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.
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.
WHO QUALIFIES FOR UB H.O.M.E.?
Full-time faculty and staff of UB are eligible to participate in the program. New employees and old can receive these benefits, and you do not need to be a first-time homebuyer in order to participate. Even better, this program carries no household income restrictions.
As long as the assisted property will be your primary residence, and you qualify for a mortgage through one of our partner lenders, you’re eligible!
PLEASE NOTE: To qualify for the UB Home Program you must enroll and complete the agency's homebuyer education course.
WHERE IS UB H.O.M.E. OFFERED?
UB H.O.M.E.-eligible 1-4 family properties will be located in the neighborhoods surrounding the UB South Campus, and more specifically within the defined boundaries of the Program Map.
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.
*click on the map for an enlarged version
CAN UB H.O.M.E. BE USED WITH OTHER PROGRAMS?
Depending on your mortgage lender’s guidelines, UB H.O.M.E. may be coupled with another purchase assistance program, such as the City of Buffalo DPCC Assistance Program, or our own DPCC Loan Program, both of which you can learn more about here.
If you'd like more information or want to schedule an application appointment, please contact Pam by email or phone at 716.885.2344.