Buffalo & Erie County Landlord Property Improvement Fund
Buffalo area Landlords, of one to four unit properties, can now access loan funds of up to $25,000 to address lead paint hazards and other health and safety needs in their rental properties. City of Buffalo Landlords can also take advantage of a grant of up to $5,000 or 20% of their total loan amount.
PROGRAM DETAILS
Loans of up to $25,000 at 7.99% interest with a 7-10 year term, can address lead hazards, emergency and code repairs and other health and safety items.
Grants of up to $5,000, or 20% of the total loan amount, are awarded on a first come, first served basis to City of Buffalo Landlords.
Landlords may choose their own contractor provided contractor has appropriate certifications and insurances.
Work scopes may be required prior to loan closing and work will require inspection prior to final payment.
Loans and grants are secured with a mortgage for the term of the loan.
There are no income-eligibility requirements for either landlords or tenants.
Landlords must apply and meet Home HeadQuarters’ flexible underwriting standards in order to access loan funds.
ELIGIBILITY REQUIREMENTS
Properties located within Erie County can apply for loan funds.
Property must be located within the City of Buffalo to be eligible for grant funds as part of the loan.
Property must be no more than four units.
Property must be in compliance with city and county rental requirements.
Questions? Call Home HeadQuarters at (716) 314-1027 or (800) 724-4330.
The Buffalo & Erie County Landlord Property Improvement Fund is made possible through a partnership with Erie County, the City of Buffalo, the Community Foundation for Greater Buffalo, and The Erie County Lead Safe Task Force with grant funding from the City of Buffalo Urban Renewal Agency through the New York State Attorney’s Office and with loan funds from Evans Bank, KeyBank and M&T Bank. The loan fund is administered by Home HeadQuarters.
First Mortgage & Closing Cost Assistance
PROGRAM DETAILS
The mortgage currently has a 6.99% interest rate and is payable over 25 years and requires only 2% down.
Borrower must enroll in Auto-Pay (where payments are automatically deducted from your bank account).
Up to $9,000 ($5,000 as a deferred loan/grant and $4,000 in a low-interest loan) in Closing Cost Assistance available to eligible homebuyers. The $9,000 is available to Home HeadQuarters’ mortgage customers only.
ELIGIBILITY REQUIREMENTS
If you are a first-time homebuyer, you must complete a HUD-certified Homebuyer Education Course
You must plan to occupy and live in the home as your primary residence.
To receive Closing Cost Assistance in the form of a grant (deferred loan), you must fall below 80% of HUD median income guidelines (based on family size).
As your first step, please fill out our Mortgage Inquiry Form!
FlexFund Loan Program
FlexFund provides homeowners throughout New York with loans of up to $20,000 for home repairs or energy efficiency-related improvements. There are no income, location or project restrictions with this loan program. All NYS homeowners are welcome to apply.
PROGRAM DETAILS
Offers loans of up to $20,000
The loans currently have a 6.99% fixed interest rate, and are payable over seven (7) years.
No home equity required, no income eligibility requirements, and no upfront costs.
Homeowner chooses the contractor.
Home must be primary residence.
NYS Resilient Retrofits 50/50 Loan/Grant Program for Buffalo & Erie County Homeowners
Buffalo & Erie County homeowners can now take advantage of up to $50,000 in a 50/50 loan/grant program to undertake flood mitigation measures and other climate-ready improvements to their homes.
To see if you’re eligible for this program, for more program information and to download an application, visit the NYS Resilient Retrofits 50/50 Loan/Grant Program page here!