2004-04-30 / Community

Senator Smith Urges Eligible Home Buyers

Senator Smith Urges Eligible Home Buyers

Senator Malcolm A. Smith today urged all eligible and interested homebuyers to promptly submit a request to Community Homes Housing Development Fund Corporation (HDFC) for a homeowner application.

HDFC is part of the State’s Division of Housing and Community Renewal program that works to increase the supply of low-income housing accommodations.

Applications are being accepted for several one, two, and mix use family homes, prices ranging from $304,000 to $570,000. The Queens lawmaker said these homes are in various neighborhoods in Queens and that all eligible buyers must prove the financial ability to purchase the home. Purchasers would be required to provide a minimum down payment of 2% of the purchase price, and qualify for Fannie Mae or Freddie Mac conventional mortgage financing. While there are additional selection criteria for eligible buyers, broker’s fee and application fee will be waived.

"HDFC is providing buyers with an opportunity to own a safe, decent, and affordable place to call home," said Senator Smith. "I urge those interested to act quickly".

To receive an application, interested individuals may send a self-addressed and stamped envelope to Community Homes HDFC P.O. Box 141, New York, NY 10002. Completed applications must be postmarked by May 15.

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