Revolving Loan Funds and Loan Packaging

Available in:

Broome

Chenango

The goal of our Revolving Loan Funds and Packaging is to help individuals and families find and purchase a home that is right for them, that is affordable and easily upgraded/maintained with financial assistance, and for them to save in energy cost, and become part of the revitalizing efforts in our local community.

What is it?

Low-interest loans for down payments, closing costs, repairs, and help securing USDA loans for purchases/repairs.  Currently, amounts up to $10,000 may be borrowed starting at 3.5%, repayable over a period of up to 10 years.  Other loan funds may also be available for additional purchase/repair assistance.

The process is simple, just contact our certified HUD counselor, answer a few preliminary questions to determine eligibility, and request an application. You mail in your completed application which is reviewed to verify eligibility. Depending on the purpose of your request, a site inspection may be performed. If approved, you complete final paperwork which may include additional steps in obtaining mort­gage financing, grant funds, and/or loan packaging assistance.

Who is it for?

Income-eligible individuals who live or work in Chenango, Broome, Madison and Otsego Counties who may not be able to obtain loans through banks or other financial institutions.

How does this benefit you?

  • Purchase a home
  • Maintain the quality of your home
  • Acquire affordable housing
  • Increase home's value and your equity
  • Promote neighborhood revitalization by improving your home
  • Free up dollars you can use to pay for something else your family may need

Additional Benefits

In addition to the benefits listed above, other available grants may be able to assist you with the following:

  • Down payments, repairs, closing costs and other fees associated with a first time home purchase
  • Upgrade to meet building codes
  • Repair/replace systems (heating, plumbing, elec-1trical, etc.)
  • Improvements for energy conservation, safety, and/ or accessibility
  • Rehabilitation/replacement of hazardous structural components

Contact Information

For information and/or an application, please contact Greater Opportunities at 607-334-7114.

Click the button to download the application form. Complete and return according to the instructions in the form.

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