News
November 28, 2023Ballston Spa National Bank Announces Grant Program to Assist Homebuyers
Qualified borrowers may receive $5,000 towards down payment and closing costs
Ballston Spa National Bank (BSNB), introduced today a new Homebuyer Assistance Program designed to help greater numbers of families achieve the dream of home ownership. BSNB’s grant provides a lender credit of $5,000 that eligible borrowers may use towards non-recurring closing costs or to supplement a down payment.
“This grant will make homeownership more affordable for families,” said Christopher R. Dowd, BSNB president and CEO. “I’m confident that our experienced mortgage loan originators can offer guidance and support throughout the mortgage process.”
To qualify, a potential homebuyer must meet the following criteria:
- Home must be located in Albany, Schenectady, or Saratoga County within New York State.
- Household income may not exceed $62,860.
- Buyer must complete a homebuyer education course prior to applying for the grant.
Interested homebuyers need to act quickly as there are a limited number of grants available. Grants will be offered on a first-come, first-served basis until 12/31/23 or until the funds are depleted.
To learn more, borrowers are urged to contact a BSNB mortgage loan originator.
