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In 1989, the Capital Affordable Housing Funding Corporation was formed to ease the affordable housing problem in Albany County. In the Watervliet Housing Authority, we began to work on assisting our tenants with the Home Buyer Program in 1994.

Are you thinking about home ownership?
The Watervliet Housing Authority takes great pride in being able to help you do so! Our Authority will give our tenants/section 8 tenants $5,000 towards the closing cost on the home they are going to purchase.

The house can be either a 1 or 2 family home but must be located in the City of Watervliet. We can pay for costs like home inspections, appraisals, and other normal costs that need to be paid at the time of the closing. The tenant must be in good standing with the authority, rent paid up to date and no pending violations of the lease.

As well as the Watervliet Housing Authority, there are many associations in the area that can help you learn about home ownership. Being connected to as many community resources that deal with home ownership is highly recommended. 
  • Albany County Rural Housing Alliance, Inc. (ACRHA) offers online (available through their website) and in person (every other month on a Saturday) pre-purchase education classes on home ownership. They also offer post-purchase in person classes for those that have closed and lived in a home for several months.  Contact 765-2425 for more information or visit


  • ACRHA also offers down payment assistance grants.  Eligibility requirements include:
    • Meet income maximum guidelines
    • Purchase a home within a specific target area in Albany County
    • Provide  a $1500 contribution toward the purchase plus the cost of home inspection, earnest deposit, and other upfront costs such as the $150 counseling fee
    • Investigate credit report and make all necessary repairs.  A credit score of 680 or higher with no major collections is required.
    • Able to qualify for enough of a mortgage to purchase a home
    • Obtain a safe mortgage with a descent interest rate (a mortgage with a high interest rate found over the internet will not be approved.)
    • Attended Home Buyer Education class
If you have/completed each of the above, you may be eligible for the grant and should apply for it.
For more information, visit or contact Stephanie Galvin-Riley at (518)253-3920.