RUPCO/RDAC Orange County First-Time Homebuyer Grant

RUPCO/RDAC Orange County First-Time Homebuyer Grant is a forgivable loan for homebuyers in Walden, New York, administered by Orange County Rural Development Advisory Corporation (RDAC) / RUPCO. RUPCO and its Orange County subsidiary RDAC administer an NYS AHC grant for first-time homebuyers purchasing in Orange County, NY. Provides up to $40,000 to assist with down payment, closing costs, and post-purchase home repairs. Provided as a zero-interest deferred forgivable soft second lien requiring 10-year owner-occupancy. Grant amounts tiered by income band; 50% of award must be used for home repairs. Up to $40,000 grant. Covers down payment, closing costs, and repairs. Zero-interest forgivable soft second. 10-year occupancy required for full forgiveness. RUPCO HUD-certified counseling included. Funding comes from NYS Affordable Housing Corporation (AHC) via NYS Office of Homes and Community Renewal.

RUPCO/RDAC Orange County First-Time Homebuyer Grant offers up to $40,000 in assistance. Award tiers: Grant amounts determined by need and income bands; not all eligible for maximum $40,000. The program can be combined with other assistance, subject to the rules of each. Amounts are the program's published maximums, not an offer — Orange County Rural Development Advisory Corporation (RDAC) / RUPCO determines any individual award.

RUPCO/RDAC Orange County First-Time Homebuyer Grant is forgiven after 10 years, so a homebuyer who stays that long does not repay it. Repayment is triggered by Failure to occupy as primary residence for 10 years; sale or transfer of property during lien period. The assistance is recorded in second position. Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

RUPCO/RDAC Orange 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. On credit, the program states: Credit review provided by RUPCO counselor. A homebuyer education course is required, through RUPCO NeighborWorks Homeownership Center HUD-certified counselors. Residency requirement: Purchase within Orange County, NY. 50% of grant awarded must be used on home repairs. Processing fees included in grant. Grant amounts determined by need and income band; not all applicants receive maximum. Must secure affordable primary mortgage. Verify fund availability with RDAC before relying on this program. Program page last modified April 2024.

RUPCO/RDAC Orange County First-Time Homebuyer Grant limits household income to $158,032. 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.

RUPCO/RDAC Orange County First-Time Homebuyer Grant can be used for Single Family, Condo, and Townhouse. Manufactured homes are not eligible.

RUPCO/RDAC Orange County First-Time Homebuyer Grant serves homebuyers purchasing in Walden, New York.

Applications for RUPCO/RDAC Orange County First-Time Homebuyer Grant go through Orange County Rural Development Advisory Corporation (RDAC) / RUPCO, 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.