Help paying for a home in New York. What's actually free, and what isn't.

New York buyers can stack real money from state, city, county and bank programs. But most of it is not a grant. This guide separates the true grants from the forgivable loans for Queens, Brooklyn, the Bronx, Nassau, Suffolk and Westchester, and links you straight to the official page to apply or read up.

  • Up to $100,000 NYC HomeFirst forgivable loan
  • Up to $60,000 FHLBNY [Federal Home Loan Bank of New York] grant stack, first gen buyers
  • Up to $17,500 Bank of America grants combined
Find programs that fit you See the top 3 first
Brick Tudor homes on a tree-lined residential street in Queens
Deadline:

The Federal Home Loan Bank of New York's 2026 Homebuyer Dream grant round ends Friday, November 27, 2026 at 5:00 p.m. ET, or sooner, when the money runs out. Some lenders have already exhausted their share.

See the program →

Read the label before you count the money

Programs and their ads use the word "grant" loosely. Every program on this page carries one of these labels. It's the single most important thing to know before you build a budget around the money.

True grant

Never repaid

Money you keep, full stop. In this market that means bank lender grants and credits, real, but smaller: $2,500 to $17,500.

Grant · with retention

Yours if you stay put

The agency calls it a grant, but you must live in the home for a set period. Sell, move or refinance early and a prorated share is repaid. The FHLBNY Homebuyer Dream Program works this way: 5 years.

Forgivable loan

A loan that's erased over time

A 0%, no payment second loan written off month by month, usually over 10 to 15 years, only if you stay and comply. Almost every big government program in New York (HomeFirst, SONYMA DPAL, the Long Island HOME programs) is this, however it's marketed.

A fourth label, Repayable, marks real loans in the sections below, useful money, but it must be paid back.

Who can use these programs

Three questions decide whether this page applies to you at all, answered plainly, before the program list.

Investment purchase? No. You have to live there

None of these programs can be used to buy a pure investment or rental property. Every one requires you to live in the home as your primary residence. One workable middle ground: a 2–4 family home where you live in one unit still counts for most programs, and the other units can be rented out.

Not a first time buyer? You may still count

Most programs are for first time buyers, but “first time” means no home ownership in the last 3 years. Someone who sold more than 3 years ago counts as a first time buyer again. A few programs have no first time rule at all: the Chase Homebuyer Grant, NACA, and the HomeReady / Home Possible 3% down mortgages.

Relocating to New York? Same rules apply

The same rules apply to you, including the 3 year rule above. Two local programs, Yonkers and New Rochelle, also require a local connection (living, working, or family there), so a brand new arrival usually cannot use those two right away.

Find your programs

Answer four quick questions. The list below narrows to the programs that fit. Closed programs hide unless you ask for them.

No programs match that combination.
Try widening the area, or include closed programs to see what may reopen. Several Long Island programs refill in rounds.

Start with these three

If you read nothing else: the biggest grant, the biggest NYC program, and the state program every SONYMA [State of New York Mortgage Agency] borrower should ask about.

Grant · statewide · ends Nov 27, 2026 $30,000–$60,000

FHLBNY [Federal Home Loan Bank of New York] Homebuyer Dream Program

The largest grant source in New York, yours in full once you've lived in the home 5 years. Up to $30,000 per household, and first generation buyers can stack a second $30,000 on top. You apply through a participating bank or credit union, never to FHLBNY directly.

Full details ↓
Forgivable loan · NYC only · open Up to $100,000

NYC HomeFirst

The largest single program for city buyers: the lesser of 20% of the price or $100,000 toward down payment or closing costs, forgiven over 10–15 years. Income cap is now 120% of AMI. Ignore older articles that say 80%.

Full details ↓
Forgivable loan · statewide · ongoing $15,000–$30,000

SONYMA DPAL [Down Payment Assistance Loan] & DPAL Plus

The state's down payment loan, layered on any SONYMA mortgage: up to $15,000 standard, up to $30,000 (DPAL Plus) if your income is at or below 60% of AMI. Forgiven month by month over 10 years.

