for Homebuyers

When you buy a home, it pays to expect the unexpected. Adirondack Roots can help you learn what’s in store—and even provide a subsidy to help you shoulder some of the expenses you’re bound to face, from mortgage closing costs to necessary repairs.

homebuyer counseling

Buying a home is one of the biggest financial decisions a family will ever face. Start with homebuyer education classes through eHomeAmerica, then work one-on-one with Adirondack Roots’ HUD-certified housing counseling team to create a plan to get into a home of your own. No matter your income level, our housing counselors can help you improve your credit score, create a budget, and learn about different types of mortgages.

homebuying financial assistance

First-time homebuyers may be eligible for financial assistance with down payments, closing costs and potential home repairs. If you are looking to buy a home in Clinton County or Essex County in New York and you earn less than 80% of your county’s median income, you may qualify for a deferred-payment loan that can bring homeownership within reach.

Get an Application Packet

Who is eligible?

The program is primarily limited to first-time homebuyers. You may also qualify if:

You or your spouse have not owned a home for the past three years.
You are a displaced homemaker – somebody who worked in the home without pay and have suddenly lost your means of financial support.
You are a single parent who owned a home jointly with your spouse, or lived in a home owned by your spouse.

What are the income limits?

Income limits vary depending on the size of your household.

Household Size	Clinton County	Essex County
1	$45,000	$42,950
2	$51,400	$49,100
3	$57,850	$55,250
4	$64,250	$61,350
5	$69,400	$66,300
6	$74,550	$71,200
7	$79,700	$76,100
8	$84,850	$81,00

“Median income” is the figure above which half the county’s residents earn more, and half earn less.

What are the terms of the loan?

The loan requires no monthly payments and accrues no interest. However, if you sell the property within 10 years, you must repay a portion of the funds received.

both meadow trail

Our four new, single-family homes in Keene, N.Y. are aimed at moderate-income families. These homes will be sold as primary residences and will be part of the Adirondack Community Housing Trust—which means they will remain affordable forever.

Get an Application Packet

What is the sales price?

The four Both Meadow Trail homes will be offered at approximately $160,000, depending on final construction costs and how much subsidy each buyer qualifies for.

What are the income limits?

Income limits vary depending on the size of your household.

Household Size	Income Limit
1	$72,480
2	$82,800
3	$93,240
4	$103,560
5	$111,840
6	$120,120

What are the homes like?

These new homes feature:

Modular construction, Cape-style residences
Unfinished basement and second floor
Two bedrooms and bathroom on first floor (about 900 square feet)
Heating and cooling provided by energy-efficient air source heat pumps

Sale price: $156,488

What is the timeline?

July:

Construction begins on Homes 1 and 2
Homebuyer application period opens

September:

Construction begins on Homes 3 and 4

October:

Homes 1 and 2 complete and available for sale

December:

Homes 3 and 4 complete and available for sale

What is the Adirondack Community Housing Trust?

Buyers of Adirondack Community Housing Trust houses own their homes while the trust owns the land. Homeowners pay $300 a year to lease the land under their house, as well as annual property taxes. This shared-equity model helps us offer these homes at below-market prices, as does support provided by the New York State Affordable Homeownership Opportunity Program.

To ensure these homes remain affordable in the future, resale prices are limited by formula and buyers must meet income restrictions.

How can I apply?

Complete the Adirondack Community Housing Trust application
Complete the Homebuyer Counseling application
Return both completed applications to Adirondack Roots, 103 Hand Avenue, P.O. Box 157, Elizabethtown, NY 12932, or fax to (518) 873-9102

Selected applicants must provide additional income verification, complete the E-Home Homebuyer Education Course at a cost of $99, and complete HUD-certified homebuyer counseling as provided by Adirondack Roots or our partners. In addition, selected applicants must secure mortgage preapproval.