If your organization has enrolled as a corporate partner with the Long Island Housing Partnership’s Employer Assisted Housing Program (EAHP), Long Island Guardian Grants will satisfy the "employer" required contribution of $3,000 net to each eligible employee (volunteer) who purchases a home.
This contribution satisfies the employer matching requirement of the EAHP giving you access to monies from federal and state sources to assist you with a down payment. In addition, you may qualify for funds to help you fix your home with a rehabilitation grant. Applicants may receive up to $26,000 in down payment assistance and $24,000 for repairs if eligible for Category I (at or below 80% of the Area Median Income) and up to $9,000 in down payment assistance and $14,000 for repairs if eligible for Category II (at or below 120% of the Area Median Income). Both categories will still receive employer contribution.
Do not start looking for a home until you know you are fully qualified by your employer and LIHP.
If you are interested in participating in the program you must speak to the human resources department or your supervisor. You must first qualify for your employer's program to get the employer's grant.
Your employer will contact LIHP, in writing, with your information.
When LIHP receives the letter from your employer, LIHP will send you an application and guidelines for the program.
You must fill out the application and provide all the documentation requested. When completed, please return it to LIHP.
When your application is received, it will be reviewed for all the program requirements and, if eligible, a letter of 'eligibility' will be sent to you, stating what category you are eligible for. You will also need to attend a group sessions and mortgage counseling session, by LIHP. These sessions will help assist you in understanding the home-buying process. Please allow two hours for each of these sessions.
After your mortgage counseling appointment, you will be fully informed of the process and of all the grants you may be eligible for. You will need to contact a lender to obtain a pre-approval, they will let you know what you will be able to afford. Don’t forget to let them know which grant programs you are eligible for.
When you have found a home, contact LIHP and follow the process given to you by the program manager. Once all required documents are in, all funds will be requested. Please allow 2-4 weeks for all funding’s to arrive at LIHP. Once the funds arrive at LIHP, the program manager will request the employer contribution. At this time, they will need to notify their lender and attorney to start scheduling a closing date. Please note: All funding’s will be presented at closing.
The Long Island Housing Partnership will work with you throughout the whole process and help you, in every way possible, to make your home-buying experience satisfying and successful.
LIHP is an independently owned and operated non-profit 501 (c) (3) housing agency. LIHP has no obligation to fund any application assisted by or through Long Island Homes for Heroes. All LIHP EAHP program guidelines and requirements must be met and applicants will be reviewed on a first-come, first-served basis, subject to funding availability.
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