Full details ↓

New York State programs: work anywhere in NY

These run statewide, including all five boroughs, Long Island and Westchester. The state money almost always arrives through a participating lender or a local nonprofit. You rarely apply to the agency itself.

Up to $30,000Per tier, stackable to $60,000
Open · ends Nov 27, 2026

Homebuyer Dream Program® Suite

Federal Home Loan Bank of New York, through participating member banks & credit unions

Grant · 5 year retention

Who
First time buyers (no home owned in the past 3 years). Standard HDP: income up to 80% AMI. HDP Plus: above 80% up to 120% AMI. Wealth Builder: up to 120% AMI and a first generation buyer: your parents/guardian never owned a U.S. home, or you aged out of foster care.
How
For down payment, closing costs and counseling. Keep and live in the home for the full 5 year retention period and the standard HDP grant is fully forgiven; sell, transfer or refinance inside 5 years and a prorated share is repaid. You put in at least $1,000 of your own money, and a homeownership counseling certificate is required (good for 18 months).
Limits
Income is figured on county mortgage revenue bond limits. 2026 ceilings at the 80% AMI tier: NYC boroughs $155,520 (1–2 people) / $181,440 (3+); Nassau–Suffolk $158,304 / $184,688; Westchester $163,200 / $190,400. No program purchase price cap. Your first mortgage's limits govern.

Watch out: each member bank sets its own grant amount below the $30,000 cap. One major bank describes its HDP at up to $19,500 plus $500 for education, and some credit unions offer $15,000–$20,000. Shop members. The 2026 round ($31.7M) ends Nov 27, 2026 at 5 p.m. ET or when funds run out, and individual lenders exhaust earlier. At least one credit union has already closed its 2026 Wealth Builder reservations.

Program page & member list ↗ Apply through a participating member lender. You'll need an executed purchase contract, income documents and your counseling certificate.
Up to $15,000The greater of $3,000 or 3% of price
Open · ongoing

SONYMA Down Payment Assistance Loan (DPAL)

State of New York Mortgage Agency (SONYMA) / NY Homes & Community Renewal

Forgivable loan

Who
Buyers using any SONYMA first mortgage (Achieving the Dream, Low Interest Rate, FHA Plus / Conventional Plus). DPAL can't be paired with a non SONYMA loan. First time buyer rule applies, waived for eligible veterans and for purchases in federally designated Target Areas. Your own cash contribution can be as low as 1% (3% for co-ops and 3–4 family homes).
How
0% interest, no monthly payments. Forgiven 1/120 per month over 10 years. Sell, refinance or pay off early and the unforgiven balance is recaptured (subject to a net profit calculation). Covers down payment, closing costs and single premium mortgage insurance, up to the actual amount needed.
Limits
Set by the first mortgage program, by county (reservations from July 6, 2026). Income: Achieving the Dream: NYC $162,810 (1–2 people) / $189,950 (3+); Long Island $157,720 / $184,010. Low Interest Rate: NYC and Westchester $203,520 / $237,440. 1 family purchase price limit: $1,306,970 in NYC and Long Island (higher in Target Areas). Have your lender confirm the current county table at reservation.

Watch out: despite the ads, DPAL is a loan, not a grant: HCR's own name for it is "Down Payment Assistance Loan." And a SONYMA mortgage with DPAL carries a rate 0.40% higher than the same loan without it (waived for Homes for Veterans, Graduate to Homeownership and ENERGY STAR loans).

Official DPAL page ↗ Apply only through a SONYMA participating lender. SONYMA takes no direct applications. Lender list: 1-800-382-4663.
Up to $30,000Enhanced DPAL tier, 2026 round
Open · first come, confirm funds

SONYMA DPAL Plus [Down Payment Assistance Loan Plus]

State of New York Mortgage Agency (SONYMA) / HCR

Forgivable loan

Who
SONYMA borrowers with household income at or below 60% of area median income, the dollar figure varies sharply by county and household size, and your lender confirms it. All other SONYMA rules (first time buyer, owner occupancy, property and price limits) still apply.
How
Same structure as DPAL: 0%, no payments, forgiven monthly over 10 years, recapture on an early sale or refinance. Can be used until the first mortgage reaches 80% loan to value; when combined with other subsidies or grants, DPAL Plus money is applied after the others.

