To encourage home ownership and help support stabilization and revitalization in and around the South Campus, the University at Buffalo is pleased to offer the UB H.O.M.E. (Home Ownership Made Easy) program to full-time and part-time faculty and staff.
This program is being funded by the University at Buffalo Foundation (UBF) in partnership with West Side Neighborhood Housing Services (West Side NHS), Inc., a NeighborWorks America Chartered Member with a proven track record of housing and community revitalization.
Qualified buyers will be eligible for a combination of interest–free deferred and forgivable loans of up to $5,000, which can be used to help cover down payments and closing costs or for interest rate reduction. Up to $7,500 is available for homes in the target area east of Bailey Avenue. Please see the map below for eligible properties.
Properties eligible for the UB H.O.M.E. program are indicated on the map below. Up to $5,000 in funding is available for homes within the blue section of the map and up to $7,500 is available for homes within the orange section.
Each loan is made up of a UBF-funded piece and a West Side NHS-funded piece. The UBF portion will be forgiven if the original homebuyer remains in the home for a minimum of five continuous years. The West Side NHS portion is an interest-free, deferred loan that must be paid back when the home is sold.
West Side NHF will also provide the following services to all UB HOME participants:
All UB HOME inquiries should be directed to Mary Drossos, Loan Officer, at firstname.lastname@example.org, or by phone at 716.877.3910.
The University Heights-Summit Park-Berkshire Terrace Historic District was recently listed to the National Register and over 1,000 properties in the neighborhood now eligible for historic tax credits!
The NYS Historic Homeowner Tax Credit provides a 20% tax credit on home improvement projects, up to $50,000/year. This could be a helpful tool for homeowners make significant improvements to their properties.
For more information, you can visit the NYS Tax Credit Program website.