homes are eligible.

Where does it apply?

Madison County Down Payment Assistance + Rehabilitation Grant serves buyers purchasing in Madison County, New York.

How do you apply?

Applications for Madison County Down Payment Assistance + Rehabilitation Grant go through the administering agency, which publishes the current terms and the application steps on its own site.

  1. Take a homebuyer education course

    Required by the program, through Homeownership Center, Inc. (HUD-approved counseling agency); pre-purchase education and one-on-one counseling required..

  2. Contact the administering agency to reserve funds

    Funds are reserved through Apply via Homeownership Center after pre-purchase counseling completed and purchase contract executed; first-come, first-served subject to fund availability., 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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