Watch out: the 2026 round launched July 1, 2026, first come, first served: HCR's wording is "when funds are depleted, the program will end." As of late October 2026 the page still carries launch language, so have your lender confirm funds remain before you count on it.

Official DPAL page ↗ Through a SONYMA participating lender only.
DPAL + rate breakNot separate cash, better DPAL terms
Open · ongoing

SONYMA Homes for Veterans

State of New York Mortgage Agency (SONYMA) / HCR

Forgivable loan add on

Who
Veterans, active duty service members, Guard/reservists and spouses/co borrowers (other than dishonorable discharge; DD-214 / NGB-22). The first time buyer rule is waived.
How
Rate runs 0.40% below standard SONYMA rates on loans with down payment assistance, which cancels the usual DPAL rate bump. DPAL is available on the standard formula (greater of $3,000 or 3% of price, up to $15,000), with a 1% minimum cash contribution.
Official program page ↗ Through a SONYMA participating lender. Compare against a VA loan (0% down) before choosing.
Up to 5% of priceMinimum $3,000
Open · ongoing

SONYMA Repayable Second Lien (RSL)

State of New York Mortgage Agency (SONYMA) / HCR

Repayable loan

Who
Buyers with any SONYMA first mortgage; first time buyer rule with veteran and Target Area exceptions; SONYMA income and price limits; 1–4 family, condo, co-op or manufactured homes anywhere in NY.
How
For down payment, closing costs or single premium mortgage insurance. 0% interest and no monthly payments, but it is never forgiven.

Watch out: the full amount comes due when you sell, refinance the first mortgage, or pay it off. It also adds the same +0.40% to the first mortgage rate (waived for Veterans, Graduate to Homeownership and ENERGY STAR loans). If you qualify for DPAL instead, DPAL is the better money. It's forgiven.

Official program page ↗ Through a SONYMA participating lender.
Monthly helpToward mortgage costs, not a lump sum
Open · ongoing

HCR [Homes and Community Renewal] Housing Choice Voucher Homeownership Program

NY Homes & Community Renewal, state administered voucher areas

Ongoing assistance

Who
Voucher holders in the program for at least 1 year who are first time buyers, in areas where HCR or a local administrator runs the voucher program (including Westchester and Suffolk administrators).
How
Your voucher assistance is redirected toward monthly mortgage costs instead of rent. Requires homebuyer education, a mortgage pre approval from a HUD guideline lender, a passed HQS inspection, an independent inspection you pay for, and at least 1% of any down payment from your own funds.

Watch out: this does not cover your down payment, that's still on you. And it does not apply in New York City: NYCHA states it has no Section 8 homeownership program, so a NYCHA voucher cannot be converted to a mortgage.

Official program page ↗ Start with your voucher administrator.
Where AHC money fits: the state Affordable Housing Corporation (part of HCR) makes grants to agencies and nonprofits, not to buyers directly. You meet that money inside local programs like the Long Island ones below, where it usually arrives as a deferred or forgivable loan. HCR homebuyers page ↗

New York City

Currently, one big city program does the heavy lifting here. Note what the exclusive research did not find: there is no NYC government true grant for buying a home, no City Comptroller or City Council program, and no borough president down payment program. The city money is HomeFirst, and the grant money is FHLBNY and the banks.

Tree lined row of attached city houses with iron fences
Up to $100,000The lesser of 20% of price or $100,000
Open

