Assistance program · New York
HomeFirst Down Payment Assistance Program
New York City interest-free forgivable loan of up to $100,000 (or 20% of the price) for the down payment or closing costs of first-time buyers in the city's five boroughs
At a glance
- Most it gives, per the source
- Up to $100,000
- What its page says; your amount depends on the price and the loan.
- Kind of help
- Forgivable
- Second loan forgiven if you stay in the home
- First-time buyer?
- Yes
- First-time buyers only
- Checked
- November 5, 2026
- Against the program's official page.
Type of help
What it is
- Second loan forgiven if you stay in the home
Only in: New York City, Bronx County, Kings County, New York County, Queens County, Richmond County
What it gives
Up to $100,000
Source text
The HomeFirst Down Payment Assistance Program provides qualified first-time 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. … Live in the home for at least: … 10 years if the loan received is less than or equal to $40,000 … 15 years if the loan is greater than $40,000 … For City-funded loans, owner occupancy period is 15 years regardless of loan amount. A summary of what the program publishes; not a loan offer or advice. Amounts, limits and funding change without notice.
At a glance
Who qualifies
Each answer comes from the program's page. "Not stated — ask" means its page doesn't make it clear: ask before you apply.
Source text
Be a first-time homebuyer … Complete a homebuyer education course taught by an HPD-approved counseling agency … Have their own savings to contribute to the down payment or closing costs … Meet program income eligibility requirements … The borrower must provide a minimum downpayment or contract deposit of at least 3% of the total purchase price sourced from their own funds, towards the home purchase. … Purchase a 1-4 unit family home, a condominium, or a cooperative for owner-occupancy in one of the five boroughs of New York City … Pass a Housing Quality Standards (HQS) inspection before purchase … Have a maximum household income up to 120% AMI - First-time buyers only Yes
- Homebuyer course required Yes
- Minimum credit score Not stated — ask
- Income limit Per the program table (by county and household size)
- Price limit Per the program table
- Mortgages it works with Not stated — ask
- Immigration requirement Not stated — ask
- Accepts ITIN? Not stated — ask
- Spanish materials Not stated — ask
- Program status The source does not say whether it is open — ask
- Where it applies New York City, Bronx County, Kings County, New York County, Queens County, Richmond County
What its page says about being open
Its page does not say whether the program is open or has funds. Ask the lender or the agency before counting on it. Read on the official page on November 5, 2026.
Your area in numbers
What buying costs in New York City
The program covers 5 counties. The first column is the figure of the middle county; the second runs from the lowest to the highest among them.
The program sets its maximum price in a table. Compare it with the typical home value in New York City: $723,800.
The typical home value ($723,800) fits within New York City's FHA limit ($1,249,125).
The program sets its income limit in its own table. For reference, HUD's low-income limit for 4 people in New York City is $135,700.
| Figure | Middle county | Lowest to highest | Source |
|---|---|---|---|
| Typical home value | $723,800 | $529,500 (Bronx County) to $1,090,500 (New York County) | U.S. Census Bureau |
| FHA limit (one-unit home) | $1,249,125 | $1,249,125 in all 5 counties | HUD |
| Conforming limit (one-unit home) | $1,209,750 | $1,209,750 in all 5 counties | FHFA |
| HUD low income (80%), household of 4 | $135,700 | $135,700 in all 5 counties | HUD |
Sources: American Community Survey (ACS) 5-year estimates (Average 2020–2024) · FHA mortgage limits (HUD) (2026 data) · Conforming loan limits (FHFA) (2026 data) · Income Limits (HUD) (Fiscal year 2026)
Step by step
How to use it, step by step
Each step comes from what the program's page says. What its page leaves out is further down, in the questions.
Find a participating lender-
Ask first whether it is open
Its page does not say whether it is open or still has funds. That is the first thing to ask.
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Confirm you count as a first-time buyer
The program requires it. Read on its page how it defines "first-time buyer" and whether there are exceptions.
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Find your county in the income table
The limit changes with the county and the number of people in your household. Count the income of everyone the program asks you to add.
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Check your county's maximum price
The program sets a maximum price per county in its table.
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Take the homebuyer course
The program requires it. HUD-approved housing counseling agencies teach courses. New York has 93 agencies on HUD's list, and 38 serve people in Spanish.
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Apply with NYC Department of Housing Preservation and Development. Its page explains whether you apply directly or through a participating lender.
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Compare the total cost before you sign
Ask about the total cost. The mortgage with assistance may carry a higher rate than without it, and some programs charge for the course or a fee.
Before you call
What to ask
Its page leaves 6 points unclear. Write them down for when you talk to NYC Department of Housing Preservation and Development.
What its page does not say
- Is it open now, and does it still have funds?
- What minimum credit score do you require?
- Which mortgage types does it work with: FHA, VA, USDA or conventional?
- Which immigration status or residency documents do you ask for?
- Do you accept an ITIN?
- Do you have materials or staff in Spanish?
Worth asking for this kind of help
- After how many years is the loan forgiven, and what happens if I sell or refinance before then?
Against the others
How it compares with New York's other programs
The 3 programs we checked in New York, with the same fields from their official pages. "Doesn't say" means its page does not make it clear.
It is one of 2 programs in New York, out of 3, that require being a first-time buyer. It is one of 3 out of 3 that publish an amount with the figure in their own wording. 2 more programs in the state give "forgivable" help: SONYMA Down Payment Assistance Loan (DPAL) and Achieving the Dream. It is the only local program on the list; the others cover the whole state. It is the only one that requires a homebuyer course.
Swipe the table to see every column.
| Program | Kind of help | Published amount | First-time buyers only | Course required | Accepts ITIN | Where it applies |
|---|---|---|---|---|---|---|
| HomeFirst Down Payment Assistance Programthis program | Forgivable | Up to $100,000 | Yes | Yes | Doesn't say | New York City, Bronx County, Kings County, New York County, Queens County, Richmond County |
| SONYMA Down Payment Assistance Loan (DPAL) | Forgivable | Up to 3% of the price, capped at $15,000 | Doesn't say | Doesn't say | Doesn't say | Statewide |
| Achieving the Dream | Forgivable | Up to 3% of the price, capped at $15,000 | Yes | Doesn't say | Doesn't say | Statewide |
Sources
How we checked this program
We read the program's official pages on November 5, 2026 and copied their text as it appears on them. We add no amounts or requirements those pages do not state, and a program is listed as open or closed only when its page says so.
We check every program again. If more than 180 days pass without a check, the page says so.
Get free help applying
A HUD-approved housing counselor explains the program's requirements, goes over your numbers and tells you what to ask the lender. They do not sell loans.
Find a counselor (HUD)Read before you apply
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Help and programs
Down payment assistance: how it works
What down payment assistance is, the types that exist (grant, forgivable or deferred second loan, tax credit), who qualifies and where to find it.
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Help and programs
Homebuyer education courses: when you need one
What a homebuyer education course is, when Fannie Mae, Freddie Mac and assistance programs require one, and where to take it for free or in Spanish.
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Help and programs
HUD housing counselors: what they do and what they cost
What a HUD-approved housing counselor does, what they help with (buying, renting, missed payments, credit), what they may charge and how to find one.
Your county
Price and income limits depend on the county. Your county page has the typical value, the FHA limit and the counseling agencies that can walk you through the application.