HAPI Program

Homebuyer Asset Protection Initiative (HAPI

There are many paths to homeownership, particularly in Rochester.  If you are thinking of buying a home in the city of Rochester without a bank mortgage (private financing, rent-to-own, etc.), we can help!

HAPI is just that, a protection program - It provides education, expertise, and grants to help you protect your investment.  If you have figured out a way to buy a house on the private market, we can offer the same sort of protections that banks use to make sure they don’t lose the money they invest when making mortgages.

 

Traditional Homebuyer Assistance Programs

Homebuyer Asset Protection Initiative – HAPI (Pilot)

Expanded HAPI

(based on potential funding sources)

Benefits

Closing Cost Assistance

Yes

Yes – for Legal Services

Yes – for Legal Services, Appraisal, Survey

Down Payment Assistance

Maybe

No

No

Low-interest mortgage

Maybe

No

No

Home Inspection Reimbursement

No

Yes

Yes

Home Repair Assistance

Maybe

No

Yes – through post-sale matching grant

Requirements

Ability to qualify for a Mortgage

Yes

No

No

Credit Check

Yes

No

No

Minimum Income Requirement

Maybe

No

No

Maximum Income Requirement

Varies

≥ 100% AMI – see table below

≥ 100% AMI – see table below

Private (non-bank) financed purchase eligible

No

Yes

Yes

Ongoing Residency Requirement

Yes

No

No

Verification of Employment

Yes

No

No

 

2021 HUD 100% AMI Income Limit by # of People in Household

Household Size

1

2

3

4

5

6

7

8

100% AMI

$58,250  

$66,550

$74,900

$83,200

$89,850

$96,500

$103,150

$109,800

Apply for the HAPI program HERE

 

This is a joint initiative funded by Enterprise Community Partners Community Revitalization Grant and made possible through the partnership of:

  • Consumer Credit Counseling Service of Rochester
  • Ibero American Action League
  • The Mayor’s Office of Community Wealth Building
  • Rochester Land Bank Corporation
  • Urban League of Rochester

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