The Equitable Ownership Program (EOP) supports first-time homebuyers in Albany County by offering affordable homeownership opportunities, reduced purchase costs, and hands-on guidance — all with the goal of building stronger, more equitable neighborhoods.

EQUITABLE OWNERSHIP PROGRAM (EOP)

WHO CAN APPLY?

To qualify for the EOP, applicants must:

  • Be a first-time homebuyer
    (No ownership in a primary residence within the last 3 years — as defined by HUD)

  • Have a household income between 50% and 80% of the Area Median Income (AMI)

  • Plan to purchase a participating EOP property

  • Complete HUD-approved homebuyer education and landlord training (if applicable)

  • Preferably live within the Program Area (see below)

INCOME ELIGIBILITY

(Per HUD guidelines)

PROGRAM BENEFITS:

Qualified applicants who purchase a participating property may receive:

  • Discounted purchase price

  • Reduced closing costs

  • Assistance with:

    • Legal fees

    • Title insurance

    • Water bills

    • Delinquent taxes

Buyers are also paired with a rehab specialist to provide guidance and mentorship throughout the process.

WHERE’S THE PROGRAM AREA?

Participating EOP properties will be located in:

  • Albany’s Focus Neighborhoods:

    • South End

    • West Hill

    • West End

    • Sheridan Hollow

    • Arbor Hill

  • City of Cohoes

  • City of Watervliet

Properties selected for the program typically include:

  • 1–2 family homes
    (2-family homes must be owner-occupied)

  • Homes requiring low to moderate rehabilitation

PROGRAM SPOTLIGHT

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AVAILABLE RESOURCES

PARTICIPATING
PROPERTIES

There are currently no participating properties in the EOP program. Check back later for new participating properties.