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NYC - HOME FIRST OWNER ASSISTANCE

Type Of Program

Down Payment

Program distribution

Forgivable Second Mortgage

Program Originator

NYC HOUSING PRESERVATION AND DEVELOPMENT

Program URL

https://www1.nyc.gov/site/hpd/services-and-information/homefirst-down-payment-assistance-program.page

Location

Nationwide

Description

Run through the NYC Department of Housing Preservation and Development (HPD), the HomeFirst programs is designed for first-time homebuyers looking to purchase a home within the five boroughs. It provides a forgivable loan up to $40,000 to be used for the down payment or closing costs. Buyers will need to complete an homebuyer education course approved by HPD, have some savings for the down payment and meet certain income requirements.

Quick Facts

Can be used to purchase a 1-4 family home, a condominium, or a cooperative for owner-occupancy in one of the five boroughs of NYC.
Home must pass a Housing Quality Standards (HQS) inspection before purchase.
Buyers must live in the home for at least 10 years.
Buyers must have a household income up to 80% of the area median income (AMI).

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NYC - HOME FIRST OWNER ASSISTANCE

Type Of Program

Program distribution

Program Originator

Program URL

Amount

Contact

Blocks

Location

Description

AMI Limit

AMI

Employer Participation Required

Must Earn Counseling Certificate

Eligibility Limitations

Cash Sale Permitted

Cosigner Permitted

Owner Financing Permitted

Must be Primary Residence

Program Provider's Contact Name

Program Provider's Address

Program Provider's Phone

Program Provider's Email