KINGSTON – The City of Kingston and RUPCO have partnered for a First-Time Homebuyer Program.
The city is funding the program with $395,000 from the city’s annual Community Development Block Grant funding, and RUPCO will administer the program.
The First-Time Homebuyer Program will provide up to $50,000 in funding to six or more income-eligible first-time homebuyers in Kingston to assist with acquisition costs, including up to 50 percent of a down payment required by the mortgage, reasonable and necessary closing costs, and subsidy of the applicant’s mortgage principal amount.
“This program will help boost homeownership in the City of Kingston and put ownership within reach of lower-income families who want to own a home in Kingston and create generational wealth,” said Mayor Steven Noble.
“This program will significantly impact many families in Kingston, allowing them to own their homes and create a sense of stability and security for themselves and their loved ones,” said Faith Moore, RUPCO senior vice president of operations and strategy.
To learn more about terms and conditions and to apply for counseling, visit www.rupco.org.
