Putnam County Housing Corporation offers an enhanced homebuyers program to prepare you for homeownership readiness. Topics will include, credit review, budget, savings and financing options. Counselors will discuss financing options such as FHA, FHA 203K, Conventional Loans, GSE loans, USDA Rural Development 502 and Federal Home Loan Bank of New York-First Home Club.
Please complete the attached First Homebuyer intake application below and return to the attention of Margherita Diaz, Housing Program Manager. You can mail, fax or email to firstname.lastname@example.org. Ms. Diaz will review the completed forms and contact you to schedule an appointment with a Certified Housing Counselor.
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.
FEDERAL HOME LOAN BANK OF NEW YORK-FIRST HOME CLUB
PCHC in partnership with Tompkins Mahopac National Bank, PCSB Bank, Hudson Valley Federal Credit union, and M&T Bank, provides income eligible low and moderate income Putnam residents with matching funds to be used for down payment and closing costs. Income eligibility is determined by household size and income:
For one and two person households – $100,128
Three plus households – $116,816
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.
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.
For more information contact Edie Garvey, Family Self-Sufficiency Coordinator 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. Please contact our Certified 502 Rural Loan Packagers, 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 Joan Fish email@example.com – Patrick Synan firstname.lastname@example.org for review. For more information on the USDA Rural 502 Direct Program, https://eligibility.sc.egov.usda.gov/eligibility/welcomeAction.do