Binghamton Residents Eligible For Loans To Enhance Home Energy Efficiency

(December 2, 2024) - Today, Binghamton Mayor Kraham held a news conference highlighting funding that will assist local residents in protecting homes against flooding and help make energy-efficient upgrades.

According to the announcement, Home HeadQuarters, a nonprofit housing and community development organization will be providing income-eligible homeowners in Broome County loans of up to $50,000 in a 50/50 low-interest loan with a matching deferred loan for addressing flood risks, improving energy efficiency, and climate readiness and other critical home repairs.

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In addition, this funding can be used to cover other improvements including installing a new hot water tank, new energy-efficient appliances, high-performance windows, and other non-luxury improvements to bring a home code-compliant, as announced during the news conference.

This program is providing funding to help Binghamton residents protect their homes against flooding and make energy-efficient improvements. I’m encouraging homeowners to learn more about the resources available to help them prepare for the extreme weather events that are increasingly common. Thanks to New York State Homes and Community Renewal for making more funding available to local homeowners and to Home HeadQuarters for their help connecting residents with these vital resources. - Binghamton Mayor Jared M. Kraham

Resilient Retrofits Loan Fund ProgramDetails

• Loans of up to $50,000 to make flood mitigation and energy-efficient upgrades
• Loans have a simple 3% fixed interest rate and are payable over five or ten years|
• Household must meet income eligibility requirements (120% or less than the area median income)
• Home improvements must be made on a primary residence

Broome County Household Income Eligibility Requirements

• 1-Person Household: $ 74,520
• 3-Person Household: $ 95,880
• 2-Person Household: $ 85,200
• 4-Person Household: $ 106,440
•  5-Person Household: $ 114,960
• 6-Person Household: $ 123,480

For more information and applications, visit the Home HeadQuarters website or call 1-833-DRY-WARM.