Young girl high-fiving an older man on a flyer that promotes SmartMovesNY loan program

RUPCO is partnering with Ulster Savings Bank and M&T Bank in accessing the SmartMove New York loan that helps first time homebuyers overcome the obstacles of downpayment and closing costs. We can help homebuyers secure this loan available through the Housing Development Fund (HDF). Participating homebuyers may be able to put down as little as 1% of the purchase price because of SmartMove New York’s low interest loans!

If you qualify for a SmartMove loan, you can also participate in the NY Statewide Downpayment Assistance Program and receive $10,000 in the form of a 30-year, 0% interest loan for downpayment/closing costs. Limited statewide funds remain, so be sure to apply soon to build an affordable, sustainable homeownership plan!

A SmartMove New York loan is a 3% (APR = 3.42% to 4.74%) second mortgage for up 20% of the home purchase price. There is an origination fee of 3.75% for SmartMove New York borrowers, paid at closing. SmartMove New York loans can be combined with RUPCO’s and HDF’s other downpayment assistance programs to increase your downpayment and cover closing costs. You must spend down to $25,000 in liquid assets before closing, which does not include retirement savings/401(k).

For more information about how RUPCO can assist you in your home purchase in Ulster, Orange, Greene and Sullivan Counties, click here to get started with our  Homeownership Center or call the office at (845) 331-9860.

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