City of Binghamton HOME Rehabilitation Program

How it works

The City of Binghamton’s HOME Rehabilitation Program provides deferred renovation loans with no monthly payments and no interest for eligible owner-occupants of single-unit structures. The city says the maximum loan amount is $25,000 per project, plus additional funds needed for lead hazard mitigation.

What the money covers

The city says the renovation scope is prioritized as follows:

• Addressing New York State Uniform Building Code, electric, and/or plumbing violations
• Lead and/or asbestos hazard mitigation
• Energy efficiency improvements

The city also describes the program as helping homeowners make their homes “decent, safe, and energy efficient.”

Amounts and repayment

• Maximum loan amount: $25,000 per project
• Additional funds may be available for lead hazard mitigation
• No monthly payments
• No interest
• If the property is sold or transferred within 5 years, 100% of the loan becomes due
• After 5 years of owner-occupancy, the amount owed is reduced to 40% of the original loan amount

How to apply

The city says interested homeowners should contact the Planning, Housing and Community Development Office at (607) 772-7028 for help with the Energy Efficiency Program or download the application from the city website.

Other notes

The city says project properties will have a safety inspection for code, plumbing, fire, electrical, and lead risk. It also says properties must be current on property/school taxes and sewer/water fees, must have proof of homeowner insurance, and applicants must be able to verify income sources.