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Programs | Eligibility | Application
The Economic Opportunity Council of Suffolk, Inc. (EOC) has been a HUD approved housing counseling agency since 2000. EOC’s Housing Counseling Program provides one to one homeownership counseling, budget and credit counseling as well as financial resources to individuals and families striving to achieve their dream of homeownership. A certified housing counselor provides the educating needed for prospective homebuyers to gain the knowledge and skills needed to successfully achieve the American Dream. A housing counselor prepares a homeownership action plan with each prospective buyer to assist them in eliminating obstacles to achieving homeownership.
EOC’s HUD approved Affordable Housing Program develops affordable housing for low-moderate income families. Affordable housing opportunities are created by acquiring distressed single family properties from local municipalities for rehabilitation and sale to qualified first time homebuyers. Grant subsidies acquired by EOC are applied to the development costs of these properties making them affordable to the low income first time homebuyer
First Home Club:
EOC administers the First Home Club saving program for Astoria Federal Saving and HSBC Bank. The First Home Club provides down payment and closing cost assistance by granting four dollars in matching funds ( up to $ 7,500 in matching funds ) for each dollar saved by the eligible first time homebuyer. The eligible first time homebuyer must deposit funds in a dedicated savings account and purchase a home through one of the two participating lenders. Applicants must be first time homebuyers and fall within the income guidelines of the program. Nassau and Suffolk Counties income limits are: $ 75,040 for a household of 1-2 people and $ 86,296 for a household of 3 or more persons. Participation in the program is a minimum of 10 months to a maximum of 24 months.
EOC Purchase Assistance Program provides assistance with the purchase and rehabilitation of single family homes for homeownership in Suffolk County NY. The homes are acquired and developed by EOC and sold to qualified first time homebuyers. Buyers must remain in the home a minimum of 10 years.
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