First-Time Homebuyer Grant

First Time Homebuyer Class

When you start shopping for your dream home, you may have a few – or a lot – of questions about the home buying process. North Country Savings Bank to the rescue! To help you get the answers you need, we've partnered with The Housing Council to create the First Time Homebuyer Education class, which provides mortgage advice to help first time homebuyers navigate the mortgage process. These monthly classes focus on the broad and finer points of the home buying process, including the benefits of a Private Mortgage Insurance (PMI), uses of credit, and working with real estate agents.

To obtain additional information or to register you can call the North Country Housing Council office at 315-386-8576, or contact North Country Savings Bank.

Tips for First-Time Homebuyers

The video series below provides answers to frequently asked questions and important information potential borrowers will need regarding the program. Information contained in the videos is subject to change. 

We've also compiled a list of common mortgage questions and answers for potential new homeowners. Contact your local North Country Savings Bank Loan Originator for more information, or begin the prequalification process and apply for a mortgage online.

First-Time Homebuyer Grant

The First-Time Homebuyer Class is hosted by the North Country Housing Council and provides new homebuyers with facts and advice about purchasing a home. It is also a requirement for anyone applying for the First Time Homebuyers Home Ownership Grant, which is available to income-eligible individuals residing in St. Lawrence County.

How do I qualify for the First Time Home-buyers Home Ownership Grant?
Qualification for the grant is based upon your income level and the number of people currently residing in your home.
What does the First-Time Homebuyer's grant cover?
The grant money covers the required 20% down payment and some closing costs.
Does North Country Savings Bank offer an incentive to take the First-Time Homebuyer's class?
Yes, we offer a rate discount towards your mortgage loan if you complete the class.
How much does the First-Time Homebuyer's class cost?
The class costs $75 per person and cannot be paid in cash. Checks should be made out to SLCHC.
How long is the First-Time Homebuyer's class?
Each class is held once a month from 9 a.m. to 3 p.m. You only need to attend one class.
Is there a time limit after the completion of the First-Time Homebuyer's class to apply for the grant?
Your income approval is eligible for 6 months with the North Country Housing Council. The certificate of completion for the class is eligible for two years.
Are there any types of homes I cannot purchase through this program?
You cannot purchase a home with more than two acres or an in-ground pool, a waterfront home or a manufactured home (single- or double-wide).
Are there any limits on the purchase price of the home?
The purchase price of the home cannot exceed $80,000.
Am I required to pay the grant money back?
If you live in the home for 10 years you are not required to pay the grant funds back. If you sell the home earlier you would be required to pay back a portion of the grant funds dependent on the number of years you lived in the home.

First Time Home Buyers Gallery