—- FOR IMMEDIATE RELEASE —-
UNIVERSITY NEIGHBORHOOD HOME IMPROVEMENT LOAN
Interest Rates as Low as 2.99% (APR* 3.07%)
FOR ELIGIBLE HOMEOWNERS!

Your University Neighborhood Home Improvement Loan is an affordable way to quickly access the money you need to make exterior home renovations and repairs … even if you have built little or no equity in your home.

This loan program offers you:

• Financing of up to $10,000 (determined on a case by case basis)
• No Income Requirements
• Low interest rate and closing costs
• Low fixed payments
• No pre-payment penalty
• Your choice of contractor (must have general liability and worker’s comp insurance)
• Most exterior home renovations and repairs are eligible

*You are eligible for this program if you own and occupy a property in the boundaries of the UNPA Home Buyers Assistance Program Area (See map or call (315) 474-1939 x241 for more details). Eligible participants must also be current on their property taxes and water bills.

Apply today by filling out the application**. The process can start in as little as 24 hours, if you make sure to also include the following documentation:

• Recorded deed to your home
• Current homeowners insurance stating period covered and amounts of coverage
• Proof of income for applicant (copies of three current consecutive pay stubs, SSI benefit letter, social security, pension, unemployment, etc.)
• Last year’s federal tax return (if filed)
• Driver’s license or other form of picture identification
• Lead test results for children under seven who reside in the home

Mail, drop off, email, or fax your application to:

Home HeadQuarters, Inc.
124 E. Jefferson Street
Syracuse NY 13202
Fax: (315) 474-0637
Phone: (315) 474-1939
Email: info@homehq.org

Your University Neighborhood Home Improvement Loan will not only make a lasting impact in your neighborhood, it also leverages other community development dollars that guarantee continued funding for revitalization and growth in Syracuse.

The interest rate for Home HeadQuarters’ FlexFund Home Improvement Loan is 6.99%. With funding provided by The University Preservation Association (UNPA), the 6.99% interest rate is reduced to a 2.99% rate (3.07% APR) for a period up to 7 years.

You may also qualify for other Home HeadQuarters’ products and services including the NYSERDA Home Energy Loan and Grant program.

*Annual Percentage Rate

**Downloads (pdf format):   Loan Application    Loan Letter

NEW INCENTIVES DEFINED FOR HOMEBUYERS ASSISTANCE PROGRAM

The University Neighborhood Preservation Association (UNPA) announces changes to its popular Homebuyers Assistance Program. Attractive new incentives have been designed to aid owner-occupant buyers interested in homes on streets closest to Syracuse University and Thornden Park, as well as the Westcott Street business district, while allowing continued support of homebuyers in the entire UNPA service area. This one-year pilot project provides specific levels of assistance for each of three areas designated within the greater University neighborhood.

Based on the availability of funds, the Homebuyer Assistance Program will now offer grants of $4,500 for properties located closest to Syracuse University and Thornden Park, and $2,500 for properties in the general vicinity of Westcott Street. Grants of $1,500 will be available for purchase of homes in the remainder of the UNPA neighborhood. [The boundaries for the three areas are described below, and a map is available that delineates these areas.] There are no income requirements for applicants, and funds are awarded as deferred loans, meaning there is no pay-back requirement if the buyer remains an owner-occupant of the property for at least 10 years.

UNPA has provided assistance to over 500 homebuyers with grants and loans totaling over $1.2 million since its inception in 1990 as a 501(c)(3) not-for-profit mortgage assistance corporation. UNPA’s mission is to promote the University neighborhood as a good place to live, to foster owner-occupancy of properties, and provide financial incentives to do so.

Boundaries for program grant areas:

Area 1: Area 1 is bound by the residences on either side of the following streets: Comstock Avenue from East Colvin Street to East Genesee Street, thence to Westcott Street, thence to Euclid Avenue, thence to Lancaster Avenue, thence to Broad Street, thence to Ackerman Avenue, thence to Stratford Street. Area 1 would be eligible for grants of $4,500.

Area 2: Area 2 is bound on the west by the eastern boundary of Area 1, on the north by the UNPA neighborhood boundary, on the east by the UNPA neighborhood boundary to the intersection of Westmoreland and Houston Avenues, thence by the residences on either side of the following streets: Westmoreland Avenue to Euclid Avenue, thence to Fellows Avenue, thence to Broad Street, and thence to the boundary of Area 1. Area 2 would be eligible for grants of $2,500.

Area 3: Area 3 is bound on the north, east, south, and west by the boundaries of Areas 1 and 2. Area 3 would be eligible for grants of $1,500.

If eligible, applicants can receive up to an additional $125 to apply toward attorney fees accrued during closing.

To learn more about the UNPA Grant Program, please read our Frequently Asked Questions or contact us anytime.