COLONIE – Ballston Spa National Bank introduced a new Homebuyer Assistance Program designed to help greater numbers of families achieve the dream of home ownership. BSNB’s grant provides a lender credit of $5,000 that eligible borrowers may use towards non-recurring closing costs or to supplement a down payment.
“This grant will make homeownership more affordable for families,” said Christopher R. Dowd, BSNB president and CEO. “I’m confident that our experienced mortgage loan originators can offer guidance and support throughout the mortgage process.”
To qualify, a potential homebuyer must meet the following criteria: the home must be located in Albany, Schenectady, or Saratoga County within New York State, the household income may not exceed $62,860, and the buyer must complete a homebuyer education course prior to applying for the grant.
Interested home buyers need to act quickly as there are a limited number of grants available. Grants will be offered on a first-come, first-served basis until December 31 or until the funds are depleted.
To learn more, borrowers are urged to contact a BSNB mortgage loan originator.
