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First Time Home Buyers In Suffolk County Get A Financial Boost

LongIsland.com

The American Dream may be alive and well for up to 70 first time home buyers in Suffolk County. Last week, Suffolk County Executive Steve Levy announced that first time home buyers in Suffolk County, ...

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The American Dream may be alive and well for up to 70 first time home buyers in Suffolk County. Last week, Suffolk County Executive Steve Levy announced that first time home buyers in Suffolk County, through a $1 million program, may be eligible for as much as $14,000 in down payment assistance from the county. The Suffolk County Community Development Office will determine eligibility based on family size and gross annual income in accordance with HUD standards which states that a family of two can make as much as $67,900 and a family of four as much as $84,900. “This $1 million in federal home aid is the highest amount Suffolk has allocated, matching the amounts of the last three years, and provides an important stimulus to the housing market at this time,” said Mr. Levy in a release issued last week. “More significantly, this program helps our working families achieve the American Dream of home ownership here in Suffolk County.” According to information provided by the County Executive, families earning 60 percent of the area median income will be eligible for grants of up to $14,000 and families at or below 80 percent of the area median income eligible for grants up to $12,000. Applications will accepted on a first-come, first-serve basis. To receive an application, call the Suffolk County Office of Community Development at (631) 853-5705. For additional information, visit http://www.co.suffolk.ny.us