Wednesday, June 24, 2009

Mount Saint Mary/Saint Luke's Hospital Grant

Here's more information on applying for the Homeownership Incentive Grant from Mt. St. Mary and St. Luke's Hospital.

The grant is for $10,000 towards the downpayment/closing cost/renovation of your prospective home, if it is located within a certain radius of the college and hospital. It is basically within the boundaries of Robinson, North, Liberty and Broadway. Grants are first distributed to employees of either institutions, but the grant becomes available to community members in July (2009).

The grant is administered through Pathstone/Rural Opportunities. In order to be eligible, you have to meet the income requirements ($43,050 for a one-person household, $49,200 for a two-person, $55,350 for a three-person, $61,500 for four-person, etc.) and then attend the first-time homebuyer's course.

The next information session for the homebuyer's course is Monday, June 29, 2009. It takes place in Newburgh on 36 Chambers Street at 5pm.

The number for Pathstone/ROI is (845) 569-0770. For more information, there is a recorded message on ext.1.

Thursday, June 11, 2009

Plan B

Our new timeline:

Eddie finds a job *right now*!

Receive grant from Mt. Saint Mary College/St. Luke's Hospital ($10,000)
Receive RECAP grant ($24,000)

Apply for mortgage. This time, if we get the grants (to cover the 20% downpayment), we'll try for a traditional mortgage and renovation loan. Hudson Valley Federal Credit Union offered a great rate for that combined loan (less than 5.5%) and the closing costs were half what it is for an FHA loan. Plus, no mortgage insurance.

Close on the house. Maybe. Hopefully.

Monday, June 8, 2009

In the Meantime...

While Eddie is looking for a new job, I'm thinking of how to fill up blog posts until we finally get our house. I'm not qualified to write about much...maybe post pictures of my stamp collection or my japanese pen collection. I'm obsessed with these Hi-Tec-C Pilot pens:

Wednesday, June 3, 2009


Everytime I think we're going to get the house, something happens and I have to backpedal. Well, Eddie lost his job and now we have to postpone buying the house - once more. Hopefully something will turn up soon before it gets vandalized, again. There is already an emaciated pit bull chained to the backyard and signs of squatters in the carriage house.