$1.2 million award will fund homebuyer assistance in Monroe and Erie Counties
Updated: 6/12/2018 – All funds have been deployed in all participating counties.
Project Reinvest: Homeownership will make $1.2 million available to homebuyers in Monroe, Erie and Niagara Counties, providing down payment assistance for the purchase of first homes. The funds were awarded to NeighborWorks Rochester, a Community Development Financial Institution, to be executed in partnership with West Side Neighborhood Housing Services in Buffalo, NY.
Eligible homebuyers can receive $10,500 in down payment assistance for the purchase of their first homes in Monroe, Erie or Niagara County.
“We are excited to be able to offer this down payment assistance in partnership with West Side Neighborhood Housing Services,” said Joanne Panarisi-Bottone, Executive Director of NeighborWorks Rochester. “The cities of Buffalo and Rochester face challenges of low average incomes and weaker housing markets, and these funds will help homebuyers to achieve more equity in their home purchase.”
“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.
Project Reinvest: Homeownership is a no-interest deferred loan. Homebuyers may qualify if they make at or below 100% of the Area Median Income for their county and if they are purchasing in Monroe, Erie or Niagara County.
Interested homebuyers should contact the lender of their choice for more information or to start an application. Monroe County partners are Citizens Bank, Canandaigua National Bank, M&T Bank, Five Star Bank, Fairport Savings Bank and Northwest Bank. Erie and Niagara County partners are Evans Bank, Fairport Savings Bank, Five Star Bank, M&T Bank, Citizens Bank and Northwest Bank.
NeighborWorks® Rochester and West Side Neighborhood Housing Services are each affiliates of NeighborWorks Community Partners, a newly-formed affordable housing group building strong neighborhoods in Western New York by providing education and counseling services to new homeowners. Interested home buyers can choose from the following list of bank partners for more information and to start the application process.