Located in the northeastern United States, New York is the 11th state in the Union. It is home to the Statue of Liberty and is known for its diverse population, exclusive shops, Broadway shows, Times Square, Empire State Building, Central Park, and more. The state’s capital is Albany and the largest city is New York. With a population of more than 8 million people, New York boasts a homeownership rate of 53.9% (2022-U.S. Census Bureau).
DPA programs across the country continue to make homeownership possible for many. Below is a list of programs available in the state of New York. Also, combining programs may be possible, so be sure to inquire.
State of New York Mortgage Agency
City of Binghamton Housing Division
Town of Union Department of Planning
City of Elmira Community Development
Town of Colonie Community Development
Community Housing Innovations, Inc.
NYC Department of Housing Preservation and Development
Niagara Falls Community Development
NeighborWorks Community Partners Niagara Falls
Rochester Department of Neighborhood and Business Development
Nassau County Community Development
Troy Rehabilitation and Improvement Program
Monroe County Community Development
Onondaga County Community Development
Albany Community Development Agency
Albany County Rural Housing Alliance
Town of Babylon Community Development
Town of Brookhaven Community Development
Suffolk County Community Development
Better Community Neighborhoods, Inc.
Community Development Corporation of Long Island
NYSAR Housing Opportunities Foundation
Rural Ulster Preservation Company
Town of Amherst Community Development
Town of Hamburg Community Development
Town of Tonawanda Community Development
Homsite | City of Auburn Community Development
Cortland Housing Assistance Council, Inc.
Ithaca Neighborhood Housing Services, Inc.
Bishop Sheen Ecumenical Housing Foundation
NeighborWorks Community Partners Rochester
Achieving the Dream Program
“Our lowest interest rate program, Achieving the Dream is designed to maximize the amount you can afford with minimal down payment required. A 30-year fixed-rate mortgage with no points.Down payment requirement as low as 3% (and 3% down payment assistance available).”
Low Interest Rate Program
“SONYMA’s low interest rate program offers lower down payment requirements and competitive interest rates to qualified buyers. This program allows for the purchase of 1-4 family homes, condominiums, cooperatives, and manufactured homes. A 30-year fixed-rate mortgage with no points. Down payment requirement as low as 3% (and 3% down payment assistance available).”
Conventional Plus Program
“SONYMA’s Conventional Plus Program is a mortgage program that combines 30-year fixed rate mortgages with SONYMA down payment assistance for both first-time homebuyers and previous homeowners. The program may be used for the purchase of a primary home. The down payment assistance may also be used to pay closing costs (including an upfront single mortgage insurance premium, if necessary, and thus eliminating the monthly mortgage insurance premium payment).”
FHA Plus Program
“SONYMA’s FHA Plus Program is a mortgage program that combines 30-year fixed rate mortgages with SONYMA down payment assistance for both first-time homebuyers and previous homeowners. The program may be used for the purchase of a primary home. The down payment assistance may also be used to pay closing costs.”
Down Payment Assistance Loan
“SONYMA’s Down Payment Assistance Loan (DPAL), which is available for all buyers using a SONYMA mortgage program, can provide the initial funding you need to purchase your first home. Maximum loan amount: 3% of the purchase price (up to $15,000) or $3,000, whichever is highest.”
East Buffalo Down Payment Assistance Plus Program (DPAL+)
“DPAL PLUS can be used to pay down payment and closing costs until purchase money mortgage amount is 80% LTV, up to $30,000. The program is only available currently in Buffalo, NY.”
RemodelNY Program
“The SONYMA RemodelNY program provides mortgage financing options that let you purchase a property and pay for repairs to turn that almost-perfect house into your perfect home.”
Homes for Veterans
“Exclusively for active service members, veterans, and their spouses or co-borrowers. US Military veterans with an other than dishonorable discharge do not need to be first time homebuyers. Interest rates .375% lower than standard SONYMA interest rates for loans with down payment assistance.”
Graduate to Homeownership
“The Graduate to Homeownership program offers recent college graduates low-interest mortgages, down payment assistance, and homebuyer education resources to purchase their first home in certain upstate New York communities.”
Neighborhood Revitalization Program
“The Neighborhood Revitalization Program offers incentives to potential buyers who qualify for the SONYMA Achieving the Dream Program and wish to purchase homes in need of repair in New York State. Up to $20,000 to renovate a home that you purchase.”
