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Midtown Colleges and University District
$5,000 Homeownership Grant ProgramWithin the City of Albany’s “Midtown” area, there are several different educational institutions. The colleges and university located in this area are centers of activity and stability. These institutions are essential in the growth and development of Albany. In order to enhance the areas surrounding these colleges and university, the Midtown Homeownership Program was developed to assist new homeowners. The Program is focused on strengthening Albany neighborhoods by increasing the rate of homeownership in the City. The Midtown Homeownership Program is available to individuals or families purchasing a home within the particular program boundaries and offers a $5,000 forgivable loan to be used toward down payment and closing costs. The eligible boundaries of the programs are outlined on the map.
There are two different components of the Midtown Homeownership Program. First, there is the Employer Assisted Housing (EAH) program, which is available to full-time faculty and staff of Albany College of Pharmacy, Albany Law School, Albany Medical Center, College of St. Rose, Sage Colleges, or the University of Albany. Second, the Citizens Bank Grant Program is available to any individual or family that is purchasing a home within the Citizens Bank Grant Program boundaries. The individual or family must obtain their mortgage through Citizens Bank in order to receive this grant. Percentage rate discounts may be available through Citizens for certain qualifying census tracts. For more information regarding the Citizens Bank Grant Program, please contact Lisa Stepp at Citizens Bank: 518-877-9810.
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