Homebuyer HQ

Homebuyer HQ is your starting point for affordable homeownership solutions.

Buying a home is a milestone, and having the right guidance can make all the difference. At Solvay Bank, we’re committed to making homeownership attainable for everyone. Discover homebuyer requirements and next steps to help you prepare, apply, and succeed as a homeowner! When you’re ready to move forward, contact one of our Mortgage Loan Officers.

You can call us at 315-484-2205 or email [email protected] to get started on your homeownership journey today!

Homebuyer Dream Program® Suite 

We offer three grant programs designed to help you cover your home’s down payment, closing costs, and homeownership counseling expenses. These programs help make homeownership more attainable: the Homebuyer Dream Program®, the Homebuyer Dream Program® Plus, and the NEW Homebuyer Dream Program® Wealth Builder.  

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Homebuyer Dream Program® Requirements

The Homebuyer Dream Program® is available if you: 

  • Are a first-time homebuyer or have not owned a home in the last three years (except for single parents and displaced homemakers who own only a primary residence with their spouse)
  • Meet income eligibility requirements, including a household income at or below 80% of the area median income (AMI) in the county where you are purchasing a home
  • Provide at least $1,000 down payment towards the purchase of the home
  • Complete a homeownership counseling program

Homebuyer Dream Program® Plus Requirements

The Homebuyer Dream Program® Plus is available if you: 

  • Are a first-time homebuyer or have not owned a home in the last three years (except for single parents and displaced homemakers who own only a primary residence with their spouse)
  • Meet income eligibility requirements, including a household income greater than 80% of the area median income (AMI), but not exceeding 120% AMI in the county where you are purchasing a home
  • Provide at least $1,000 down payment towards the purchase of the home
  • Complete a homeownership counseling program

Homebuyer Dream Program® Wealth Builder Requirements

The Homebuyer Dream Program® Wealth Builder is available if you: 

  • Are a first-time homebuyer or have not owned a home in the last three years (except for single parents and displaced homemakers who own only a primary residence with their spouse)
  • Meet income eligibility requirements, including a household income equal to or less than 120% of the area median income (AMI) in the county where you are purchasing a home
  • Reside within a majority-minority census tract, or qualify as a first-generation homebuyer
  • Provide at least $1,000 down payment towards the purchase of the home
  • Complete a homeownership counseling program

How to Get Started with a Program

1. Make an appointment with a Mortgage Loan Officer.

At your appointment, if qualified, you’ll sign the Enrollment Terms & Conditions which outlines the program requirements. You will also need to bring:

• Most recent 30 days of pay verification (paystubs, Sch. C, SSI, etc.)
• Last 2 years’ FEDERAL tax returns
• Last 2 years’ W-2s for all employment
• Most recent Bank Statements/Asset Accounts (two months for each account)

2. Complete an approved homebuyer education course. 

The course can answer questions about the home buying process and prepare you for purchasing a home.

3. Qualify for a Solvay Bank mortgage.

Your Mortgage Loan Officer will guide you through this process to see if you qualify for this mortgage. If approved, at closing you will also sign a subordinate mortgage for the Homebuyer Dream Program® grant. Your grant term is forgiven after five years; however, if your home is sold prior to five years, under certain circumstances, you may have to repay all or a portion of the grant.

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Homeready™ Mortgage Program 

At Solvay Bank, the Homeready™ Mortgage Program is a low down payment mortgage designed to help serve today’s creditworthy low-income borrowers. Contact one of our Mortgage Loan Officers to see if you qualify. 

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Onondaga County Homeownership Program

The Onondaga County Homeownership Program purchases, rehabilitates, and sells single-family homes at a subsidized price to qualifying homebuyers. As a partner lender in this Program, we offer mortgage financing options to qualified applicants. Onondaga County determines the eligibility for the grant. 

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Syracuse University Mortgage Program 

Solvay Bank partners with Syracuse University to offer exclusive mortgage options for university employees purchasing owner-occupied homes in eligible areas. If you qualify for this program based on the information provided, contact the Solvay Bank Mortgage Team at 315-484-2205. 

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Qualifications

  • One applicant must be a regular part-time or full-time faculty or staff member of Syracuse University
  • Borrowers can finance up to 100% of the home's purchase price and receive the best available mortgage interest rate
  • Property must be located within eligible areas* around Syracuse University
  • Loan may be eligible for other homeownership programs
  • Borrowers may be eligible for a forgivable home improvement loan up to 10% of the home's purchase price
    • Maximum loan amount: $15,000
    • Must apply within 12 months from mortgage closing
    • Borrower is responsible for interest payments only
  • The entire mortgage process is handled within Onondaga County—from application to processing to underwriting to closing to servicing
  • Mortgage loans are subject to credit approval

Do you qualify for this program? Contact the Solvay Bank Mortgage Team at 315-484-2205.

* Eligible Area means the East Neighborhood Special District, the Outer Comstock Neighborhood, an area in the City of Syracuse bounded by Erie Boulevard on the north, Interstate 81 on the west, and East Adams Street on the south, Comstock Avenue, Madison Street and the west and northern boundaries of the East Neighborhood Special District on the east, and an area in the City of Syracuse bounded by Seymour Street on the north, Onondaga Creek, Midland Avenue, and Kirk Park Drive on the west, West Lafayette Avenue and West Brighton Avenue on the south, and Interstate 81 on the east, constituting the area in the city of Syracuse, New York.

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