First Time Homebuyer Grants Snow Belt Housing Company, Inc. received its first homebuyer grant award in 1996 from the North Country HOME Consortium. These funds were to be used for down payment, closing costs and minimal repairs. The grant pays the difference between the selling price of the home plus any repairs and the mortgage amount. To be eligible for the program, applicants must be first time homebuyers, meet the income guidelines, and be able to secure bank financing for their share. The maximum income guidelines are listed below.
Priority is given to the lowest income households.
Applicants must also complete a home ownership-training course before they can receive any assistance. These limits are set by the U.S Department of Housing and Urban Development and are subject to change every year. Applications for this program are available at the Snow Belt Housing Company, Inc. office at 7500 S. State Street, Lowville, New York 13367. Homeownership Training Snow Belt Housing Company, Inc. offers homeownership training to all potential homebuyers. With housing expenses typically taking up the largest share of a household s budget, first time potential homeowners need a comprehensive education program to insure smart buying and successful ownership.