PCHC offers an enhanced homebuyers program to assist residents in purchasing a home. This includes a First Home Buyers Club in partnership with Tompkins Mahopac National Bank, PCSB Bank, Hudson Valley Federal Credit union, and M&T Bank.
The First Home Club provides income eligible low and moderate income Putnam residents with matching funds to be used for down payments and closing costs. Income eligibility is determined by household size and income:
For one and two person households – $91,584
Three plus households – $106,848
For every dollar saved and deposited into the dedicated account under a systematic schedule of savings, the Federal Home Loan Bank of New York will match $4, not to exceed $7,500 in matching funds per household.
FIRST TIME HOME BUYERS
Please complete the attached forms and return to the attention of Mrs. Margherita Diaz at PCHC, 11 Seminary Hill Road, Carmel, NY or email to firstname.lastname@example.org. Mrs. Diaz will review the completed forms and contact you to schedule an appointment within two weeks of receipt. Call the main number for further information 845-225-8493.
Putnam County Housing Corporation partners with eHome America to provide their online Home Buyer Education. The client registers through the eHome portal (http://www.ehomeamerica.org) and pays a fee of $99.00. Upon completion of the online training and test, the client is referred to Putnam County Housing Corporation to complete one hour of counseling and receive their certificate of completion.
SECTION 8 VOUCHER HOMEOWNERSHIP PROGRAM
Participants in the Housing Choice Voucher Program may be eligible to purchase their own home by allowing the family to use their voucher subsidy to meet monthly homeownership expenses. The participant must be enrolled in the Family Self-Sufficiency Program. Contact Family Self-Sufficiency Coordinator, Edie Garvey at 845-225-8493, Ext. 213.
USDA 502 RURAL SINGLE FAMILY HOUSING LOAN PROGRAM
The USDA 502 Direct Loan Program assists low and very low- income applicants to purchase single family, owner occupied homes in eligible rural designated areas. Putnam County is predominately rural designated. Features of the program include 100% financing, no mortgage insurance requirement and possible monthly subsidy assistance. Putnam County Housing Corporation’s two Certified 502 Rural Loan Packagers are, Patrick Synan 845-225-8493 Ext. 210 and Joan Fish 845-225-8493 Ext. 207. Please complete the First Home Buyer Intake Application along with the Pre-qualification package that can be found below, you can mail, fax or email back for review. For more information on the USDA Rural 502 Direct Program, see, https://eligibility.sc.egov.usda.gov/eligibility/welcomeAction.do