HomeFirst Down Payment Assistance Program
- What It Offers: Provides qualified homebuyers with up to $100,000 toward the down payment or closing costs on a 1-4 family home, a condominium, or a cooperative in one of the five boroughs of New York City.
- Eligibility: Must be a first-time homebuyer, complete a homebuyer education course, have their own savings for down payment or closing costs, and meet income eligibility requirements.
- Website: HomeFirst Down Payment Assistance Program
New York State Mortgage Agency (SONYMA) First Home Loan Program
- Offers 30-year fixed-rate mortgages with low-interest rates and down payment assistance loans up to $3% or $15,000 for first-time buyers.
- Website: https://hcr.ny.gov/homebuyers
Federal Home Loan Bank of New York (FHLBNY) First Home Club
- Offers down payment and closing cost assistance grants up to $7,500 for first-time buyers through participating lenders.
- Website: https://www.fhlbny.com/community/housing-programs/
- More details at https://www.fhlbny.com/community/housing-programs/first-home-club
New York City Department of Housing Preservation and Development (HPD) HomeFirst Down Payment Assistance
- Offers loans covering down payment, closing costs for first-time buyers purchasing homes in NYC.
- Website: https://www.nyc.gov/site/hpd/services-and-information/homefirst-down-payment-assistance-program.page
NYC HomeFix Program
- Offers loans up to $50,000 at low-interest rates for first-time buyers to make repairs and improvements when purchasing affordable 1-4 family homes in NYC.
- Website: https://www.nyc.gov/site/hpd/services-and-information/homefix.page
