NYSAR Housing Opportunities Foundation Grants

The New York State Association of Realtors
Housing Opportunities Foundation Individual Grant
NYSAR Housing Opportunities Foundation Grants

The New York State Association of Realtors Housing Opportunities Foundation, Inc. is an organization that was established to create and increase affordable housing opportunities for individuals to overcome the barriers of home ownership. Qualifying individuals apply for grants to assist with closing costs and/or down payments. The grants are gifts with no payback requirement and are available to low–to-moderate income families in New York State. The Housing Opportunities Foundation has entered into arrangement with The Community Foundation for the Greater Capital Region who will receive and review applicants and award grants throughout New York State.

Download Application

Eligibility Requirements:

  1. Applicants must be first-time homebuyers as defined by The State of New York Mortgage Agency, SONYMA (www.nyhomes.org), as: A person who (i) has not had any ownership interest in his or her primary residence at any time during the three years prior to the date of making an application for a SONYMA mortgage loan; and, (ii) at the time of making the loan application to SONYMA, does not own a vacation or investment home. This includes residences owned in the United States and abroad.
  2. Applicant incomes must be no more than 110% of the SONYMA Low Interest Rate Program’s income limit for the applicant’s county as posted on the SONYMA website on the day the application is received by the Foundation. (for more details, visit http://www.nyhomes.org/Home/Buyers/IncomeLimits/Programs.htm)
  3. Home prices must be no more than 110% of the SONYMA Low Interest Rate Program’s purchase price limit for the applicant’s county as posted on the SONYMA website on the day the application is received by the Foundation. (for more details, visit http://www.nyhomes.org/Home/Buyers/PurchasePriceLimits/Programs.htm)
  4. Grants will be limited for the purchase of an owner occupied residence only.
  5. Relatives of selection committee members are ineligible.

Selection Process:

  • Applications will be reviewed on a rolling basis with decisions rendered within 30 days of receipt of the application by the Foundation.
  • All complete applications will be reviewed by the selection committee; incomplete applications will not be considered.

Fund Disbursement:
1. A grant of $2,000 will be awarded to selected individuals for down payments and other reasonable closing costs normally associated with purchasing a home.
2. The grant funds will be available for 120 days following final approval by the Foundation. Funds will be released to a representative attending the closing other than the grant recipient.

Application Procedures:

  1. In addition to the application form, the following information is required:
    1. A letter from the lender referencing the candidate’s mortgage pre-qualification. Final loan commitment submission is required before funds can be dispersed.
    2. A copy of the candidate’s 2009 tax return.
  2. It is suggested that the application, as well as the lender letter, copy of the tax return and essays, be submitted as one packet.
  3. The applicant should complete the application form by typing or printing all answers.
  4. Application must be signed by applicants REALTOR
  5. Each essay should be no more than 200 words.
  6. The selection committee can and will follow-up with phone call or in person interviews if need be.
  7. Applications that are not complete will not be eligible for review.

Completed applications should be submitted to:

NYSAR Housing Opportunities Foundation
c/o The Community Foundation for the Greater Capital Region
Six Tower Place
Albany, NY 12203

Thinking of purchasing your first home? Interested in finding out the current market value of your single family home, condo or investment property? Then call Town & Country Partners at (716) 650-0051 to discuss what is happening in today’s Western New York Real Estate Market. We would be happy to give you a personalized Comparative Market Analysis for your home or assist you to purchase a home. View additional WNY Market Area Statistics here.

All Statistics are gathered from the Buffalo Niagara Association of REALTORS®.
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About Colleen Kulikowski, Associate Real Estate Broker (716) 650-0051

Colleen Kulikowski is an Associate Real Estate Broker with the Griffin Team @ Keller Williams Realty Buffalo Northtowns specializing in Western New York residential homes who doesn’t follow trends; she blazes new trails and is able to recognize industry trends and implement them to her client’s best interest. Colleen has created a unique following with one of the top local internet positions in the country generating thousands of leads for her team. Real Estate is a second career for Kulikowski who’s first career was in Information Technology and Data Warehousing working for such companies as Radio City Music Hall, Nabisco Foods and as a consultant in the Financial and Insurance industries. A strong background in technology and management provides her with keen analytical and sharp negotiating skills.

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