Whether you are purchasing or refinancing, our team of experienced mortgage professionals will help determine your best options. With local decision making, you’ll get prompt approvals and our team is here for you throughout the process.
Ready to take the next step toward home ownership? Contact us via email or call 585.427.9200.
First-time Home Buyer Grants and Programs
GRB participates in a number of special promotions and lending programs designed to make the dream of owning a home more accessible.
Homebuyer Dream Program* (HDP)
**NOTE: We are awaiting details regarding Homebuyer Dream Program grants for 2021. If you are interested in the program, please check back at the end of January. We expect to have more details available then.**
GRB and the Federal Home Loan Bank of New York (FHLBNY) work together to provide grant assistance to qualified first-time homebuyers. The Homebuyer Dream ProgramTM provides grants of up to $10,500 towards the purchase of a home in New York.
* The Homebuyer Dream Program is a registered trademark of the Federal Home Loan Bank of New York. Additional program details will be forthcoming. Please work with your GRB Mortgage Loan Originator to discuss your specific situation.
University of Rochester – University Home Ownership Incentive Program
GRB is a proud participant in the University Home Ownership Incentive Program for University of Rochester employees. The program provides funds to University of Rochester employees purchasing homes near the university’s River Campus and Medical Center. This unique program could provide up to $9,000 toward the purchase of a home.
Use the map to the right to help determine whether or not a specific property qualifies for the program. Specific street addresses can be located by clicking on the upper lefthand corner of the map (highlighted in yellow below) and then selecting the appropriate neighborhood:
Before putting in a purchase offer for any property, buyers must verify property eligibility and program eligibility through the university’s Benefits Office at 585-275-0476 and complete a grant application through the City of Rochester.
Traditional Loan Programs
As rates rise and fall, the option to refinance a residential home mortgage can be an important tool for homeowners. Refinancing a higher-rate loan can reduce your monthly payment, free up cash for other purposes, or shorten the term on your loan. It’s important to keep an eye on interest rates long after you close on your home. Currently, the market is looking quite favorable for refinancing.
If you closed your loan more than a year ago and have an interest rate of 4.875% or above, refinancing could be beneficial. Contact our mortgage professionals for a free assessment. It takes just minutes to find out!
The standard of mortgage lending, conventional mortgages are best suited for buyers with high credit scores, and typically, higher amounts available for a down payment. Fixed rate mortgages are best if you are planning to stay in your home for the long term. For the lowest possible initial rate, or if you are planning to move or refinance in a few years, an adjustable rate mortgage (ARM) is a better option.
With low down payment requirements, help with closing costs, and flexibility with credit scores, a Conventional Plus mortgage is a good option for first-time homebuyers.
Federal Housing Administration (FHA) loans are federally insured and their low down payment requirements allow greater flexibility for buyers who may not meet conventional loan guidelines.
The HomeReady program offers an affordable option to both first time and repeat buyers, thanks to low down payments, flexible fund sources, and cancellable mortgage insurance.
Available to active duty and retired servicemen and women, U. S. Dept. of Veterans Affairs (VA) loans are federally insured, giving borrowers access to favorable terms.
Follow this link to pay for a VA appraisal online with GRB.
If your house is in a designated rural area and your income falls within certain limits, a U. S. Department of Agriculture (USDA) loan can help your family purchase a home.
If you are planning to purchase a larger, more expensive home, you’ll want to consider this special mortgage. Buyers must have strong credit scores and be able to afford larger down payments.
If you are building a home and need financing throughout the construction process, we can help.
For more information on any of these home loan programs, Contact Us.