BUYING YOUR FIRST HOME – THE AFFORDABLE HOME PROGRAM

What is the Affordable Home Program?

The Community Development Agency's Affordable Home Program utilizes funds available from the United States Department of Housing and Urban Development to construct affordable two-bedroom and three-bedroom homes with 1 ½ bathrooms.

Who is eligible for Affordable Home Program assistance?

Low and moderate families are eligible to purchase homes constructed by the Affordable Home Program.  Applicants must be first time homebuyers ("first time homebuyers" are persons who have not owned a home for more than three years), employed, be credit worthy, have limited savings, and must have a household income below a certain ceiling.  Call Community Development Agency representatives for details (for contact information, see below).

How do I apply to participate in the Affordable Home Program?

Applicants must complete a Pre-Qualification Application, which can be downloaded or printed by clicking here.  Applicants are informed by the Community Development Agency as to whether they are eligible for participation.  If they are eligible, they are placed on the Agency's Pre-Qualified List.

As homes become available, applicants on the Agency's Pre-Qualified List are mailed a Housing Application.  Those completing the Housing Application and meeting the Affordable Home Program's requirements are entered into the Agency's Affordable Housing Lottery.

Applicants selected for a home in the Lottery must then comply with Program conditions for the purchase of a home, such as:

·         Obtaining a mortgage commitment from a lending institution

·         Obtaining homeowners insurance

·          Showing that they have sufficient savings for the required down payment

Upon meeting all requirements, a closing is held, at which the applicant acquires the home.

How can I learn more about the Affordable Home Program?

To find out more about the Affordable Home Program, and to ascertain whether any homes currently available for purchase, you can call or write to the Town of North Hempstead Community Development Agency as follows:

            Town of North Hempstead Community Development Agency

            51 Orchard Street

            Roslyn Heights, New York  11577

            Attn:     Affordable Home Program
            (516) 869-7670 
            (516) 626-3953 (fax)

allenp@northhempstead.com