Give Us Credit Program
“The Give Us Credit program qualifies eligible first-time homebuyers by expanding the criteria used to evaluate responsible financial management, increasing eligibility to families and individuals who rely on non-traditional savings and sources of income, and by offering greater flexibility for potential borrowers who have overcome past financial hardships.”
ENERGY STAR
“To help you find a more energy efficient home, SONYMA is partnering with the New York State Builders Association (NYSBA), the New York State Energy Research and Development Authority (NYSERDA), and the Long Island Power Authority (LIPA) to offer special incentives for purchasing an Energy Star certified home.
Manufactured Home Mortgage Program
“The State of New York Mortgage Agency (SONYMA) is proud to announce that we now offer the same affordable, fixed-rate mortgages that we have been providing to low- and moderate-income homebuyers since 1970, to existing and prospective manufactured home community residents.”
First-Time Homebuyer Program
“Provides first time homebuyers with deferred loans to assist with down payment and closing costs. The deferred loans are made in amounts up to $5,000 to assist with closing costs/down payment. If title to the property is sold/transferred within 5 years, or the home is no longer the owner’s principal place of residency, 100% of the loan becomes due. After 5 years, the loan is forgiven in full.”
First-Time Homebuyer Program
“The program provides up to $5,000 for down payment or settlement charges such as reimbursement for cost of professional home inspection and other acquisition costs. The Town of Union includes the Villages of Endicott and Johnson City and the neighborhoods of Airport Heights, West Corners, North Endwell Union Center, North Endicott, North Endwell West, North Endwell East, Central Endwell, South Endwell, Riverhurst , Choconut Center, Fairmont Park, and Westover.”
Down Payment Assistance Program
“Funding will be provided as a deferred payment, zero percent interest (0%) loan/conditional grant of up to $5,000.00. If the purchaser resides in the home for the full five-year term of the loan, the loan will be forgiven and no repayment is required. The assistance will be available to income-eligible homebuyers obtaining mortgage financing for the purchase of a home. The property to be purchased must be located within the legal limits of the City of Buffalo.
First-Time Homebuyer Program
“This program is designed to assist income eligible, low to moderate income individuals or families with down payment and closing cost assistance in purchasing their first home in the City of Elmira by offering a grant in the amount of $10,000 that is forgiven after five years.”
First-Time Homebuyer Program
“The Town of Colonie First Time Homebuyer program provides a subsidy to participants to purchase homes in the Town of Colonie, Village of Colonie, and Village of Menands.”
Closing Cost Assistance
“Home HeadQuarters offers loans up to $4,000 to help qualified, first-time buyers cover closing costs for a home located anywhere in New York State excluding New York City. The program offers both payback and deferred loans (no payback required) depending on buyer eligibility.”
First Time Homebuyer Grant Program
“Community Housing Innovations, Inc., through the New York State Affordable Housing Corporation, is offering First-Time Homebuyers homeownership assistance to cover down payment and/or closing costs plus rehabilitation expenses.”
HomeFirst Down Payment Assistance Program
“The HomeFirst Down Payment Assistance Program 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.”
HomeFix Program
“HomeFix will offer loans up to $60,000 per home, with an additional $30,000 per additional rental unit, with an anticipated maximum loan amount of $150,000 for a four-family home. The loan terms may vary from low- or no-interest to fully amortizing from zero to five percent interest, with favorable loan terms for low-income and senior households.”
First Time Home Buyers
“We offer first time home buyers a grant, up to $2,500, to cover the closing costs associated with a new mortgage.”
Downpayment & Closing-Cost Assistance Loans
“Our Downpayment & Closing-Cost Assistance Loan is for first-time homebuyers looking to purchase a home, NeighborWorks® Community Partners can help you with your Downpayment and/or Closing-Costs.”
Home Purchase Assistance Program Grant (HPAP)
“The City of Rochester’s Home Purchase Assistance Program Grant (HPAP) provides down payment and closing cost assistance to first-time buyers who meet program requirements. Grants of up to $3,000 are available for closing cost assistance to first-time buyers who are income eligible.”
