With mortgage prices increasing and the real estate market fluctuating, Faith Moore of housing provider RUPCO says now is the time to help first-time homebuyers find a place to call their own.

“Housing matters always, but even more now than ever," she said. "Interest rates are sky high and mortgage prices are high or higher. And it's hard to for a family to be able to afford a mortgage.”

Moore says the housing crisis is affecting New Yorkers across the state. According to the Population Reference Bureau, more than half of renters in the state spend at least 30% of their income on rent.

Home ownership can be cheaper on a monthly basis, but closing costs and down payments can be overwhelming. That’s why the city of Kingston is working with RUPCO to help first-time homebuyers.

“Save on interest by having lower closing costs by buying down the principal payment, helping with appraisal," Kingston Mayor Steve Noble said. "And so hopefully, you know, this is going to help some new homeowners be able to make it work here in Kingston.”

The program will provide $50,000 to up to six first-time homebuyers in the city. Applicants in Kingston must make an annual income of $44,000. Moore says housing counselors review applications and then choose qualifying people.

“They will give you a shopping certificate so that you can go out and start looking for your home," she said. "You would bring that to your mortgage broker to get your mortgage qualification and then to your realtor to start looking.”

Noble says having RUPCO educate first-time homebuyers and not just provide funds, is a huge help. He said it’s a model that can work across the state if funds are made available.

“We have an educational partner who is really helping to guide these future homeowners so that they can be successful," Noble said. "And that's why we think that these partnerships are so important.”