Same As
Establishes the New York state first home savings program to authorize first time home buyers to establish savings accounts to buy their first home.
Establishes the first-time homebuyer assistance program within the state of New York mortgage agency to provide assistance to first-time homebuyers of certain residential units.
Establishes the first-generation homebuyer assistance program to provide a zero-interest, forgivable loan award in the amount of up to $15,000 to first-generation homebuyers.
Establishes the New York state first home grant program; directs the commissioner of homes and community renewal, in consultation with the state comptroller, to implement such program; provides assistance on behalf of a first time home buyer qualified for such program; and for costs in connection with the acquisition, involving an eligible mortgage loan, of an eligible home, including downpayment costs, closing costs, and costs to reduce the rates of interest on eligible mortgage loans; subsidies to make shared equity homes affordable to home buyers by discounting the price for which the home will be sold and to preserve the affordability of the home for subsequent home buyers; and pre-occupancy home modifications required to accommodate qualified home buyers or members of their household with disabilities; excludes the amount of any grant to any first time home buyer awarded or any federal first time home buyer grant program from taxable income for the purpose of calculating New York adjusted gross income.
Establishes the New American homebuyer assistance program within the state of New York mortgage agency to assist first time homebuyers by imposing flexible documentation guidelines that take into account foreign documentation of income and assets.
Establishes the New American homebuyer assistance program within the state of New York mortgage agency to assist first time homebuyers by imposing flexible documentation guidelines that take into account foreign documentation of income and assets.
Establishes a tax deduction for distributions from a family tuition account established under the New York state college choice tuition savings program used to pay student loans.