College graduates across New York State are getting a helping hand from the state government in order to buy their first home.
The new $5 million Graduate to Homeownership Program allows college grads from eight cities, including Geneva, to apply for a low-interest mortgage for their first house.
The program offers low-interest rate mortgages, a down payment assistance loan with no additional fees, and a homebuyer education course.
It is available for qualified first-time homebuyers who have graduated from an accredited college or university with an associate’s, bachelor’s, master’s or doctorate degree within the last 48 months.
Graduates must be purchasing a home in one of the following Downtown Revitalization Initiative communities:
– The City of Geneva, Finger Lakes
– The City of Jamestown, Western New York
– The City of Elmira, Southern Tier
– The City of Oswego, Central New York
– The City of Oneonta, Mohawk Valley
– The City of Plattsburgh, North Country
– The City of Glens Falls, Capital Region
– The City of Middletown, Mid-Hudson
“When you are a homeowner, you are able to become part of the fabric of the community, ” said Lieutenant Governor Kathy Hochl, who attended the announcement in Geneva Wednesday. “I think it’ll become a game changer for the young people who will take advantage of it, and everyone should take a look.”
For more information about the Graduate to Homeownership Program, visit www.sonyma.org or call 1-800-382-4663.