Within the coming year, Onondaga County Community Development Division expects to have fifteen to thirty single family dwellings available at a subsidized price for first-time home buyers who meet program guidelines.
WHAT KIND OF HOMES ARE AVAILABLE?
Community Development's homeownership program offers two types of properties: Existing Vacant Houses and Newly Constructed Houses. The majority of houses the County offers are existing houses, which were vacant and dilapidated but have been completely rehabilitated using Federal and State funds. Houses are scattered around the County outside the City of Syracuse. In some cases, the County builds new houses on vacant land.
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WHAT IS THE COUNTY'S ROLE?
Acquire and rehabilitate (or build) houses according to the applicable codes and program guidelines.
Notify people on the mailing list when houses are ready for sale.
Meet with each prospective buyer who signs a purchase contract.
Select the actual buyer through a lottery drawing among prospective buyers.
WHAT DOES THE REALTOR DO?
Show the houses to interested people. Pre-qualify prospective buyers according to program guidelines. Refer buyers to Geddes Federal Savings and Loan, Seneca Federal Savings and M&T Bank. Prepare purchase contracts and related documents.
HOW MUCH DO THE HOUSES COST?
Prices will vary depending on the cost to buy/rehab or build each house. Sale prices will not be negotiable. The houses will typically cost between $85,000 and $110,000 before the subsidy is applied.
WHO IS AN ELIGIBLE BUYER?
To be eligible, a famiily must have a gross income below the maximum shown below, must be a first-time buyer, and must qualify for a mortgage. Please note that both husband and wife, or if unmarried, both partners must attend homebuyer counseling, must be co-borrowers on the mortgage and must be named on the deed as co-owners.
Using the chart below, find your family size in the first column. The second column tells you what your family's maximum annual income can be for you to still qualify for the homeownership program. Your income can be less than the maximum. Gross income of all family or household members from all sources must be included.
| Family Size |
Income Limit |
| 1 |
$37,350 |
| 2 |
$42,650 |
| 3 |
$48,000 |
| 4 |
$53,300 |
| 5 |
$57,600 |
| 6 |
$61,850 |
| 7 |
$66,100 |
| 8 |
$70,400 |
HOW MUCH IS THE SUBSIDY?
The maximum subsidy varies based on household income, housing expenses, and subsidy source. Generally, the subsidy will be secured by a second mortgage due only if the property is sold within ten (10) years.
WHAT SHOULD I DO IF I'M INTERESTED?
Return the Mailing List Form. Watch your mail for letters announcing houses for sale. Go to the Open Houses. Complete Homeownership Counseling through HOME Headquarters. To register for classes, call 474-1939, ext. 28. This counseling is required of all buyers, and is a good idea even if you don't buy a house through the County.
HOMEBUYER EDUCATION
Home HeadQuarters and Southern Hills Preservation Corp. offer homebuyer education courses that meet the requirements of the Community Development Homeownership Program and are free to those buyers who contract with Community Development for purchase of a home. Find out more information online at http://www.southernhillspc.org/housing.html or http://www.homehq.org/homeownership/homebuyer_education.html
For further information, contact:
ONONDAGA COUNTY COMMUNITY DEVELOPMENT DIVISION
1100 John H. Mulroy Civic Center
Syracuse, New York 13202 435-3558
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