Moving Couple with Dog

Affordable Housing Programs

Let’s talk it over. You may be able to afford your own home after all. We can help you access a number of government-sponsored and other affordable housing programs designed for the non-traditional homebuyer, for just about any kind of property you’re considering.

Just starting out? Fill out this form for a free consultation.

For promotions in your area,
select your nearest CBNA location.
Affordable housing programs include:
  • Mortgages for modular homes or double- and single-wide mobile homes with permanent foundations on owned land.
  • No closing cost mortgage options, ideal for first-time homebuyers and those with limited savings. Whether your household is expanding or you want to upgrade your living space, the savings can add up to thousands of dollars.
  • HomeReady® from Fannie Mae offers expanded eligibility and is designed for creditworthy low- to moderate-income borrowers. It allows co-borrowers who don’t live in the home, such as parents, relatives or others who want to help, to be included on the mortgage. You can get started with a down payment as low as 3%, and the down payment and closing costs can be paid from sources other than your own funds.
USDA Loans

These government-backed loans are primarily intended to help lower-income individuals or households purchase homes in rural areas. Significantly, USDA loans offer 100% financing to qualified buyers and allow for all closing costs to be either paid for by the seller or financed into the loan. To qualify, properties must be located within the United States Department of Agriculture (USDA) RD Home Loan "footprint." The funds may be used to purchase an existing single-family dwelling. Talk to a Community Bank mortgage specialist to determine if you or your intended property qualify. Income and other limitations may apply. Call or email your local mortgage banker or stop into your local Community Bank branch.

Key Features:

  • Zero down payment
  • For owner-occupied and single-family homes
  • Property must be in eligible rural area (as defined by USDA)
  • Up to 102% loan-to-value ratio
  • Seller can contribute up to 6% of sales price to be used for closing costs and pre-paid interest and tax escrows
  • Income and other limitations may apply
Local Affordable Home Loan Programs

Community Bank participates in other local affordable housing agencies in New York, Pennsylvania, Vermont, and Massachusetts. In conjunction with these programs, borrowers may qualify for a Community Bank Affordable Loan. This product does not require mortgage-related closing costs to be paid by the borrower and offers an interest rate below the bank’s standard no closing cost mortgage loan.