HomeFirst Down Payment Assistance

NYC Dept. of Housing Preservation & Development (HPD) · serviced by NHSNYC

Forgivable loan

Who
First time buyers purchasing a 1–4 family home, condo or co-op in the five boroughs, owner occupied, with a mortgage from a HomeFirst participating lender. A homebuyer education course at an HPD approved counseling agency is mandatory. You apply through the agency. Income up to 120% of AMI (limits effective June 1, 2026):
Household1234
Max income$142,560$162,840$183,240$203,520
Household5678
Max income$219,840$236,160$252,480$268,680
How
0%, no monthly payments, toward down payment or closing costs. You must put in at least 3% of the price from your own funds and have your own savings toward the purchase. The home must pass a Housing Quality Standards (HQS) inspection before purchase. Steps: counseling agency (education + eligibility certificate) → participating lender pre approval → contract → NHSNYC reserves and releases the funds at closing.
Stay
Forgiveness period: 10 years if the loan is $40,000 or less; 15 years if it's more, and 15 years regardless of amount for City funded loans. Leave or sell early and repayment is triggered under the loan documents.
Price caps
Existing homes, 1 unit (effective Dec 1, 2025): Bronx $661,000 · Brooklyn $732,000 · Manhattan $661,000 · Queens $699,000 · Staten Island $661,000. (2 unit $846k–$936k; 3 unit $1.025M–$1.134M; 4 unit $1.27M–$1.404M; different limits for newly built homes.) These caps will drive your search.

Watch out: NHSNYC's own page still describes HomeFirst as "up to 80% AMI" with a flat 10 year term. That's outdated. HPD's current page (120% AMI; 10/15 year split) governs. Secondary sources also disagree on the NHSNYC processing fee ($1,500 vs $1,650). Have your counseling agency confirm the current fee.

Official HPD page ↗ Start with an HPD approved counseling agency. They're listed by borough on the HPD page (NHSNYC, Housing Partnership, IMPACCT Brooklyn, MHANY, Neighbors Helping Neighbors, and others). No lottery, no published closing date.
Below market priceNot cash assistance
Open · by lottery

Housing Connect Homeownership Lotteries

NYC HPD / Housing Development Corporation (HDC)

Price restricted homes

What
Income restricted condos, co-ops and 1–4 family homes sold at restricted prices, allocated by lottery. The "assistance" is the lower price. There is no cash toward your purchase, and resale restrictions apply.
Who
Income bands are set listing by listing. Applying is free, and every NYC buyer should be registered. You can't win a lottery you never enter.
ACCESS NYC overview ↗ Create a Housing Connect profile and apply to open lotteries.
Low equity buy inNot cash assistance
Waitlists · open lists vary

Mitchell-Lama Co-ops

NYC HPD / NY HCR supervised developments

Price restricted homes

What
Limited equity co-op shares at far below market equity prices, for example, Co-op City in the Bronx, where a waitlist lottery was reported open in October 2026 with equity from about $22,000 (development specific, per press reports; the official route is Mitchell-Lama Connect).
Who
Income caps vary by development type (on ACCESS NYC's table, a federally assisted co-op allows up to $141,750 for 1 person / $202,500 for 4). Veterans get preference on open lists.

Watch out: waits are typically measured in years, and resale is restricted. Your equity growth is limited by design. This is a long game, not a path to buying this season.

ACCESS NYC overview ↗ Check Mitchell-Lama Connect for currently open waitlists.
Retired: don't let anyone quote it to you: Wells Fargo's old NeighborhoodLIFT program ($20,000 grants through NHSNYC for Brooklyn, the Bronx and Queens) is not a current program; the only material still circulating is from 2017. Its successor is the Wells Fargo Homebuyer Access grant in the bank grants section.

Long Island: Nassau & Suffolk

Nearly all Long Island down payment help runs through the Long Island Housing Partnership (LIHP) or Community Development Long Island (CDLI), and as of late October 2026, only one LIHP program is actually open. The closed ones are listed so you can see what may come back in the next round, and get your counseling done now so you're first in line.

Single-family homes on a quiet residential street in Riverhead, Long Island
Up to $50,000Down payment & closing costs
Open · first come

Town of Brookhaven HOME Down Payment Assistance

Town of Brookhaven, administered by LIHP

Forgivable loan

Who
First time buyers purchasing a single family home in the Town of Brookhaven. Income up to 80% AMI (2026 figure for a 4 person household ≈ $131,450). Minimum credit score 580 for program eligibility (your lender may require more). U.S. citizen or Qualified Alien.
How
Deferred, no interest loan secured by a subordinate note and mortgage. Forgiven if the home stays in compliance for the 10 year affordability period, sell before 10 years and all funds must be repaid in full. You need at least $3,000 in savings, must put at least 3% of the price down from your own funds and cover all closing costs; post closing liquid assets are capped at $65,950 (retirement accounts excluded). $75 application fee.
Order
Get the LIHP purchase certificate before you sign a contract, and condition the contract on the home passing the Federal Housing Quality Standards inspection and the Town's written eligibility approval. No short sales, foreclosures or bank owned/REO homes.

