Over the last few months, we have been collecting information about home ownership resources. Sometimes it is simply about filling out the paperwork. As we find more resources, we will try to add them.

A few of resources are:

1) The Albany County Housing Trust Fund

The Albany County Housing Trust Fund is a public-private partnership dedicated to the creation and preservation of affordable housing in Albany County, New York.
http://www.housingtrustfund.net/

2) The Albany Community Land Trust

Created in 1987, the Albany Community Land Trust (ACLT) develops affordable housing opportunities for low-income people, preserves housing affordability for future generations, combats community deterioration by promoting economic opportunities in low-income neighborhoods, and educates the general public about ongoing and innovative methods of community development.
http://www.albanyclt.com/

3) The Capital District Community Loan Fund

Incorporated in 1985, the community controlled Loan Fund works to provide equitable access to capital and economic opportunity. It does this by pooling investments and donations from concerned individuals and organizations and re-lending it to non-profit organizations for housing and community improvement and to micro enterprises for business development.
http://www.cdclf.org/

4) The Affordable Housing Partnership of the Capital Region, Inc.

The Affordable Housing Partnership of the Capital Region, Inc. (AHP) and its affiliate, the Capital Affordable Housing Funding Corp. were incorporated in 1989 to pool low- cost mortgage lending capital with flexible underwriting criteria. The lending consortium financed over $21 million in affordable low- and moderate-income home purchase and rental project financing. Since that time, AHP's services have grown to include a wide range of resources to help Capital District residents build assets and be successful homeowners while strengthening area neighborhoods.
http://www.ahphome.org/

5) The City of Albany Community Development Agency

The Office of Housing coordinates all housing activities in the City so that independent agencies such as the Albany Housing Authority and the Albany Local Development Corporation work toward the same goals and objectives. It is also responsible for administering a federally funded Lead Paint Abatement Program, which provides grants to qualified homeowners for the removal and/or containment of lead paint.
http://www.albanyny.gov/Government/Departments/DevelopmentPlanning/AlbanyCommunityDevelopmentAgency.aspx

Some resources available through the city include:

Home Acquisition Program (HAP)

AP provides up to $15,000 for down payment and closing costs assistance. It is a 10-year, interest free, deferred loan for a 1-4 unit owner occupied property within the North Albany, Arbor Hill, West Hill, Capital Hill, and the South End areas of the City of Albany. There are income restrictions. You cannot currently own any other property.

American Dream Downpayment Initiative (ADDI)

ADDI provides up to $5,000 for down payment and closing costs assistance while funding lasts. It is a 5-year, interest free, deferred loan for one and two family owner occupied homes throughout the City of Albany. You must be a first time homeowner. There are income restrictions.

Albany Down payment Assistance Program (ADAP)

ADAP provides up to 8% of the purchase price for closing cost assistance while funding lasts. It is a 0% 10 year loan. You must have 5% of your own funds for down payment. ADAP can be used on any owner occupied 1-2 family properties within the City of Albany. There are no income restrictions, however, you must receive your first mortgage from HSBC Mortgage Corporation (USA) in order to participate in ADAP. You do not need to be a first time homebuyer, but cannot own any other property at the time of closing.

Midtown Colleges Employer Assisted Housing Program (EAH)

Employees of Albany College of Pharmacy, Albany Law School, Albany Medical Center, College of St. Rose, The Sage Colleges, and University at Albany are eligible to receive $5,000 for down payment and closing costs assistance in the form of a five-year forgivable loan towards the purchase of a home within the Midtown Homeownership Zone Phase I boundaries. There are NO income restrictions. The home must be owner occupied. You do not need to be a first time homeowner, but can not own any other residential property at the time of closing. The forgivable loan is on a first come first serve basis while funding lasts.

Midtown Homeownership Zone

the Midtown Homeownership Program provides $5,000 for down payment and closing costs assistance in the form of a five-year forgivable loan for individuals/families purchasing homes within the Midtown Homeownership Zone Phase I boundaries. There are NO income restrictions. The home must be owner occupied. You do not need to be a first time homeowner, but can not own any other residential property at the time of closing. You must obtain your first mortgage from Citizens Bank. The forgivable loan is on a first come first serve basis while funding lasts.

Capital District Individual Development Account Program (IDA)

IDA is a savings program where for every dollar that you put into a savings account, the bank will match it with three dollars (up to a maximum of $5000). You must save for a minimum of 10 months and a maximum of 30 months and must be a first time homebuyer. There are income restrictions and specific banks that you must use to participate in the IDA program. The Affordable Housing Partnership manages the IDA savings program.

6) United Tenants of Albany (UTA)

UTA is a community based nonprofit organization that works to improve housing conditions, both in terms of physical conditions and in terms of tenants' rights for security and equity. UTA responds to calls throughout the Capital District and concentrates its activities in low and moderate income neighborhoods in Albany.
http://www.unitedtenantsalbany.org/

7) The Albany County Rural Housing Alliance

The Alliance is another resource available to those who would like to live in Albany County in one of many communities they service.
The Albany County Rural Housing Alliance, Inc. (ACRHA) was incorporated in 1982 as a not-for-profit, tax exempt organization. Our mission is to develop, rehabilitate and restore buildings and residences in rural and suburban Albany County in an effort to increase the quality and quantity of housing available to citizens of low and moderate income status; and to provide technical assistance and educational programs to citizens, organizations and local governments concerning housing programs and opportunities.
http://www.acrha.org/index.html

8) Historic Rehab Home Owner Tax Credit

The tax credit is intended to provide economic incentives for the rehabilitation of owner-occupied historic buildings. Only buildings located in both National Register Historic Districts and Distressed Census tracts are eligible. In our area this includes portions of Knox Street in park South and Madison Avenue along Washington Park. The credit covers 20% of qualified rehabilitation costs of owner-occupied historic houses up to a credit value of $25,000, at least $5,000 must be spent on the project.
http://www.tax.state.ny.us/pdf/2007/inc/it237i_2007.pdf