These programs can only be handled by approved lenders. If you would like help from a local realtor familiar with the programs and lenders, fill out this form here and I will connect you with one.

New York

Hey there! If you're thinking of buying a home for the first time, and haven't saved up for a down payment, you still might be able to get it done.

Before I jump into the programs, let me briefly explain how down payment assistance works.

How it works

Down payment assistance comes in two forms: a grant, or a loan

A grant doesn't require repayment.

A loan does require repayment, but there are 3 different ways:

Monthly repayment. This is where they charge you interest and a monthly payment until the loan is paid off

Silent second. This is where they don't charge you interest, they don't charge you monthly payments, they just require that you pay it back when you sell the home.

Forgivable. This is where they forgive the loan as long as you meet certain criteria. A common requirement is that you live in the home as your primary residence for a set number of years. Once you've completed the timeframe, they forgive your loan and you don't need to pay it.

Approved lenders only

These programs can only be handled by approved lenders. If you would like help from a local realtor familiar with the programs and lenders with access, fill out this form here and I will connect you with one.

Now that we have that out of the way, let's jump in! Below are the local programs available to help make homeownership more accessible.

State of New York Mortgage Agency (SONYMA) Down Payment Assistance Loan (DPAL)

• Assistance: Provides up to $15,000 in down payment and closing cost assistance.
• Terms: 0% interest loan, forgivable after 10 years if the buyer remains in the home.
• Eligibility: Must be combined with a SONYMA mortgage; income and purchase price limits apply.
• More Information: SONYMA DPAL Program

Federal Home Loan Bank of New York's Homebuyer Dream Program

• Assistance: Provides grants up to $9,500 toward down payment and closing costs.
• Eligibility: First-time homebuyers who meet income requirements and complete a homebuyer counseling program.
• More Information: Homebuyer Dream Program

New York City – HomeFirst Down Payment Assistance Program

• Assistance: Offers up to $100,000 toward down payment or closing costs.
• Eligibility: First-time homebuyers purchasing a 1-4 family home, condominium, or cooperative in NYC; income limits apply.
• More Information: NYC HomeFirst Program

These programs can only be handled by approved lenders. If you would like help from a local realtor familiar with the programs and lenders with access, fill out this form here and I will connect you with one.

Nassau County – Down Payment Assistance Program

• Assistance: Provides eligible first-time homebuyers with up to $25,000 toward down payment and closing costs.
• Eligibility: Income limits apply; must purchase a home in Nassau County.
• More Information: Nassau County Assistance Program

Suffolk County – Down Payment Assistance Program

• Assistance: Offers up to $14,000 for down payment assistance.
• Eligibility: First-time homebuyers purchasing in Suffolk County; income limits and other requirements apply.
• More Information: Suffolk County Assistance Program

City of Rochester – Home Purchase Assistance Program (HPAP)

• Assistance: Provides up to $3,000 toward down payment and closing costs.
• Eligibility: First-time homebuyers purchasing a home within city limits; must contribute $1,500 of personal funds.
• More Information: https://www.cityofrochester.gov/departments/neighborhood-and-business-development/home-purchase-assistance-program

City of Albany – Home Acquisition Program (HAP)

• Assistance: Provides financial assistance toward down payment and closing costs.
• Eligibility: Low-income, first-time homebuyers purchasing within Albany; income limits apply.
• More Information: https://www.albanyny.gov/748/Home-Improvement-Programs

City of Troy – Homebuyer Incentive Program (HIP)

• Assistance: Grants of $15,000 to $20,000 for down payment and closing costs.
• Eligibility: Income-eligible, first-time homebuyers purchasing within Troy; must complete homebuyer education.
• More Information: Troy HIP Program

Program availability and terms can change, so it's essential to verify the most current information directly with the administering agencies.

These programs can only be handled by approved lenders. If you would like help from a local realtor familiar with the programs and lenders with access, fill out this form here and I will connect you with one.