Verify before you sign: the 2025 guidelines cap the purchase price at $551,000, while a 2026 guide states $599,000. LIHP itself warns buyers to confirm the current figure first: call 631-435-4710 or email brookhaven@lihp.org.

Official LIHP page ↗ The only LIHP county/town program currently open, applications accepted first come, first served until funding is exhausted.
Up to $50,000Down payment & closing costs
Closed

Nassau County HOME Down Payment Assistance

Nassau County Office of Housing, administered by LIHP

Forgivable loan

Who
First time buyers of single family homes in Nassau County meeting Federal Housing Quality Standards. Income up to 80% of median (2025 guidelines: 1 person $92,350 · 2 $105,550 · 3 $118,750 · 4 $131,900 · 5 $142,500 · 6 $153,050 · 7 $163,600 · 8 $174,150). You must meet your lender's minimum down payment and secure a mortgage; Nassau County approval required; cannot be combined with another Nassau HOME funded program.
How
0% deferred loan, forgiven after 15 years. LIHP is blunt that the owner must live in the home as a principal residence for the full 15 years or HUD will require full repayment.

Status: the application period is closed (verified on LIHP's site October 26, 2026). The 2025 round had a June deadline and no 2026 reopening date is posted. Don't wait on it. Use the state and bank programs that are open now, and complete LIHP/CDLI counseling in the meantime so you're ready when it reopens; it fills fast. When it's open: apply through LIHP, and don't sign a contract before program approval.

LIHP program page ↗ Check back for the next round.
Up to $30,000Down payment only, no closing costs
Closed

Suffolk County HOME Consortium Down Payment Assistance

Suffolk County HOME Consortium, administered by LIHP

Forgivable loan

Who
First time buyers (HUD 3 year rule) with income up to 80% AMI (2024 guidelines: 1 person $87,500 · 2 $100,000 · 3 $112,500 · 4 $124,950 · 5 $134,950 · 6 $144,950 · 7 $154,950 · 8+ $164,950), at least $3,000 of your own funds banked at application, and a one on one mortgage counseling certificate. Maximum appraised value $551,000. The guidelines also set a documented minimum income ($30,000 in 2024; the 2023 round used $40,000, the figure changes by round).
How
Zero interest deferred loan secured by a subordinate note and mortgage, forgiven after 10 years. Single family, condo, co-op or manufactured home on owned land, owner occupied.

The geography trap: this program only covers the Consortium towns: East Hampton, Huntington, Riverhead, Shelter Island, Smithtown, Southampton and Southold (with village carve outs). Babylon, Islip and Brookhaven do not participate; they run their own programs. Status: closed (verified October 26, 2026). LIHP says check back for future rounds.

LIHP program page ↗ Watch LIHP for reopening announcements.
Up to $50,000Down payment & closing costs
Closed

Town of Babylon HOME Down Payment Assistance

Town of Babylon, administered by LIHP

Forgivable loan

Who
First time, income eligible buyers (HOME standard: up to 80% AMI for Nassau/Suffolk) of a single family home in the Town of Babylon, who satisfy their lender's minimum down payment and secure a mortgage.
How
Forgivable on HOME terms: live in the home 10 years or HUD will require full repayment. (Older references to a $20,000 Babylon program are superseded by the current $50,000 figure.)

Status: closed (verified October 26, 2026). Babylon buyers today should use the SONYMA + FHLBNY + bank grant stack and watch LIHP for a reopening.

