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.
502 SINGLE FAMILY HOUSING LOAN PROGRAM
The 502 program assists low and very low income applicants to purchase housing in eligible rural areas with 100% financing and no PMI. Applicants can purchase single family homes in Putnam County as it is a rural designation and in other designated rural communities. Eligible applicants can receive payment assistance reducing the monthly mortgage payment. Putnam County Housing Corporation employs 2 certified 502 loan packagers, Patrick Synan 845-225-8493 Ext. 210 and Joan Fish 845-225-8493 Ext. 207. Below please find Single Family Housing pre-qualification form to be completed and returned to our office. Additional information and eligibility guidelines can be located at https://eligibility.sc.egov.usda.gov/eligibility/welcomeAction.do