Housing nonprofits offer downpayment help for first-time homebuyers - The Buffalo News

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Housing nonprofits offer downpayment help for first-time homebuyers

Two housing nonprofits in Buffalo and Rochester have teamed up to offer $1.2 million in downpayment assistance for first-time homebuyers in Erie and Monroe counties.

Under the Project Reinvest: Homeownership program, West Side Neighborhood Housing Services in Buffalo and NeighborWorks Rochester will offer up to $10,500  in no-interest deferred grants to eligible homebuyers to help them buy their first homes in target areas of the two counties. To qualify, homebuyers must earn at or below the area median income for their county, and must be purchasing in a community development financial institution investment area.

“For people whose American dream of owning their own home might have been just out of reach, Project Reinvest Homeownership will give them the opportunity to build wealth and a brighter future,” said Ed Jackson, executive director of West Side NHS.

Interested applicants should contact one of the participating partner lenders, including Evans Bank, Five Star Bank and Northwest Bank in Erie County. Five Star and Northwest, along with Canandaigua national Bank, are the partners in Monroe County.

The two local nonprofits are both affiliated with Neighbor-Works Community Partners, a new affordable housing group focused on strengthening neighborhoods in the larger Buffalo and Rochester region.

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