Homebuyer & Homeowner Resources

First Time Home Buyer’s Program
This program provides funding assistance for first time home purchasers within the City of Schenectady.
The program is called the "Second Mortgage Program" and provides the following to eligible applicants:
  • A loan of up to 10% of the purchase price of a property to use toward down payment and/or closing costs
  • An interest rate of 4% with a 5-year term
  • 75% of the assistance will be converted into a grant if the purchaser resides in the property for 5 years
A range of 1, 2, or 3 unit residential properties are eligible. Houses must be in standard condition and able to pass a Certificate of Occupancy inspection and Lead Based Paint Clearance.

Applicants must meet federal income eligibility requirements and have a mortgage loan approval from a lender for at least 90% of the purchase price prior to application.

​Lead Safe Housing Program


The City of Schenectady’s Lead Safe Housing Program wants to make your house lead safe. The Lead Safe Housing Program gives qualified homeowners and landlords in the City of Schenectady free financial assistance to reduce and/or eliminate lead paint hazards in their properties,

Under the City of Schenectady’s Lead Safe Housing Program, you may be eligible to receive the following and more:
  • New energy efficient doors
  • New energy efficient windows
  • Sheetrock and painting
  • Vinyl siding
​Click here for more information

First Home Club

The First Home Clubsm (FHC) was launched by the HLB in 1995 to offer an incentive for households with incomes at or below 80% of area median income to save towards the purchase of a new home. The program is a non-competitive set-aside of the HLB’s Affordable Housing Program and is administered through approved members of the HLB.The FHC provides down payment and closing cost assistance by granting $4 in matching funds for each $1 saved in a dedicated account (up to $7,500 in matching funds) to an eligible first-time homebuyer purchasing a home through one of our approved member community lenders.  For more information about participating financial institutions, contact Better Neighborhoods Inc. by visiting the link to their website below.

Better Neighborhoods Inc. 

Better Neighborhoods Inc., is a local non-profit housing agency that has been improving the quality of life of Schenectady residents by rehabilitating and building homes in our community for over 50 years.  In addition to their construction and rehabilitation efforts, BNI offers programs for first-time homebuyers and long-time residents, such as Homebuyer Education, Pre-Purchase Counseling and Foreclosure Prevention.  For additional information on the programs and services they provide, please visit their ​website.