Closing Cost Loan

Closing Cost Loan es un segundo préstamo diferido para compradores de vivienda en Rochester, New York. The Closing Cost Loan, offered through The Enterprise Center at PathStone, provides up to $5,000 in closing cost assistance to income-qualified first-time buyers purchasing a 1-2 family primary residence in PathStone's service area (primarily Monroe County / Rochester and surrounding counties). The assistance is structured as a 0% interest deferred forgivable second-lien loan with pro-rata forgiveness over a 5-year affordability period. Buyers must complete PathStone HUD-approved homebuyer education and one-on-one counseling. Up to $5,000 in closing cost assistance for income-qualified first-time buyers purchasing a primary residence in PathStone's service area (Rochester / Monroe County and surrounding upstate NY counties). Provided as a 0% interest deferred forgivable second-lien loan over a 5-year affordability period. Los fondos provienen de HOME, NYS HCR, NeighborWorks, Federal y State.

Closing Cost Loan se perdona después de 5 años, así que un comprador de vivienda que se quede ese tiempo no lo devuelve. El reembolso se activa por Pro-rata recapture of unforgiven balance if borrower sells, transfers, refinances with cash-out, rents, or vacates within 5 years. La ayuda se registra con un gravamen en posición 2. Los términos de condonación y reembolso los fija el programa y pueden cambiar; confírmalos en la página oficial del programa antes de presentar la solicitud.

Closing Cost Loan está abierto a compradores de vivienda por primera vez y compradores de vivienda que vivirán en la vivienda como su residencia principal. “Primera vez” tiene excepciones aquí: First-time buyer required; standard HUD exceptions for displaced homemakers and single parents apply. Sobre el crédito, el programa indica: No fixed minimum published; per first-mortgage product (typically 620+ conventional, 580+ FHA). Se requiere un curso de educación para compradores de vivienda, a través de The Enterprise Center at PathStone / PathStone Corporation (HUD-approved counseling agency); pre-purchase education and one-on-one counseling required. Requisito de residencia: Property must be located within PathStone's service area (primarily Monroe County / Rochester) and used as borrower's principal residence. Ciudadanía o situación migratoria: 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 PathStone's service area (primarily Monroe County and surrounding Rochester-area counties) and used as principal residence. Income generally between $85,500 (single-person) and $97,600 (4-person) at or below 80% AMI for Rochester MSA (HUD FY2025). Buyer must complete PathStone / Enterprise Center HUD-approved homebuyer education and one-on-one counseling. Property must pass HQS inspection. 0% interest deferred forgivable second-lien loan with pro-rata forgiveness over 5 years; due in full if borrower sells, transfers, refinances with cash-out, rents, or vacates within 5 years.

Closing Cost Loan limita el ingreso del hogar al 80% del ingreso mediano del área, que varía según el condado y el tamaño del hogar. Household income at or below 80% HUD AMI for Rochester MSA: ~$85,500 (single-person 80% threshold band) to $97,600 (4-person 80% threshold) per program guidelines (HUD FY2025). El límite se aplica al ingreso total del hogar, no solo al del prestatario. El programa indica un tamaño máximo de hogar de 8. Las cifras del ingreso mediano del área las publica HUD y se actualizan cada año, así que consulta la tabla vigente del condado antes de basarte en una cifra.

Closing Cost Loan limita el precio de compra así: Per HUD HOME 95% median-value rule for Rochester MSA. Los tipos de propiedad elegibles incluyen Single-family detached, 2-family owner-occupied y Condominium. La construcción nueva es elegible. Las viviendas prefabricadas no son elegibles.

Closing Cost Loan atiende a compradores de vivienda que compran en Rochester, New York.

Las solicitudes de Closing Cost Loan se tramitan a través de la agencia que administra el programa, que publica los términos vigentes y los pasos de la solicitud en su propio sitio. Los fondos se reservan a través de Apply via The Enterprise Center at PathStone after pre-purchase counseling completed and purchase contract executed; first-come, first-served subject to fund availability. Hey Prescott no es un prestamista y no acepta solicitudes; esta página describe el programa para que un comprador de vivienda pueda llevarlo a un prestamista o a un asesor de vivienda.