LIHP program page ↗ Check back for the next round.
$25,000–$60,000Tiered by household, income & repairs
Open · while funding lasts

CDLI "NYS First Time Homebuyer Grant Program"

Community Development Long Island (CDLI)

Forgivable / deferred loan

Who
First time buyers with gross income below 120% AMI, buying a co-op, condo, single family or legal two family home in Nassau or Suffolk, owner occupied. CDLI NeighborWorks homebuyer education and counseling are mandatory, and an engineer's report is required. CDLI's rehab staff manage the repair bidding and contractors.
How
Award tiers of $25,000 / $32,500 / $40,000 / $50,000 / $60,000, set by household size, income and repair needs. 0%, no payments, 10 year term, secured by a note and mortgage. Stay 10 years or repay; a refinance or title transfer inside the term triggers recapture (or needs an approved subordination). Awards over $50,000 carry a minimum 20 year occupancy/repayment schedule.

Read the name carefully: despite "Grant" in its title, this is a deferred loan, and 51% of the money must be spent on post closing home repairs, which is why the award grows with the repair scope. CDLI's own caveat: "in effect while funding is available, the program may end at any time." Confirm by phone (631-471-1215) before relying on it.

Official CDLI page ↗ Apply through CDLI, 631-471-1215.
Up to $75,000Largest suburban repayable option
Open · while funding lasts

CDLI Down Payment & Closing Cost Assistance Loan

Community Development Long Island (CDLI) Funding Corporation

Repayable loan

Who
First time buyers with income up to 120% AMI (all household members' income counted), buying a co-op, condo, single family or legal two family home in Nassau or Suffolk, owner occupied, at a purchase price of $500,000 or less. You must hold a commitment for a fixed rate first mortgage from a NYS approved lender; combined loan to value capped at 105% of appraised value; CDLI NeighborWorks education required; $120 nonrefundable application fee.
How
A real second loan: fixed rate 4%, 4.25% or 4.5% depending on loan size, term up to your first mortgage's term, secured by a mortgage, with monthly repayment. It can be combined with your own funds up to 20% down specifically to avoid PMI.
Official CDLI page ↗ Apply through CDLI after (or alongside) your first mortgage commitment, 631-471-1215.
$3,000–$10,000Employer contribution, matched with public funds
Active

Employer Assisted Housing Program (EAHP)

Long Island Housing Partnership, with participating employers

Grant or loan, set by your employer

Who
Employees in good standing of a participating Nassau/Suffolk employer (117–135+ Long Island employers historically), buying in Nassau or Suffolk. The standard design is first time buyers with LIHP counseling.
How
Your employer contributes $3,000–$10,000, matched with public funding (NYS AHC / HOME / HELP) for down payment and rehabilitation. LIHP tailors each employer's plan, and the money can be structured as a grant, forgivable loan, deferred loan, repayable loan, matched savings or rate buydown, the label depends on your employer's plan. One verified example: Brookhaven National Laboratory staff receive LIHP/EAHP funds as a grant with no repayment expected if they stay 5–10 years, plus up to $5,000 net extra from the lab, on a first to close basis.
Official LIHP page ↗ Ask your HR department first, then LIHP, eahp@lihp.org · 631-435-4710.

Westchester County

There is no Westchester County wide cash down payment program for 2026. That's a negative finding, not an oversight. What exists: two city programs (both forgiven in just 5 years, the fastest forgiveness on this page) and the county's price restricted HomeSeeker homes. Everyone else in Westchester uses the state, FHLBNY and bank programs above.

Up to 19% of priceDown payment only, no closing costs
New · applications after Nov 9, 2026

City of Yonkers First time Homebuyer DPA

City of Yonkers, with Westchester Residential Opportunities (WRO)

Forgivable loan

Who
First time buyers with income up to 120% AMI (1 person $142,450 · 2 $162,800 · 3 $183,150 · 4 $203,550 · 5 $219,800 · 6 $236,100), buying an existing or new single family home, condo or co-op in Yonkers as a primary residence (the purchase must not displace a tenant). You contribute at least 1% of the price from your own funds, qualify for a mortgage, and complete HUD approved homebuyer education plus one on one counseling.
Tie
A Yonkers connection is required: (a) you've lived in Yonkers at least 12 months, or (b) you're the child of a current Yonkers resident who meets the 12 month rule, or (c) you own or operate a Yonkers business.
How
0% deferred loan with a subordinate mortgage, forgiven after just 5 years of compliance and primary residence. Sell, transfer or fall out of compliance inside 5 years and repayment may be required. The dollar amount is set in underwriting. No dollar cap is published.

