Home Financing, Grants & Programs

For a list of Central New York mortgage companies and banks click here.

Tax Incentives for Home Ownership

Click here for more information

Home Ownership Grants & Programs

University Neighborhood Home Buyer Assistance Program - Based on the availability of funds, the Homebuyer Assistance Program will now offer grants of $4,500 for properties located closest to Syracuse University and Thornden Park, and $2,500 for properties in the general vicinity of Westcott Street. Grants of $1,500 will be available for purchase of homes in the remainder of the UNPA neighborhood. There are no income requirements for applicants, and funds are awarded as deferred loans, meaning there is no pay-back requirement if the buyer remains an owner-occupant of the property for at least 10 years.

Tax Credit for First Time Home Buyes & Renters - Purchasers can earn as much as $8,000 tax credit. Anyone who's been sitting on the sidelines hesitant to jump into the housing market until conditions settle down should know these dates: January 1, 2009, through November 30, 2009.

First Time Home Buyer Grand for Southern Onondoga County Grants of $20,000 for eligible First time homebuyers toward the purchase of a home in southern Onondaga County.

Syracuse University Home Ownership Grant Program -Syracuse University has partnered with Home HeadQuarters to offer a home-buyer assistance program for faculty and staff purchasing homes within designated areas of the City of Syracuse called "Matching Cash Grant Zones."

Down Payment & Closing Cost Assistance - Home HeadQuarters offers loans of up to $3,000 in the City of Syracuse and $2,500 in Onondaga County for down payment and closing costs to qualified first-time homebuyers who want to buy a home.

Home Value Protection Program If you are like most homeowners, you're counting on your home to hold it's value when you resell it. However, in a soft market there are no assurances that housing values will be up when you chose to sell your home. Home HeadQuarters believes that you should never have to gamble with your future and that is why Home Value Protection (HVP) was created.

Syracuse Home Improvement Grants and Financing

Southern Onondaga County Home Improvement Program Eligible homeowners may receive grants for necessary home repairs. Grant sources and amounts depend on the income of the home owner. Homeowners must have lived in the home for at least one year and be income eligible.

RESTORE Emergency repair grants are available for homeowners in southern Onondaga County who are 60 years and over whose income is at 50% or below median income.

University Neighborhood Home Improvement Loan An affordable way to quickly access the money you need to make exterior home renovations and repairs ... even if you have built little or no equity in your home. Financing up to $10,000.

All of the below programs are offered through the Syracuse Nieghborhood Initiative. For more information and the application of any of these programs click here.

Westcott Neighborhood Home Improvement Loan

Loans for exterior home improvement of up to $20,000 for a term of up to 15 years at a 4.99% interest rate. Homeowner must live in home for the term of the loan or 5 years, whichever is more. Anyone can apply regardless of income level. Must be current on property taxes and water bills and must have homeowners insurance. Federal Lead requirements apply. This is a revolving loan fund which means that these funds will stay in this neighborhood in perpetuity. The availability of these funds is dependent upon current use and payback.

Tipperary Hill Neighborhood Home Improvement Loan

Loans for exterior home improvement of up to $10,000 for a term of up to 7 years at a 3% interest rate. Homeowner must live in home for the term of the loan. Anyone can apply regardless of income level. Must be current on property taxes and water bills and must have homeowners insurance. Federal Lead requirements apply. This is a revolving loan fund which means that these funds will stay in this neighborhood in perpetuity. The availability of these funds is dependent upon current use and payback.

Lincoln Hill Neighborhood Home Improvement Loan

Loans for exterior home improvement of up to $20,000 for a term of up to 15 years at a 4.99% interest rate. Homeowner must live in home for the term of the loan. Anyone can apply regardless of income level. Must be current on property taxes and water bills and must have homeowners insurance. Federal Lead requirements apply. This is a revolving loan fund which means that these funds will stay in this neighborhood in perpetuity. The availability of these funds is dependent upon current use and payback.

South Salina Corridor Neighborhood Home Improvement Loan

Northside Neighborhood Home Improvement Loan

Loans for exterior home improvement of up to $10,000 for a term of up to 7 years at a 4.99% interest rate. Homeowner must live in home for the term of the loan. Anyone can apply regardless of income level. Must be current on property taxes and water bills and must have homeowners insurance. Federal Lead requirements apply. This is a revolving loan fund which means that these funds will stay in this neighborhood in perpetuity. The availability of these funds is dependent upon current use and payback.

