First-time buyers and renters are at a major disadvantage in today's high-cost housing market, particularly in competitive metros such as New York City. Luckily, a free expo by the nonprofit group, the Housing Partnership, seeks to educate buyers and renters about housing assistance opportunities available in NYC. The expo will take place on June 10 at the CUNY Graduate Center in Midtown.
Those in attendance will also be introduced to the organization's federal Housing and Urban Development-approved housing counseling program—a requirement for those seeking an array of down-payment and closing-cost assistance programs, Patch reports.
Industry experts in lending, legal and real estate will share with first-time homebuyers a mix of market insights and tips and tricks to successfully navigate the housing market and buying process, said Emily McIntosh, Director of Homeownership Education at the Housing Partnership.
McIntosh said that homebuyers can have access anywhere between $5,000 to $100,000 in downpayment and closing cost assistance from the HUD funded but city administrated HomeFirst Program, which covers 20% of the purchase price up to $100,000 — plus a minimum equity contribution of at least three percent.
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