Updated 1/26/2026

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.

I've included all of the links and contact info needed to do this on your own, the form is meant to make it easier.

Connect with a DPA team

How Down Payment Assistance Works

I need to give a quick overview of how down payment assistance works. After that, the programs are listed.

With down payment assistance, you'll run into two different types:

  • A grant

  • A loan

A Grant

If we meet the qualifications up front, then it's money that does not need to be repaid.

A Loan

If the down payment assistance comes in the form of a loan, then pay attention to the three different types:

  • Repayable

  • Deferred

  • Forgivable

Repayable is just as most imagine. It charges interest over a certain amount of time, with monthly payments until it's paid off.

Deferred loans usually don't require a monthly payment, and typically don't charge interest. It's due in full when you refinance, sell the home, or when it ceases to be your primary residence.

Forgivable loans will disappear if you meet the criteria, which usually comes down to keeping the home as your primary residence for a specific amount of time.

Okay with that, here are the programs!

New York

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

  • Assistance: Provides 3% of the home purchase price (up to $15,000) or a flat $3,000, whichever is higher.

  • Terms: 0% interest loan with no monthly payments. It is forgiven after 10 years if you remain in the home. If you sell before then, a pro-rated portion is due.

  • Eligibility: Must be used in conjunction with a SONYMA mortgage. Borrowers must contribute 1% of the purchase price from their own funds (3% for co-ops or 3-4 family homes).

  • More Information: SONYMA DPAL Program

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

  • 3 Programs. Homebuyer Dream, Homebuyer Dream Plus, and Homebuyer Dream WealthBuilder

  • Homebuyer Dream Program for those who make less than 80% of the Area Median Income

  • Homebuyer Dream Program Plus for those who make more than 80% AMI, but less than 120% AMI

  • Homebuyer Dream WealthBuilder for first generation homebuyers.

  • Assistance: Provides grants of up to $19,500 for down payment/closing costs + $500 toward homebuyer counseling costs (Total: $20,000).

  • Terms: Forgivable grant. You must reside in the home for 5 years to avoid repayment.

  • Eligibility: First-time homebuyers meeting income limits (typically 80% AMI). Funds are distributed through member banks (e.g., local credit unions and community banks) on a first-come, first-served basis, often opening in early spring.

  • More Information: https://www.fhlbny.com/community/housing-programs/hdp-suite

New York City HomeFirst Down Payment Assistance Program

  • Assistance: Provides qualified homebuyers up to $100,000 toward the down payment or closing costs.

  • Terms: Forgivable loan.
    • Loans ≤ $40,000: Forgiven after 10 years of occupancy.

    • Loans > $40,000: Forgiven after 15 years of occupancy.

  • Eligibility: First-time homebuyers purchasing a 1-4 family home, condo, or co-op in one of the 5 boroughs. Household income must be up to 80% AMI. You must contribute some of your own savings toward the purchase.

  • More Information: NYC HomeFirst Program

Nassau County Down Payment Assistance Program

  • Assistance: Provides up to $50,000 (updated from $25k) toward down payment and closing costs for eligible properties.

  • Terms: Deferred loan with no interest; forgiven if the buyer remains in the home for 10 years (sometimes 15 years depending on the funding source).

  • Eligibility: First-time homebuyers purchasing a principal residence in Nassau County. Administered by the Long Island Housing Partnership (LIHP).

  • More Information: Nassau County Assistance Program

Suffolk County Down Payment Assistance (via LIHP)

  • Assistance: Offers up to $30,000 (updated from $14k) for down payment assistance.

  • Terms: Deferred loan; typically forgiven after 10 years of owner-occupancy.

  • Eligibility: First-time homebuyers purchasing in Suffolk County who meet income limits (often 80% AMI).

  • More Information: LIHP / Suffolk County Program

City of Rochester Home Purchase Assistance Program (HPAP)

City of Albany Home Acquisition Program (HAP)

  • Assistance: Provides up to $14,900 total (up to $10,000 for down payment + up to $4,900 for closing costs).

  • Terms: Forgivable loan over a 5-year period.

  • Eligibility: Low-income (under 80% AMI) first-time homebuyers purchasing a 1-4 unit home within Albany.

  • More Information: https://www.albanyny.gov/748/Home-Improvement-Programs

City of Troy Homebuyer Incentive Program (HIP)

  • Assistance: Grants typically ranging from $15,000 to $20,000 for down payment and closing costs.

  • Terms: Requires a 10-year residency commitment to avoid repayment.

  • Eligibility: Income-eligible first-time homebuyers purchasing within Troy; administered by the Troy Rehabilitation and Improvement Program (TRIP)

  • More Information: Troy HIP Program

City of Buffalo Down Payment & Closing Cost Assistance (New Addition)

  • Assistance: Provides up to $10,000 (amount varies by available funding) for closing costs and down payment.

  • Terms: Forgivable loan (often over 5 to 10 years).

  • Eligibility: First-time homebuyers purchasing a 1-2 family home in Buffalo; income limits apply.

  • More Information: Buffalo Urban Renewal Agency (BURA)

Updated 1/26/2026

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.

I've included all of the links and contact info needed to do this on your own, the form is meant to make it easier.