Repayable second loan
City of Schenectady H.O.M.E.S. Second Mortgage Program
First-time homebuyers · Income limits · Single Family · 2-4 Unit
Down payment assistance · Schenectady County
Buying a home in Schenectady, NY
2 Schenectady programs and 3 statewide.Schenectady has 2 programs of its own, and 3 statewide. Here is what each one offers, what the local market looks like, and who near you can walk you through it.
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Schenectady’s own programs
Forgivable loan
BCNI Homebuyer Assistance Program (Downpayment Assistance)
First-time homebuyers · Income limits · Single Family · 2-4 Unit
The Schenectady marketThe Schenectady housing market
Kinds of homes hereWhat’s for sale here, and what the programs accept
Kinds of homes in Schenectady
- 39.1% single-familysingle-family
- 2.8% townhousetownhouse
- 38.8% 2–4 units2–4 units
- 18.8% 5+ unitscondo & apartment buildings (5+ units)
- 0.4% mobile & othermobile home & other
About condos. None of Schenectady’s 2 local and county programs list condos as eligible. City of Schenectady H.O.M.E.S. Second Mortgage Program lists single family and 2-4 unit. BCNI Homebuyer Assistance Program (Downpayment Assistance) lists single family and 2-4 unit.
U.S. Census Bureau, American Community Survey 2024 5-year (2020–2024). Table B25024.
When Schenectady’s homes were built
pre-19401970s2020+
85.4%
of Schenectady homes were built before 1980. Pre-1978 homes come with a federal lead-paint disclosure.of homes were built before 1980. A home built before 1978 comes with a federal lead-paint disclosure, and some programs require an inspection.
U.S. Census Bureau, American Community Survey 2024 5-year (2020–2024). Table B25034.
$123,100
County area median income, 4 people (HUD)HUD area median income, Schenectady County, 4-person household (2026)
$58,399
Schenectady median household incomeMedian household income in Schenectady (Census, 2024)
11 of the 67 programs here set their income limit as a share of Schenectady County’s area median income, adjusted for household size. See the published limits for Schenectady County
Free help nearbyFree help near Schenectady
5 HUD-approved counseling agencies within 15 miles5 HUD-approved housing counseling agencies within 15 miles
2 programs here ask for a homebuyer class first. Create a free account to see who’s near you and pick one.All 2 local programs here ask for a homebuyer class. A HUD-approved counselor teaches it and can walk you through your options. Create a free account to see who’s near you and pick one.
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Across New York and nationwide
65 statewide & federal programs3 statewide programs, plus federal options
Schenectady questions
Does Schenectady have its own down payment program?
Yes, 2: City of Schenectady H.O.M.E.S. Second Mortgage Program and BCNI Homebuyer Assistance Program (Downpayment Assistance). Each is for homes inside Schenectady.
Can I use assistance on a condo in Schenectady?
None of Schenectady’s 2 local and county programs list condos as eligible. City of Schenectady H.O.M.E.S. Second Mortgage Program lists single family and 2-4 unit. BCNI Homebuyer Assistance Program (Downpayment Assistance) lists single family and 2-4 unit. Each program’s page lists the kinds of homes it accepts, and the agency confirms it for the home you choose.
What is the income limit in Schenectady County?
Each program sets its own. 11 of the programs here set theirs as a share of HUD’s area median income for Schenectady County, adjusted for household size. HUD publishes the median each year; the 2026 figure is shown above and on the published limits page.
Where can I take a homebuyer class near Schenectady?
HUD-approved housing counseling agencies teach homebuyer classes, and 5 agencies are within 15 miles of Schenectady. Create a free account and take the 90-second match to see the ones near you.
ZIP codes
12301 · 12302 · 12303 · 12304 · 12305 · 12306 · 12307 · 12308 · 12309 · 12325 · 12345
Nearby in Schenectady
Sources
Sources: agency sites (July–September 2026), Census ACS 2024 5-year, HUD FY2026, HUD counseling list. Hey Prescott is not a lender.Programs: Hey Prescott catalog of 2,000+ programs, each verified with its agency (July–September 2026). Market: U.S. Census Bureau, American Community Survey 2024 5-year (2020–2024). Income: HUD FY2026 income limits. Counselors: HUD list of approved housing counseling agencies. Hey Prescott is not a lender.