HOME ROCHESTER

HOME Rochester makes renovated homes available to first time homebuyers. The homes are found in neighborhoods throughout the City of Rochester. Buyers must meet certain income requirements to purchase homes through HOME Rochester.

While each home has a seperate renovation plan, all homes are renovated to be lead-safe. All homes sold after September 1, 2004 have a one-year home owner's warrantee covering most new features of the home.

For qualifying income limits, please click Income Guidelines

ELIGIBLE BUYERS

HOME Rochester buyers must meet income requirements and be first time homebuyers as defined by New York State. Please contact the City of Rochester, Home Buyer Services at 585.428.6888 to determine eligibility. Buyers will receive grants of varying sizes to reduce the purchase price of the property. The grants require the homeowner to live in the home as their primary residence for a period of 10 to 15 years. The grants may be secured by a second mortgage for the 10-15 year residency period. Grants are available to the RHDFC from several sources. The RHDFC reserves the sole right to determine eligibility for grants and to determine what grants, if any, may be used with a given home and buyer.

The buyer must obtain a mortgage to finance the purchase of the home. Home Buyer Services can provide assistance in securing an appropriate mortgage. Prior to signing a purchase and sale Contract, eligible buyers must obtain a pre-qualification letter from a mortgage lender.

Other regulations may impact a potential buyer's ability to purchase a property through HOME Rochester. Please contact Home Buyer Services at the City of Rochester to determine if you qualify

CONSTRUCTION MANAGERS

TheRHDFC uses non-profit community-based organizations to provide management and sales. Our partners include:

Ibero Development Corporation
Isla Housing and Development
Marketview Heights Neighborhood Services
NorthEast Area Development (NEAD)
NCS Developments Services
PathStone
Urban league of Rochester Economic Development Corporation

Each of these organizations may have exclusive listings of houses for sale at any given time.

RENOVATIONS

Properties are renovated to meet both federal Housing Quality Standards and City of Rochester Codes. All renovations are made to a standard specification developed locally with the assistance of The Enterprise Foundation. While the condition of each home dictates what specific renovations are neccessary, all homes are made lead-safe. The average property will receive a new furnace and hot water heater; new windows; a new roof; and an updated kitchen and bath.

Contracts have established credentials in home renovation and repair. Properties cannot be viewed, inspected or visited during construction as the sites may be contaminated by lead dust or other dangers. All visits must be scheduled.

FINANCING

HOME Rochester is financed through a unique consortium of for-profit and non-profit lenders. Under the leadership of JP Morgan Chase, a total of $57,000,000 has been made available to the RHDFC for purchasing and renovating single family homes. The current $16,000,000 participation loan consists of lenders with investments ranging from $500,000 to $3,000,000. The lenders are: JP Morgan Chase, HSBC, Citizens Bank, M&T Bank, Key Bank, City of Rochester, Enterprise Community Partners, Greater Rochester Housing Partnership and the United Way of Greater Rochester.

The City of Rochester provides financial assistance to the RHDFC for the administration and management of HOME Rochester.

copyright 2008
GREATER ROCHESTER HOUSING PARTNERSHIP