New York’s real estate market is as diverse as the state itself, from the dense neighborhoods of New York City to the suburban communities of Long Island and the more affordable markets upstate. For many prospective buyers, especially first-time homeowners, understanding both the housing landscape and the programs available to reduce upfront costs is essential.
A key resource for many is New York’s wide range of down payment assistance (DPA) programs offered at the state, county, and city levels. These include grants, forgivable loans, and deferred-payment options that can make the path to homeownership more attainable.
While we’ve done our best to feature the most widely available and active programs, new opportunities are always emerging and existing ones can pause from time to time. We’ll continue updating this page to keep it accurate and useful.
Down Payment Assistance Programs by County
Several counties across New York operate their own programs, often funded through HUD’s HOME Investment Partnerships Program.
Nassau County HOME Down Payment Assistance Program
Nassau County’s HOME Down Payment Assistance Program helps first-time buyers in Nassau County with up to $50,000 in down payment and closing cost assistance. The aid is a 0% interest deferred loan forgiven after 15 years of owner-occupancy.
Eligibility: Applicants must be first-time homebuyers, have household income at or below 80% of area median income, contribute the lender-required down payment, and occupy the home as their primary residence for at least 15 years.
Suffolk County HOME Consortium Down Payment Assistance Program
Suffolk County's DPA offers up to $30,000 toward a down payment on a single-family home in participating areas. The assistance is forgivable after 10 years if the buyer remains in the home.
Eligibility: Applicants must be first-time buyers, contribute $3,000 of their own funds, and have income under 80% of area median income. The home must be in the Suffolk County HOME Consortium area (excluding Islip, Brookhaven, and Babylon).
Dutchess County First-Time Homebuyer Program
Dutchess County’s First-Time Homebuyer Program provides up to $50,000 in assistance to income-qualified first-time buyers purchasing anywhere in Dutchess County. Award amounts vary by income, with lower-income households eligible for the largest amount.
Eligibility: Must be a first-time homebuyer purchasing in Dutchess County and meet applicable household income and program requirements.
Down Payment Assistance Programs by City
City-level programs can offer larger awards and more flexible criteria, especially in high-cost areas like NYC.
NYC HomeFirst Down Payment Assistance Program
New York City’s HomeFirst Program provides up to $100,000 in forgivable assistance toward down payment or closing costs on a 1–4 family home, condo, or co-op in any of the five boroughs. Provided you meet its conditions, the loan is forgiven after 10–15 years, depending on the amount received.
Eligibility: Must be a first-time buyer with income below 120% of AMI, complete an HPD-approved homebuyer education course, and contribute 3% of the purchase price from personal funds.
City of Buffalo Down Payment and Closing Cost Assistance Program
Buffalo's Program offers first-time buyers up to $15,000 in 0% interest, forgivable loans to help with down payment and closing costs. The loan is forgiven after 5 years of owner-occupancy.
Eligibility: Must be a first-time buyer with income between 50% and 80% of HUD income guidelines, purchasing an eligible one- or two-family home within the city that meets code and lead safety standards.
City of Rochester Home Purchase Assistance Program (HPAP)
Rochester’s HPAP provides down payment and closing costs assistance on a home within city limits, with grants of up to $8,000 available for closing costs.
Eligibility: Must be a first-time buyer with income under 120% of AMI, contribute at least $1,500 of personal funds, and live in the home for at least 5 years after closing.
City of New Rochelle Down Payment Assistance Program
New Rochelle’s Program offers a 0% interest deferred loan covering up to 19% of the purchase price, not to exceed $125,590, for the down payment only. The loan is forgivable after 5 years. You must occupy the home as your principal residence throughout those five years, and annual inspections enforce that rule.
Eligibility: Must be a first-time homebuyer who is a current New Rochelle resident, qualifying member of the New Rochelle workforce or business community, or a qualifying former resident. Applicants must contribute 1% of the purchase price, earn at least $40,000, and have income below 80% of AMI.
City of Kingston Homebuyer Grant
The City of Kingston Homebuyer Grant provides up to $50,000 in acquisition-cost assistance to eligible first-time buyers. Funding is provided as a 0% interest, deferred forgivable lien, with a 10-year owner-occupancy requirement.
Eligibility: Must be a first-time homebuyer purchasing an eligible home in the City of Kingston, meet income requirements, complete RUPCO counseling and homebuyer education, and qualify for a primary mortgage.
City of Elmira First-Time Homebuyer Program
Elmira’s First-Time Homebuyer Program provides $20,000 in down payment and closing cost assistance. The grant is forgiven after 10 years and is administered for the city by Catholic Charities.
