Community Development

Single Family Acquisition/ Rehab Program - Updated 07-22-2014

NEW FUNDING AVAILABLE FROM CITY TO HELP BUY HOMES - APPLICATIONS FOR FUNDS BEING ACCEPTED NOW

The City of Cortland was awarded funds to assist in the purchase and rehabilitation of single-family homes in the City. To be eligible for assistance, you must be (1) income eligible; eligibility is based on the number of people in your household (see chart below); (2) be a first time home buyer (you can be considered if you have not owned a home in the last 3 years); (3) are creditworthy (the City helps with down payment and closing costs, but you will have to be able to secure a bank mortgage), and (4) have at least $1,000 of your own funds

HOUSEHOLD SIZE (NUMBER OF PERSONS)

 

1

2

3

4

5

6

7

8

INCOME

$38,528

44,016

49,504

54,992

59,416

63,840

68,208

72,632

Homes to be purchased must be single-family homes located in the City of Cortland and be your primary residence.

Funds will be available for down payment and closing costs. Once the applicant purchases the home, additional funds will be available for rehabilitation work. The City’s assistance will NOT require repayment under normal circumstance.

           

Download the full application and program guidelines. Please contact Linda Armstrong at Thoma Development Consultants at (607) 753-1433 if you need assistance with the application or you have additional questions.

           

2014 Program Guidelines and Application (pdf)