FIRST-TIME HOMEBUYERS

Congratulations for taking the first step towards successful homeownership by visiting our website! Our First Time Homebuyer Program will prepare you for the responsibilities of homeownership, empower you to make smart decisions throughout the home buying process, and connect you to the most affordable mortgage products, including any down payment and/or closing cost assistance programs for which you may qualify. The First-Time Homebuyer Program includes classroom (Not Available Right Now) or online education and one-on-one counseling. NHS is certified by HUD and NeighborWorks America.

To get started now, take the online orientation, complete the survey sent via email after the orientation, please download and complete the intake form below and submit it to the Bronx NHS along with the required documents listed. If you are not sure if you are ready to begin the home buying process or want to learn more about our programs, attend one of our free First Time Homebuyer orientations.

You may also want to begin the process of browsing properties of interest to you by visiting https://propertyshark.com

One-on-One Counseling

One of our HUD certified homeownership counselors will serve as your homeownership coach throughout your home purchase process and will provide you with:

  1. A personalized Credit and Budget Analysis – The counselor assesses your financial profile – including your employment history, credit history and assets – to determine which steps you need to take to be ready to begin the home buying process.
  2. A personalized Affordability Analysis – Considering your stable income, your assets and your financial obligations, your counselor will determine how much money you can afford to spend so you can begin shopping for your home; and
  3. A personalized Action Plan – This will serve as your step by step guide to successful home-ownership. Your NHS counselor will work with you every step of the way.

When you are ready to shop for a mortgage, your counselor will help you access the most competitive quotes, compare the mortgage offers and apply for down-payment and closing costs assistance for which you may be eligible.

Once you have completed your action plan and graduated from the Home-buyer Education course, your counselor will certify you as a “mortgage ready” borrower. This certificate will qualify you for down-payment and closing costs assistance (for which you are eligible) through the Bronx NHS, as well as the best mortgage deals from our partner banks.

WHAT RESOURCES DOES THE HOMEOWNDERSHIP CENTER OFFER TO FIRST-TIME HOMEBUYERS?

Individual Mortgage Readiness Analysis

You are eligible to receive an in-depth mortgage readiness assessment from one of our certified housing counselors. They will review your income, credit, budget and savings, and set you on the path to home-ownership. If you are ready, ask if you qualify for grants to assist you.

Home-buyer Dream Program: The Home-buyer Dream Program is offered by local lenders through the Federal Home Loan Bank of New York. Grants up to $15,000 for down payment and closing costs.

Home-buyer Education: Creating knowledgeable home-buyers is our goal. Through our education program, we will walk you through the entire home-buying process. You will also benefit from meeting experienced professionals such as attorneys, lenders, home inspectors, realtors, and others who will share their local market perspectives. For your convenience, Bronx NHS offers both

Grants for First-Time Homebuyers: Bronx NHS successfully works with local municipalities and lenders to attain funding to assist low-to-moderate-income, first-time buyers with their home purchases. Qualifications for assistance vary depending on funding sources. You will learn more details at our workshop, where our counselors will explain current funding opportunities. Funding can be used for down payment, closing costs and/or post-closing repairs to the home.

Section 8 to Home Ownership: Section 8 to Home Ownership provides a wonderful opportunity for families receiving Housing Choice Voucher Program (Section 8) rental assistance to create roots in the community, create pride, and have a safe place for their children. Contact your HCV (Housing Choice Voucher) Specialist to see if you are eligible to apply.

Mortgage Loan Programs: Bronx NHS offers a variety of loan products in partnership with key mortgage lenders. Including but not limited to SONYMA.

SONYMA National Rehabilitation Program (NRP) for Homebuyers purchasing homes in the Bronx  in need of repair
We’re connecting homebuyers with SONYMA’s Neighborhood Revitalization Program , a package of incentives to help owner‐occupant homebuyers purchase and renovate vacant homes in the Bronx.

We’re connecting homebuyers with SONYMA’s Neighborhood Revitalization Program , a package of incentives to help owner‐occupant homebuyers purchase and renovate vacant homes in the Bronx.

Program Features Include:

  • Up to $20,000 cash assistance to renovate a home that you purchase
  •  Access to financing additional improvements into your purchase mortgage for post-closing rehab
  •  NRP can be combined with other grants and assistance programs thereby maximizing your ability to make your new home safe, secure and energy-efficient
  •  SONYMA mortgages of 30 years, low interest, no “Borrower Points,” down payment assistance arranged through select banks (M&T Bank , Citi Bank, Wells Fargo, Freedom Mortgage)

Eligible Properties:

  • Vacant properties in designated areas capable of housing 1 to 4 families
  • Seller must be able to pass a clean title to the purchaser

Eligible Applicants:

  • Applicant must occupy the property as the primary residence
  • Eligibility is determined by income limits up to 125% of Area Median Income (which varies by county) or 150% on a case‐by‐case basis
  •  Good credit, stable employment and ability to make monthly mortgage payments

We’re ready to assist you with the purchase of a vacant home* located one of the eligible communities of the Bronx. For assistance email Kisha Montesionos at (link to Kisha email) or call 718.881.1180.

*Vacant simply means no one is living at the address. The property does not have to be abandoned to qualify.