Aquisition-Rehab Program

 

Benefits
Government subsidies allow us to rehabilitate CHDO homes and sell them at fair market value, even if we spend more than that during the rehabilitation phase.

CHDO properties should provide a minimum of 10 years of worry-free ownership, which means you should not have to incur expensive repair bills on the major systems of the home, such as roofing, plumbing, electrical, and heating.

Most CHDO properties undergo a thorough energy audit, and major deficiencies are remedied to ensure that your heating and other household bills will be manageable.

To Qualify:

  • You must be income-eligible (household income at or below 80% of Buffalo's area Median Income)
  • You must be a first-time homebuyer and be purchasing the home as your principal place of residence.
  • You must remain in the home for 10-15 years, depending on the amount of the subsidy. If you move out or sell the home during this period of time, you must repay all or a portion of the subsidy.
  • You must qualify for a mortgage loan with a financial institution.
  • You must have a $500.00 deposit for your down payment.
  • You must take our Homebuyer Education Course

Available Properties
New properties coming soon!

Check out pictures of our most recent rehab in our CHDO gallery.

For More Information:
Contact Bill Buzak at (716) 877-3910.