Eligibility: Must be an income-eligible first-time homebuyer purchasing a home within the City of Elmira and meet current program requirements.
City of Binghamton First-Time Homebuyer Program
Binghamton’s First-Time Homebuyer Program offers deferred loans of up to $10,000 toward down payment and closing costs. The loan is forgiven in full after 5 years if the home remains the buyer’s principal residence.
Eligibility: Must be a first-time homebuyer purchasing in Binghamton and complete the required pre-purchase homebuyer education course. Other program and income requirements apply.
City of Troy Homebuyer Incentive Program (HIP)
Troy’s Homebuyer Incentive Program provides $25,000 or $30,000 in down payment and/or closing cost assistance to qualifying first-time homebuyers purchasing in the city.
Eligibility: Must be a first-time homebuyer with household income under 80% of HUD area median income and meet TRIP and City of Troy program requirements.
Statewide Down Payment Assistance Programs
New York’s statewide programs often provide the most consistent funding and broadest eligibility across the state. Here are some of the top options available today.
SONYMA Down Payment Assistance Loan (DPAL)
The State of New York Mortgage Agency (SONYMA) Down Payment Assistance Loan is a forgivable second mortgage available to buyers using a SONYMA primary mortgage. It features 0% interest, no monthly payments, and forgiveness after 10 years of continuous ownership. The minimum loan amount is $1,000, while the maximum is 3% of the home’s purchase price (up to $15,000) or $3,000, whichever is higher. Funds can be used for the down payment, closing costs, or mortgage insurance.
Eligibility: Borrowers must be first-time homebuyers (with exceptions for veterans and purchases in targeted areas), and meet SONYMA income and purchase price limits.
SONYMA DPAL Plus 2026
SONYMA’s DPAL Plus 2026 provides enhanced assistance of up to $30,000 for eligible households using a SONYMA mortgage. Funds can be used for the down payment, closing costs, and eligible single-premium mortgage insurance.
Eligibility: Household income must not exceed 60% of AMI, and borrowers must meet the requirements of an eligible SONYMA mortgage program and property.
Federal Home Loan Bank of New York Homebuyer Dream Program Suite
The Federal Home Loan Bank of New York Homebuyer Dream Program Suite offers grants through participating FHLBNY members to help with down payment, closing costs, and homebuyer counseling. The standard HDP and HDP Plus each provide up to $30,000, while HDP Wealth Builder can be combined with either program for up to $60,000 in total assistance for eligible households.
Eligibility: Standard HDP is for first-time buyers at or below 80% of AMI. HDP Plus serves qualifying New York households above 80% and up to 120% of AMI, while Wealth Builder is for eligible first-generation buyers at or below 120% of AMI. Assistance is accessed through participating FHLBNY members.
Additional Down Payment Assistance Programs in New York
Here are other active programs that weren’t covered above but may still offer valuable opportunities.
County Programs
City Programs
- City of Albany Home Acquisition Program (HAP)
- City of Schenectady BCNI Homebuyer Assistance Program
- Town of Babylon HOME Program
- Town of Brookhaven HOME Down Payment Assistance Program
- Town of Amherst First-Time Homebuyer Program
- Town of Hamburg First-Time Homebuyer Program
- Town of East Hampton First-Time Homebuyer Down Payment Assistance Program
- Town of Southampton First-Time Homebuyer Community Housing Fund Program
- Town of Colonie Down Payment Program
- City of Lockport First-Time Homeownership Program
- City of Rochester Employer Assisted Housing Initiative
Regional and Other Programs
- Home HeadQuarters Closing Cost Assistance Loan
- Community Housing Innovations / NYS Affordable Housing Corporation First-Time Homebuyer Grant Program
- INHS Financial Assistance for Home Buyers
AMI and DPA Eligibility
Many down payment assistance programs limit eligibility to applicants who earn within a certain range of the local area median income (AMI). In New York, this commonly ranges between 80% and 120%, depending on the program. However, specific programs may have other AMI limits, while some programs may allow all homebuyers, regardless of their income level.
Final Thoughts
Buying a home in New York can be challenging, but a range of down payment assistance programs can help make it more achievable. From statewide options to local grants and forgivable loans, eligible buyers have access to meaningful support that can lower upfront costs. Be sure to review current program requirements and funding availability, explore our loan calculators to estimate payments, and stay informed on current mortgage rates as you plan your path to homeownership.
Check with the organization directly for the most recent guidelines. While programs were fact-checked at the time of writing, requirements change often, and programs become unavailable when funds are exhausted.
