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Keuka Housing Council (KHC) receives funds to provide grants
for homeownership assistance. The applicant must be a first
time homebuyer and meet income guidelines. The applicants
are required to find additional financing through local
lending institutions for the purchase.
The grant funds are for a reduction in the principal of
the mortgage. This helps bridge the gap between what the
house costs and the amount the applicant can afford.
The house selected by the potential homeowner is inspected
to make sure that it meets HUD's established Housing Quality
Standards. This mandate helps to determine if any extensive
repairs are needed and then ensures that the property remains
affordable to the client.
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