Binghamton Targeted Home Improvement Program (T-HIP)
The Binghamton T-HIP, or Targeted Home Improvement Program, provides eligible homeowners with grant assistance of up to $40,000 to make critical home repairs in the city of Binghamton. Critical home repairs can include roof replacement, addressing code violations, upgrading and improving utilities, foundation repair and more.
PROGRAM DETAILS & ELIGIBILITY
You must live in the city of Binghamton (zip codes 13901, 13903, 13904, 13905).
You must own and occupy the home as your primary residence.
Your household income must be 80% or lower than the area median income.
Grant assistance is provided to complete home repairs, but property owners must maintain the home and repayment may be required if you move or sell your home after the work is completed.
Multiple contractor bids are required.
Homeowners Insurance is required.
First Mortgage & Closing Cost Assistance
PROGRAM DETAILS
The mortgage currently has a 6.49% interest rate and is payable over 25 years and requires only 2% down.
Borrower must enroll in Auto-Pay (where payments are automatically deducted from your bank account).
Up to $9,000 ($5,000 as a deferred loan/grant and $4,000 in a low-interest loan) in Closing Cost Assistance available to eligible homebuyers. The $9,000 is available to Home HeadQuarters’ mortgage customers only.
ELIGIBILITY REQUIREMENTS
If you are a first-time homebuyer, you must complete a HUD-certified Homebuyer Education Course
You must plan to occupy and live in the home as your primary residence.
To receive Closing Cost Assistance in the form of a grant (deferred loan), you must fall below 80% of HUD median income guidelines (based on family size).
As your first step, please fill out our Mortgage Inquiry Form!
FlexFund Loan Program
FlexFund provides homeowners throughout New York with loans of up to $20,000 for home repairs or energy efficiency-related improvements. There are no income, location or project restrictions with this loan program. All NYS homeowners are welcome to apply.
PROGRAM DETAILS
Offers loans of up to $20,000
The loans currently have a 6.99% fixed interest rate, and are payable over seven (7) years.
No home equity required, no income eligibility requirements, and no upfront costs.
Homeowner chooses the contractor.
Home must be primary residence.
NYS Resilient Retrofits 50/50 Loan/Grant Program for Buffalo & Erie County Homeowners
Binghamton and Broome County homeowners can now take advantage of up to $50,000 in a 50/50 loan/grant program to undertake flood mitigation measures and other climate-ready improvements to their homes.
To see if you’re eligible for this program, for more program information and to download an application, visit the NYS Resilient Retrofits 50/50 Loan/Grant Program page here!