NYS AHC Ulster County First-Time Homebuyer Grant

NYS AHC Ulster County First-Time Homebuyer Grant is a forgivable loan for homebuyers in Kingston, New York, administered by RUPCO, Inc. (NeighborWorks HomeOwnership Center). RUPCO administers the NYS Affordable Housing Corporation (AHC) First-Time Homebuyer Grant in Ulster County, providing up to $75,000 in forgivable assistance (soft second, 0%, deferred) for closing costs, down payment, and required moderate post-closing repairs. Grant amount is tiered by household income and home type, with corresponding 10-, 20-, or 60+ year deed restrictions. Buyers contribute at least 1% of the purchase price and keep the post-grant housing ratio below 33%. Up to $75,000 toward down payment, closing costs, and repairs. 0% interest, forgivable. Funding comes from New York State Affordable Housing Corporation (AHC).

NYS AHC Ulster County First-Time Homebuyer Grant offers between $25,000 and $75,000 in assistance. Award tiers: Grant tier tied to income and home type: up to $75,000 (60+ yr restriction over $65,000); up to $60,000 (20-yr); up to $50,000 (20-yr); up to $40,000 (10-yr); up to $32,000 (10-yr); up to $25,000 (10-yr). Higher grant = lower income limit. Homebuyer contribution: Buyers must contribute at least 1% of the purchase price from own funds. The program can be combined with other assistance, subject to the rules of each. Amounts are the program's published maximums, not an offer — RUPCO, Inc. (NeighborWorks HomeOwnership Center) determines any individual award.

NYS AHC Ulster County First-Time Homebuyer Grant is forgiven after 20 years, so a homebuyer who stays that long does not repay it. Repayment is triggered by Sale, transfer, or cessation of owner-occupancy / use as rental during the deed-restriction term; soft forgivable 0% deferred loan secured by lien. The assistance is recorded in Subordinate (second) position. Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

NYS AHC Ulster County 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 HomeOwnership Center (NeighborWorks); information sessions and counseling required. Residency requirement: Occupy the Ulster County home as primary residence for the deed-restriction term (10, 20, or 60+ years); no rental use during the term. Repairs are a key requirement (>=51% of grant); income-tier deed restrictions apply; no reimbursements (funds at/after closing).

NYS AHC Ulster County First-Time Homebuyer Grant sets its income limit as follows: Household gross income limits (updated 9/16/25) by tier and size. $75,000 tier (1-8): $50,325-$94,912. $50,000 tier: $67,100-$126,550. $40,000 tier: $75,487-$142,368. $32,000 tier: $92,262-$174,005. $25,000 tier: $110,715-$208,806. 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.

NYS AHC Ulster County First-Time Homebuyer Grant can be used for Single Family. New construction is not eligible.

NYS AHC Ulster County First-Time Homebuyer Grant serves homebuyers purchasing in Kingston, New York.

Applications for NYS AHC Ulster County First-Time Homebuyer Grant go through RUPCO, Inc. (NeighborWorks HomeOwnership Center), 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.