The Acquisition and Rehabilitation Program provides first time home buyers with funding to apply toward
down payment and closing costs, as well as moderate rehabilitation of the home after Closing.  The amount
an applicant may be awarded is determined by the cost of the home and the amount of rehabilitation that is
needed.  Eligibility requirements include:

  • Income at or below 112% of 80% AMI of the area median income as dictated by HUD
  • Home to be purchased must be a pre-existing home located in Albany County, if other sources of
    funding are not available. The towns of Berne, Knox, Westerlo, New Scotland, Rensselaerville,
    Coeymans, village of Altamont, and Green Island and the City of Cohoes take precedence.
  • Home to be purchased must pass inspection by a NYS certified home inspector
  • Applicant must complete an approved homebuyer education course (see Homebuyer Education for
    additional information) and be a First Time Homebuyer (according to HUD guidelines)
  • At least 51% of the funds awarded must be used toward rehabilitation.  The remaining amount may be
    used toward down payment and closing costs.
  • Contribute at least $1500 of your own funds toward the purchase of the home.
  • Applicants currently residing in mobile homes may be given priority



Please Note: A Note and Mortgage will be required for the program listed above and a lien will be placed on
the property for up to 10 years, unless otherwise specified.
Purchase Assistance Programs
To apply for the Acquisition and Rehabilitation Program, you will need to download
the forms below, fill out the application and mail along with the qualifying documents  
to our main office, .  You will also need to register for an approved homebuyer
education course and set up a one-on-one counseling session with one of our
Housing Counselors. Please note: Some of the items may need to be updated,
depending on length of time your purchase process takes.

Acq/Rehab Program Document List        Acq/Rehab Program Application    
  Income Guidelines Chart  
Not sure if you're ready to apply?  
Click this link to answer a series of questions and find out if you're ready.  
Home Down Payment Assistance Grants - For first time homebuyers to purchase a
home that will be occupied by the purchaser in the towns of Berne, Coeymans, Green
Island, Knox, New Scotland, Rensselaerville, Westerlo and the small city of Cohoes.
Homes purchased in these areas will take precedence over homes purchased in the
other areas of Albany County.

See our fact sheet on Home Down Payment Assistance Grant Program

tApplication for Home Down  Payment Assistance Grant