It has become common for a house to be filled with as many as 16 bedrooms.
Now, the Metropolitan Housing Authority (MHA) has the first auction house for these mega-rooms.
On April 3, the MHA will open the $2.4 billion, 15-story Skyline Apartments in Harlem’s Gowanus section, and the first-ever NYCHA home fair is set for June 14.
“We’re very excited to launch this new program that will help New Yorkers purchase and renovate their homes with their own money,” said MHA Commissioner Thomas DiMaggio in a statement.
“This is a great opportunity to educate New Yorkers about how their homes can be customized to meet their individual needs and wants.”
The MHA said the program is being offered as part of its New York City Homeownership Program, which helps homeowners purchase a house for the lowest price.
“The program will help owners of single-family homes, multi-family houses, condos and townhouses buy and renovat their homes to meet the needs of their residents and the city,” said DiMoggio.
“It will also help the community by encouraging families to get to know one another and sharing their dreams of buying their home with others.”
The program is also available to buyers who have a mortgage on their home, but are under the age of 30, have no income, and live in a low-income housing area.
The MDA said it will help to “enable homeowners to find homes with a lower loan payment, better security for their mortgage, and allow them to stay in their homes for longer and be more financially independent.”
It’s an exciting time for New Yorkers to be able to buy their own homes.
In 2014, the New York State legislature enacted a law that makes it easier for homeowners to get a loan and purchase a home.
In 2017, the federal government expanded the Home Affordable Modification Program to allow homeowners to qualify for a $100,000 down payment.
A number of states, including California, Hawaii, Illinois, Indiana, Kansas, Maine, Maryland, Minnesota, Missouri, New Jersey, Nevada, New York, Oregon, Rhode Island, and Washington, also passed laws allowing homeowners to apply for a loan to buy a home, as did the U.S. Department of Housing and Urban Development.
The Home Affordable Improvement Program will allow homeowners in the Lower 48 states to apply to purchase a new home.
A new state-wide mortgage-relief program called the Housing Affordability for All Program is also in the works.
It will provide homeowners with federal-aid loan forgiveness, a reduced mortgage payment, and a tax credit to help pay down their mortgage.
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