First-time Homebuyer Downpayment Assistance Program
“Nassau County will provide eligible first-time homebuyers with up to $25,000 towards down payment/closing costs towards the purchase of an eligible new or existing single family home, provided that the applicant puts a minimum down payment of at least $5,000.”
Employer Assisted Housing Program
“The purpose of the Nassau County Employer Assisted Housing Program (EAHP) is to assist County employers with recruiting and retaining a skilled and qualified workforce while at the same time helping Nassau County workers to purchase homes near their jobs.
Nassau County EAHP funds are essentially a zero-interest deferred loan. Applicants below 80% of median income are eligible to receive up to $12,000 in HOME assistance, along with the employer grant of $9,000.”
Counies Served: Oneida, Herkimer, Madison, Fulton, Montgomery, Otsego
Homebuyer Dream Program
“The HomeOwnershipCenter partners with several local financial institutions to offer a down payment and closing cost assistance program for first time home buyers looking to buy in New York State.”
Madison County Down Payment Assistance & Rehabilitation Grant
“The Madison County Down Payment Assistance + Rehabilitation Grant is for first time home buyers that want to live in Madison County with preference to those applying within the village and the town of Hamilton.”
City of Rome Down Payment & Closing Cost Assistance Program
“The City of Rome Down Payment & Closing Cost Assistance Program is for first time home buyers that want to live in the City of Rome. The maximum grant award is $15,000.”
Section 8 Homeownership Program
“The Homeownership Program permits eligible families who are in the Section 8 Rental Housing Choice Voucher Program the option of purchasing a home with the Section 8 subsidy rather than renting.”
Homebuyer Incentive Program (HIP)
“TRIP’s HomeOwnership Center administers federal HOME funds for the city of Troy, available to income-eligible first-time homebuyers for downpayment and/or closing cost assistance in the amounts of $15,000 & $20,000.”
Rensselaer County Homebuyer Program (Small Cities)
“TRIP’s HomeOwnership Center administers federal HOME funds for the city of Troy, available to income-eligible first-time homebuyers for downpayment and/or closing cost assistance in the amounts of $15,000 & $20,000.”
First Time Homebuyer Program
“The program provides one-time grants for down payment and closing cost assistance to income-eligible first-time home buyers who purchase homes in the suburban towns and villages of Monroe County.”
Homeownership Program
“Within the coming year, Onondaga County Community Development expects to purchase, rehabilitate, and sell a number of single family dwellings. These homes will be available at a subsidized price for first-time homebuyers who meet program guidelines.”
Home Acquisition Program (HAP)
“Looking to purchase a NEW home in the City of Albany? HAP may help you own your dream home by assisting you with down payment, closing costs and/or rehab assistance.”
HOME Down Payment Assistance Program
“The HOME DPA (Down Payment Assistance) Grant Program helps to offset down payment and closing costs to income qualified buyers at closing. The level of assistance will depend on the individual needs of the applicant.”
Down Payment Assistance Program
“Under this program, the Town of Babylon will provide eligible first-time homebuyers up to $39,000 towards down payment/closing costs for the purchase of an owner- occupied approved single-family home located in the Town of Babylon. The funds are essentially zero-interest deferred loans that are forgiven after ten (10) years.”
Down Payment Assistance Program
“The Town of Brookhaven HOME Down Payment Assistance Program will provide eligible first time homebuyers with up to $39,000 towards down payment/closing costs towards the purchase of an eligible new or existing single-family home, provided that the applicant is income eligible and meets all program requirements.”
Down Payment Assistance Program
“The Suffolk County HOME Consortium down payment assistance funds are essentially zero-interest deferred loans that are forgiven after 5 years. The assistance provided will be up to $14,000 for eligible applicants to assist with the down payment toward the purchase of an owner occupied, single family residence. This program does not fund closing costs.”
BCNI’s Homebuyer Assistance Program
“Down payment assistance grant funding up to $10,000 towards the purchase of your first home within the City of Schenectady.”
Down Payment and Closing Cost Assistance Loan
“A low-interest rate loan, for down payment and closing cost assistance, is available for first-time homebuyers to avoid Private Mortgage Insurance (PMI) and whose income is no greater than 120% of the area median income (AMI) based on family size (see chart below). The loan may be for up to $75,000 and is subject to program underwriting guidelines.”
