Binghamton Launches First-Time Homeownership Program

Binghamton Mayor Richard David says the City would like to help people realize the dream of home ownership.

A First-Time Homebuyer program is being introduced that would provide up to $5,000 to help with closing costs, up to $20,000 for rehabilitation of a single-family home and up to $40,000 toward the rehabilitation of a two family home.

The City is looking to use $200,000 in federal funds to pay for the program.

To qualify for participation, applicants must meet established U.S. Department of Housing and Urban Development guidelines based on the size of their household.  Buyers would also have to complete a training course through the City Homeownership Academy.

Residents can apply now.

Information is available from the Academy by calling (607) 723-0723 or the Binghamton Department of Planning, Housing and Community Development at (607) 772-7240.