Home in the City Mortgage Program

Own A Home In Your City

Home ownership is possible with our special homebuyer program. Our Home in the City Program offers an incredible opportunity for first-time homebuyers and those looking to downsize to get an affordable mortgage. This program partners with select cities, real estate offices and non-profit organizations to offer additional support.

Some program features¹ include:

Low down payments
No mortgage insurance
Reduced interest rates

Own a home in your city with our experienced Mortgage Originators who are ready to assist you with reaching your goals of homeownership.

Older couple on laptop

Program Highlights

95% financing for a 1- or 2-family owner occupied residence.
A 30-year mortgage will be offered with a fixed rate priced at .25% below our daily posted interest rate for first-time buyers.^{2, 3}
Maximum annual household income of 120% of local median household income for 2022.
No mortgage insurance is required.
The borrower must open an NBT Bank checking account and have the mortgage payment automatically deducted from that account.

The borrower must establish an escrow account with NBT Bank. A deposit will be made to this account with each mortgage payment. The funds will be used to cover real estate taxes and insurance.
The borrower must complete homebuyer counseling prior to closing and supply a copy of the certificate of class completion to NBT Bank.

¹Offer subject to additional terms and conditions. Eligible properties are limited to those within designated city limits.

²EXAMPLE: The discounted rate on a 30-year fixed-rate mortgage of $60,000 for a first-time homebuyer completing the required education would be an Annual Percentage Rate (APR) of 4.304% and would result in 360 monthly payments of $290.79. Payments do not include amounts for taxes and insurance premiums. Actual payment obligations will be greater.

³EXAMPLE: The discounted rate on a 30-year fixed-rate mortgage of $60,000 for other qualified, but non-first-time buyers would be an Annual Percentage Rate (APR) of 4.558% and would result in 360 monthly payments of $299.57. Payments do not include amounts for taxes and insurance premiums. Actual payment obligations will be greater.