Sequence matters: applications open after the November 9, 2026 information session (further sessions Nov 12, 16 and 19; the Nov 9 and 12 English sessions were already at capacity when checked). Program approval, valid 90 days to find a home, must come before you sign a contract of sale. WRO counsels and processes; the City approves.

Program site: owninyonkers.com ↗ Register for an information session first.
Up to 19% of priceReported cap $125,590, confirm
Operating · confirm funding

City of New Rochelle Down Payment Assistance

City of New Rochelle, administered by Westchester Residential Opportunities (WRO)

Forgivable loan

Who
First time buyers (waived for honorably discharged veterans with a DD-214 in the original program) with income up to 80% AMI (2025 table: 1 person $95,200 · 4 persons $136,000) and documented minimum income of $40,000. You contribute at least 1% of the price; HUD agency counseling and education, an HQS inspection, and a purchaser certificate before contract are all required.
How
Down payment only. You contribute the remaining 1%. A 0% deferred second mortgage, forgiven after 5 years of principal residence occupancy, with annual occupancy checks.
New
Eligibility widened effective May 14, 2026: beyond 12 month current residents, it now includes people employed full time in New Rochelle for 2+ years, New Rochelle business owners, and former residents who lived in the city 2+ years.

Confirm first: the $125,590 cap comes from a secondary summary of the city program. The city's own current program page wasn't available for this research, so verify the cap and current funding with WRO before you market a number to anyone.

Program expansion details (HGAR) ↗ Administered by WRO, start with their counseling intake.
Restricted priceNot cash assistance
Open

Westchester HomeSeeker

Westchester County

Price restricted homes

What
Affordable homes for sale built under county programs (NHLA / HOME / Fair & Affordable Housing). The "assistance" is the restricted purchase price itself. There is no cash toward your down payment.

The trade: these homes carry affordability covenants, 50 years in many cases (sometimes shorter), with limited resale profit, and resale only to an income eligible buyer. The county also funds WRO's homebuyer counseling, which is worth using even if you buy elsewhere in the county.

HomeSeeker FAQs ↗ Register to see current listings.
Old name, dead product: any reference to a Westchester "First Home Club" $7,500 matched savings benefit comes from a dated county resources page. That FHLB matched savings product has effectively been succeeded by the Homebuyer Dream Program. Use that instead.

Bank & lender grants: the true grants

These are the only programs on this page with no repayment and no stay put period. They're smaller than the government money, but they're real grants, they can often be stacked on top of it, and several are decided by the property's census tract, so eligibility can follow the address, not just your income.

Up to $17,500Two grants combined
Open · now ongoing

Bank of America: Down Payment Grant + America's Home Grant®

Bank of America

True grant

What
Down Payment Grant: 3% of the purchase price, up to $10,000, for the down payment only. America's Home Grant®: up to $7,500 lender credit for non recurring closing costs (title, recording) or a permanent rate buydown, not for the down payment. Combined ceiling: $17,500, the richest bank stack on this page.
Who
Modest income buyers; the Down Payment Grant is for first time buyers (no ownership in 3 years), with income limits on the paired 3% down mortgage. Available in select markets and on select products.

In BofA's words: "The funds do not require repayment." In 2026 the bank made its Community Homeownership Commitment ongoing and indefinite, no round, no deadline.

BofA affordable programs ↗ Apply through a BofA lending specialist, and ask for both grants by name.
$2,500–$7,500Depends on the property's census tract
Open · tract specific

Chase Homebuyer Grant℠

Chase Home Lending

True grant

What
Applied first to points/rate buydown, then Chase fees, then other fees and the down payment (it can't be used for the down payment on an FHA loan).
Who
Primary residence purchases in an eligible census tract only, with a DreaMaker, Standard Agency, FHA or VA loan. Notably, it is not limited to first time buyers. Income limits and education requirements may apply on DreaMaker.

