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| Re: $14,000 In Suffolk County Long Island (828881) | |||
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Re: $14,000 In Suffolk County Long Island |
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Posted by streetcarman1 on Mon Aug 15 22:44:19 2011, in response to $14,000 In Suffolk County Long Island, posted by LuchAAA on Mon Aug 15 22:22:54 2011. "Yup. Suffolk County Long Island will give you $14,000 toward a down payment on a home if you make less than $65,000 and stay in the home for 5 years. If you leave you pay it back. The taxpayer is backing this program. THIW."Lets get the facts straight.... http://www.co.suffolk.ny.us/departments/CountyExec/Press%20Releases/Down%20Payment%20Assistance%20Program.aspx $1 Million Available in 2008; More Than 1,000 Homeowners have Benefited from Federal Program in Suffolk Hauppauge, NY–Hopeful first-time home buyers in Suffolk may be eligible for as much as $14,000 in down payment assistance from the Suffolk County Community Development Agency – potentially helping them clear that last hurdle towards home ownership. Suffolk County Executive Steve Levy detailed the county’s program – which has helped more than 1,000 homeowners since its inception – at a press conference Tuesday. Levy has allocated $1 million in down payment assistance in 2008, the highest level ever in Suffolk. “One of the largest obstacles to home ownership for young working families is that large down payment,” said Levy. “Upon taking office in 2004, I lobbied the federal government to double the maximum allowable grant for this region, in recognition of the high cost of housing.” Levy also lobbied to change the maximum appraised value for a home from $279,000 to $396,150 on Long Island. “We had been living with my in-laws and saving money for three and a half years just for closing costs,” said Vita Stears. “Without this program, it would have taken another three or four years of saving to be able to cover the down payment.” Eligibility is determined on family size and gross annual income, with families earning 60% of the area median income eligible for grants of up to $14,000 and families at or below 80% of the area median income eligible for grants up to $12,000. Applications are accepted on a first come, first served basis beginning May 1 and can be obtained by written request or by calling the Suffolk County Office of Community Development at (631) 853-5705. Requests for applications may be sent to the Office of Community Development at the H. Lee Dennison Building, 11th Floor, P.O. Box 6100, Veterans Memorial Highway, Hauppauge, NY 11788-0099. |
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