Home Ownership
Within the coming year, Onondaga County Community Development expects to purchase, rehabilitate, and sell a number of single family dwellings. These homes will be available at a subsidized price for first-time homebuyers who meet program guidelines. Have you owned a home previously or have other circumstances? Click HERE to see who can be considered a “first-time homebuyer.”
WHAT KIND OF HOMES ARE AVAILABLE?
Community Development’s Homeownership Program offers existing homes, which were often vacant and dilapidated, that have been purchased and rehabilitated using County and State funds.
WHAT IS THE PROGRAM’S ROLE?
- Acquire and rehabilitate houses according to the applicable codes and program guidelines.
- Notify people on the mailing list when houses are ready for sale.
- Meet with each prospective buyer who signs a purchase contract.
- Select the actual buyer through a lottery drawing among eligible prospective buyers.
WHAT DOES THE REALTOR DO?
- Show the houses to interested people.
- Pre-qualify prospective buyers according to program guidelines.
- Refer buyers to partner lenders (Home Headquarters, Solvay Bank, Seneca Savings and Geddes Federal Savings and Loan, though any mortgage provider may be used).
- Prepare purchase contracts and related documents.
HOW MUCH DO THE HOUSES COST?
Prices will vary depending on the cost to buy and rehab each house. Sale prices will not be negotiable. The houses will typically cost between $180,000 and $240,000 before the subsidy is applied.
WHO IS AN ELIGIBLE BUYER?
To be eligible, a family must have a gross income below the maximum shown below, must be a first-time buyer, and must qualify for a mortgage.
Using the chart below, find your family size in the first column. The second column lists what your family’s maximum annual income can be for you to still qualify for the homeownership program. Your income can be less than the maximum. Gross income of all family or household members from all sources must be included.
| Family Size | Income Max Limit |
|---|---|
| 1 | $65,000 |
| 2 | $74,200 |
| 3 | $83,500 |
| 4 | $92,700 |
| 5 | $100,200 |
| 6 | $107,600 |
| 7 | $115,000 |
| 8 | $122,500 |
2025 NYS AHC 112% of Low-Income limit
HOW MUCH IS THE SUBSIDY?
The maximum subsidy varies based on household income, housing expenses, and subsidy source. Generally, the subsidy will be secured by a second mortgage due only if the property is sold within ten (10) years.
WHAT SHOULD I DO IF I’M INTERESTED?
Add your name and contact information to our Mailing List. Watch your email for messages announcing houses for sale. Go to the Open Houses. Complete Homeownership Counseling through an education provider listed below. This counseling is required of all buyers and is a good idea even if you don’t buy a house through the County.
HOMEBUYER EDUCATION
Home HeadQuarters offers homebuyer education courses that meet the requirements of the Community Development Homeownership Program. Find out more information online at Home Headquarters, Inc.
For further information, contact us at 315-435-3558 or via email, CD@ongov.net.