Single Family Home Development/Suffolk County Landbank Corporation
“In collaboration with the Suffolk County Landbank Corporation (SCLBC) and the New York State Attorney General’s Office, SCLBC purchases abandoned and foreclosed homes and CDCLI rehabilitates them to a high-quality standard. CDCLI then makes them available for sale to qualified first-time home buyers.”
Rent-to-Own Program
“CDCLI Housing Development Fund Corporation (“CDCLI Housing”) offers a Rent-to-Own Program to help Long Islanders accomplish homeownership. Under this program, we acquire and renovate single family dwellings to high quality standards, including energy efficient and green measures. The properties are offered for rental to Long Islanders who have committed to accomplishing homeownership within the next three years.”
Single Family Home Development/Suffolk County Landbank Corporation
“n collaboration with the Suffolk County Landbank Corporation (SCLBC) and the New York State Attorney General’s Office, SCLBC purchases abandoned and foreclosed homes and CDCLI rehabilitates them to a high-quality standard. CDCLI then makes them available for sale to qualified first-time home buyers.”
Voucher Homeownership
“CDCLI’s Voucher Homeownership Program enables existing Housing Choice Voucher participants to accomplish healthy and sustainable homeownership through subsidies and creative financing.
Families that are currently participating in the Housing Choice Voucher Program administered by CDCLI and other housing authorities in Nassau and Suffolk Counties are eligible.”
First-time Homebuyer Grant Program
“The NYSAR Housing Opportunities Foundation reviews and awards first-time home buyer grants throughout the state of New York. In order to apply, applicants must be working with a REALTOR® and fall within the given guidelines.”
Ulster County Block Grant Program
“RUPCO has funding available from the NYS Office of Community Renewal (NYSHCR) Ulster County Block Grant Program to assist low-income first-time homebuyers purchasing residential homes in Ulster County (excluding the City of Kingston) with down payment, closing costs and repairs. Grants up tp $49,200.”
Ulster County First-Time Homebuyer Grant
“RUPCO has funding available from the NYS Housing Trust Fund Corporation to assist low-income first-time homebuyers purchasing residential homes in Ulster County with down payment and closing costs. Average grant is $36,900.
City of Kingston Homebuyer Grant
“RUPCO has funding available from HUD as part of the City of Kingston’s Community Development Block Grant (CDBG) Entitlement Program to assist low-income first-time homebuyers purchasing residential homes in the City of Kingston with acquisition costs. Grants up to $50,000.”
Orange County First-Time Homebuyer Grant
“RUPCO is currently administrating a New York State Affordable Housing Corporation (AHC) grant available from the NYS Office of Homes and Community Renewal to assist the Orange County community in achieving the dream of homeownership. These funds can assist low-income Orange County first-time homebuyers with down-payment, repairs and closing costs by providing grants of up to $40,000.”
Sullivan County First-Time Homebuyer Grant
“Up to $45,000 is available for income eligible households for down payment, closing costs and post closing rehab.”
First Time Homebuyer Program
“The Neighbors Of Watertown’s First Time Homebuyer Program provides financial assistance to families buying a home in Watertown and Jefferson County, NY. The home must be in substantially move-in condition.”
Buy / Rehab / Resell Housing Rehabilitation Program
“The program rehabilitates vacant substandard houses and makes them available to 1st time homebuyers. Homebuyer grants are provided if available.”
First-Time Homebuyer Program
“The Town of Amherst, as a member of the Amherst-Cheektowaga-Tonawanda HOME Consortium, using the HOME Investment Partnerships Program, offers loans for first-time homebuyers with qualifying incomes to cover closing costs associated with the purchase of their first home in the Town of Amherst. These are long term, deferred payment, interest-free loans.”
Hometown Housing Program
“Our “First Time Homebuyer” program is available to ALL income eligible persons/families looking to purchase their first home (single family) within the township, regardless of their current residence!”
First Time Homebuyer Program
“The Town of Tonawanda, through the HOME Investment Partnership Program, is offering loans for first-time homebuyers with qualifying incomes to cover most closing costs associated with the purchase of their first home in the Town of Tonawanda (including the Village of Kenmore). These are long-term, deferred payment, interest-free loans.”
Mortgage Assistance Program (MAP)
“We offer grants of up to $3,000 to help cover down payment and closing costs to qualified first-time buyers purchasing a home in the City of Auburn.”