Park Avenue Neighborhood Home Improvement Loan

Loans for exterior home improvement of up to $20,000 for a term of up to 7 years at a 4.99% interest rate. Homeowner must live in home for the term of the loan. Anyone can apply regardless of income level. Must be current on property taxes and water bills and must have homeowners insurance. Federal Lead requirements apply. This is a revolving loan fund which means that these funds will stay in this neighborhood in perpetuity. The availability of these funds is dependent upon current use and payback.

Historic Strathmore 1% Loan Program

Loans for exterior home improvement of up to $10,000 for a term of up to 7 years at a 1% interest rate. Homeowner must live in home for the term of the loan. Anyone can apply regardless of income level. Must be current on property taxes and water bills and must have homeowners insurance. All funding for this program is currently allocated.

N. Valley Neighborhood 1% Home Improvement Loan

Near Westside Homeowner Grants

$2,500 Energy Improvement mini-grants available to homeowners within the targeted Near Westside area. Program is available in conjunction with the Center of Excellence who provides free energy audits and energy interviews for homeowners. No income eligibility restrictions apply. $5,000 exterior home improvement mini-grants available to homeowners within the targeted Near Westside area. Homeowners must be current on property taxes and water bills and must have homeowners insurance. No income eligibility restrictions apply.

Outer Comstock Neighborhood Home Improvement Loan

Loans for exterior home improvement of up to $7,500 for a term of up to 7 years at a 2.99% interest rate. Homeowner must live in home for the term of the loan. Anyone can apply regardless of income level. Must be current on property taxes and water bills and must have homeowners insurance. Federal Lead requirements apply. This is a revolving loan fund which means that these funds will stay in this neighborhood in perpetuity. The availability of these funds is dependent upon current use and payback.

S. Valley Neighborhood 1% Home Improvement Loan

Eastwood Neighborhood 1% Home Improvement Loan

Court-Woodlawn Neighborhood 1% Loan Program

Home Financing

Fannie Mae- features a wide variety of information on numerous products and services available to enhance homeownership opportunities.

Federal Motor Carrier Safety Administration - FMCSA's mission is to decrease moving fraud by providing consumers with the knowledge and resources to plan a successful move.

Freddie Mac - features a wide variety of information on numerous products and services available to homebuyers.

Get Smart - provides information on consumer loans including home, auto and debt consolidation.

HomePath - offers online help in calculating your buying power, information on the loan application process, definitions of real estate terms and more.

Nehemiah Program - specializes in homeownership, affordable housing and community development programs.

Hope Now - receive help from George Bush's Hope Now initiative. If you are having problems paying your mortage please visit this site to learn more about this program. The most prominent party of the initiative is an interest-rate freeze that would give borrowers facing an unmanageable interest rate hike the time to work out a solution.

FHA Loans

Buying your first home?FHA might be just what you need. Your down payment can be as low as 3% of the purchase price, and most of your closing costs and fees can be included in the loan. Available on 1-4 unit properties.

Want a fixer-upper? FHA has a loan that allows you to buy a home, fix it up, and include all the costs in one loan. Or, if you own a home that you want to re-model or repair, you can refinance what you owe and add the cost of repairs - all in one loan.

Financial help for seniors Are you 62 or older? Do you live in your home? Do you own it outright or have a low loan balance? If you can answer "yes" to all of these questions, then the FHA Reverse Mortgage might be right for you. It lets you convert a portion of your equity into cash.

Want to make your home more energy efficient? You can include the costs of energy improvements into an FHA Energy-Efficient Mortgage.

How about manufactured housing and mobile homes? Yes, FHA has financing for mobile homes and factory-built housing. We have two loan products – one for those who own the land that the home is on and another for mobile homes that are - or will be - located in mobile home parks.

First Time Home Buyer Classes

City of Syracuse

Certified Homebuyer Education Course Home HeadQuarters' nationally-certified ten-hour class is where you will learn everything you need to know about the homebuying process from start to finish.

Southern Onondoga County

Housing Counseling A housing counselor can help with mortgage delinquency and default, credit and money management issues as well as pre-purchase counseling before you decide to buy a home. There is no charge for counseling.

First-Time Homebuyer Classes Classes are offered several times a year and cover everything from searching for the right home to working with banks, lawyers and insurance agents. A small fee is charged to cover the cost of a workbook and handouts. A certificate is issued after successful completion of the classes.