UB HOME Program Launches
UNIVERSITY AT BUFFALO HOME OWNERSHIP MADE EASY (H.O.M.E.) PROGRAM
The State University of New York (SUNY) at Buffalo encourages faculty and staff to pursue homeownership within close proximity to the University, in an effort to help support, stabilize and revitalize campus neighborhoods.
In order to make these homeownership options more viable, West Side Neighborhood Housing Services (NHS), Inc., in partnership with the University at Buffalo and the UB Foundation, is now offering the UB H.O.M.E. Program.
WHAT IS UB H.O.M.E.?
UB H.O.M.E. is a purchase assistance program that offers full-time faculty and staff up to $7,500 towards down payment and closing costs (DPCC), or the buy-down of a point of interest on the primary mortgage, for the purchase of a home near the University’s South Campus.
Homebuyers may qualify for subsidies of up to $5,000 for eligible properties west of Bailey Avenue, while up to $7,500 is available for purchases made to the east.
The UB H.O.M.E. financial assistance will be in the form of a combination 0% interest, deferred and forgivable loan that requires no monthly payments. Provided that the buyer remains owner-occupant of the assisted property for a period of 5 continuous years, a portion of the funding is forgiven, while the balance of the funding is due only after you sell or transfer title to the property.