PathStone Enterprise Center Closing Cost Loan

PathStone Enterprise Center Closing Cost Loan is a repayable second loan for homebuyers in Rochester, New York, administered by The Enterprise Center at PathStone. The Enterprise Center at PathStone, a CDFI affiliate of PathStone Corporation, offers a repayable Closing Cost Loan of $2,000-$10,000 to homebuyers in the Rochester/Finger Lakes region of New York who need to bridge a closing cost gap. The loan carries an interest rate matching the buyer's first mortgage rate, with a 1-5 year repayment term. Homebuyer education through a HUD-approved agency is required. The program is available without a stated income limit. $2,000-$10,000 closing cost loan. No stated income limit. 1-5 year repayment term. Interest rate matches first mortgage rate. Bilingual staff support available. Funding comes from PathStone Enterprise Center (CDFI lending; supported in part by federal, state, and local government grants).

PathStone Enterprise Center Closing Cost Loan offers between $2,000 and $10,000 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 — The Enterprise Center at PathStone determines any individual award.

PathStone Enterprise Center Closing Cost Loan is a repayable second loan and is repaid under the terms set by The Enterprise Center at PathStone. Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

PathStone Enterprise Center Closing Cost Loan is open to homebuyers who will live in the home as their primary residence. On credit, the program states: Credit report with 3 trade lines paid on time 12 months (or alternative credit sources); scores 680 or below trigger additional review. A homebuyer education course is required, through Any HUD-approved homebuyer education agency; PathStone online homebuyer education via eHomeAmerica. Residency requirement: Property must be in Rochester/Finger Lakes region of New York State (Western NY). Homebuyer education certificate required; credit report must show 3 trade lines paid on time for 12+ months or alternative credit sources; federal tax returns and W-2s for past 2 years required; Verification of Employment; Purchase Offer required; bank commitment letter required.

PathStone Enterprise Center Closing Cost Loan sets its income limit as follows: No stated income limit in published program materials (open to moderate-income buyers bridging a closing cost gap). Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

PathStone Enterprise Center Closing Cost Loan can be used for Single Family.

PathStone Enterprise Center Closing Cost Loan serves homebuyers purchasing in Rochester, New York.

Applications for PathStone Enterprise Center Closing Cost Loan go through The Enterprise Center at PathStone, which publishes the current terms and the application steps on its own site. Funds are reserved through Contact loan officer to begin. 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.