Reparative Housing Justice Fund (RHJF)
“The Reparative Housing Justice Fund offers grants of up to $10,000 to assist Black homebuyers in purchasing a home in the Capital Region.
First Time Homebuyers Program
“This program will offer subsidies to eligible first-time home buyers to be used toward reducing closing costs and for rehabilitation of the property after purchase.”
First Time Homebuyers Program
“INHS helps make homeownership possible for first-time home buyers of moderate income by filling the gap between what you can afford and the cost of housing. We offer up to $20,000 for down payment assistance and closing costs for those who are purchasing a home in any of the counties in our service area, including Cayuga, Chemung, Cortland, Schuyler, Seneca, Tioga and Tompkins Counties.”
Community Housing Trust (CHT) Program
“The CHT is a “shared equity” program: the homebuyer purchases only the house and the Trust owns the land. The homeowner has a 99-year lease on the land, with a small monthly land rent. This arrangement greatly lowers the purchase price of the home, and INHS can provide other financial assistance to further reduce the buyer’s costs.”
Home Ownership Loan Program
“Sheen Housing provides a two for one match program for eligible families. The maximum amount of financial assistance from Sheen Housing will be $3,000 loan and will require a $50 monthly payment.”
Downpayment & Closing-Cost Assistance Loans
“Our Downpayment & Closing-Cost Assistance Loan is for first-time homebuyers looking to purchase a home, NeighborWorks® Community Partners can help you with your Downpayment and/or Closing-Costs.”
States/Territories served: New York, Puerto Rico, New Jersey, Virgin Islands
Homebuyer Dream Program® (HDP®)
“The HDP offers grants up to $10,000 to eligible first-time homebuyers purchasing a home through one of our approved community-based, member lenders. The FHLBNY will grant up to $9,500 towards down payment and closing cost assistance to eligible first-time homebuyers. Additionally, the HDP offers up to $500 towards the defrayment of homeownership counseling costs which will be provided for the use of the household via the member to the non-profit counseling agency.”
Single Family Housing Direct Home Loans
“Also known as the Section 502 Direct Loan Program, this program assists low- and very-low-income applicants obtain decent, safe and sanitary housing in eligible rural areas by providing payment assistance to increase an applicant’s repayment ability. Payment assistance is a type of subsidy that reduces the mortgage payment for a short time.”
Habitat Home
“We believe that everyone should have a safe, affordable place to call home. To carry out our vision, we partner with individuals and families from application through construction to when the keys are handed over.”
The next blog post in our series will explore down payment assistance programs in North Carolina.
State of New York Mortgage Agency
City of Binghamton Housing Division
Town of Union Department of Planning
City of Elmira Community Development
Town of Colonie Community Development
Community Housing Innovations, Inc.
NYC Department of Housing Preservation and Development
Niagara Falls Community Development
NeighborWorks Community Partners Niagara Falls
Rochester Department of Neighborhood and Business Development
Nassau County Community Development
Troy Rehabilitation and Improvement Program
Monroe County Community Development
Onondaga County Community Development
Albany Community Development Agency
Albany County Rural Housing Alliance
Town of Babylon Community Development
Town of Brookhaven Community Development
Suffolk County Community Development
Better Community Neighborhoods, Inc.
Community Development Corporation of Long Island
NYSAR Housing Opportunities Foundation
Rural Ulster Preservation Company
Town of Amherst Community Development
Town of Hamburg Community Development
Town of Tonawanda Community Development
Homsite | City of Auburn Community Development
Cortland Housing Assistance Council, Inc.
Ithaca Neighborhood Housing Services, Inc.
Bishop Sheen Ecumenical Housing Foundation
NeighborWorks Community Partners Rochester
A Community Land Trust (CLT) is a nonprofit organization that holds land in trust for the benefit of the community. The primary purpose of a CLT is to provide affordable housing, although some CLTs also manage land for other community needs such as agriculture, commercial spaces, or conservation.
Explore down payment and homebuyer assistance programs in the U.S. Virgin Islands.
Explore down payment and homebuyer assistance programs in Puerto Rico.
Copyright © 2023 AMA Resources LLC. All Rights Reserved.
Source 1: Wikipedia: Reusing Wikipedia Content. This work is released under CC BY-SA. Source 2: Farlex Financial Dictionary
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