Conflicting figures. Verify the address: Chase's own guide (April 2026) describes the grant as "$2,500 or $5,000," while JPMorganChase's announcement raised it to $7,500 in majority black/Hispanic/Latino census tracts and lists New York among the $7,500 markets. The $7,500 is tract specific, not citywide. Have a Chase advisor check the exact property address before anyone promises either number.

Chase grant guide ↗ Check tract eligibility with a Chase Home Lending Advisor before you go to contract.
$10,000 + up to $5,000Grant plus a closing cost credit
Open

Wells Fargo Homebuyer Access® + Dream. Plan. Home.®

Wells Fargo Home Mortgage

True grant

What
Homebuyer Access grant: a flat $10,000, for the down payment only. The full amount must be applied to it, on a primary residence. Dream. Plan. Home. closing cost credit: up to $5,000 toward one time closing costs (processing, appraisal, etc.). The two stack.
Who
Homebuyer Access requires a Wells Fargo fixed rate conventional loan (no FHA, VA, ARM or non conforming loans), income limits set by the property's location, and the borrower or the property in an eligible area. The NYC metro is one of the program's original metros, with an income ceiling reported at 120% AMI in launch metros.

In Wells Fargo's words: "The money never has to be repaid." One tax note: the grant may be taxable income (reported on a 1099-MISC), flag it for your tax preparer.

Wells Fargo down payment help ↗ Use the online eligibility lookup, then a Wells Fargo consultant.
Up to $7,500Nonrepayable lender credit
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Citi Lender Paid Assistance (with HomeRun®)

Citi Mortgage

True grant · credit

What
Up to $7,500 toward closing costs first, with any remainder applied to a rate buydown. It cannot be used for the down payment, prepaids or escrows, and there's no cash back. Pairs with the HomeRun mortgage (3% down, no PMI).
Who
Primary residence purchases in a market with Citi branches. The NY metro is expressly listed, and either income under 120% AMI or a property in a low to moderate income tract. A homebuyer course from a Citi approved agency is required; purchase loans only.
Citi HomeRun details ↗ Citi mortgage specialist, 1-877-482-5614.
Ask the loan officerAmount not published online
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M&T Bank Grant Program

M&T Bank

True grant

What
M&T's affordable mortgages page confirms a grant program for first time buyers covering down payment, closing costs, out of pocket costs and mortgage insurance, but publishes no dollar cap online, so the current figure has to come from the loan officer.
Why M&T
M&T wears several hats on this page: it's an FHLBNY member (so it can deliver Homebuyer Dream money), a SONYMA participating lender, and on HPD's HomeFirst lender list, one stop for stacking.
M&T affordable mortgages ↗ Ask an M&T mortgage professional for the current grant amount.
One more credit to ask every lender about: Fannie Mae's HomeReady and Freddie Mac's Home Possible (3% down mortgages at up to 80% AMI, available through any lender) carry a $2,500 credit for very low income (up to 50% AMI) first time buyers, per current lender guidance. It's small and genuinely free, confirm current availability with your lender. Separately: no standalone TD Bank grant was found; TD's offers are the Right Step and Home Access mortgages in the next section.

Not grants: mortgages that cut your cash to close

These are repayable loans, not assistance dollars. They belong on the page because for many buyers they solve the same problem a grant would: getting in with little or no money down.

$0 down, $0 closing costsNo PMI · no minimum credit score
Open

NACA [Neighborhood Assistance Corporation of America] "Best in America" Mortgage

Neighborhood Assistance Corporation of America

Repayable mortgage

What
A below market fixed rate mortgage with no down payment, no closing costs (lender paid), no fees, no PMI and no minimum credit score, funded through bank commitments (including Bank of America). There is no assistance dollar amount, the benefit is 100% financing and waived costs.
Who
You can't hold an ownership interest in any other property at closing, and you must occupy the home for as long as the NACA mortgage is in place. Qualification runs on documented payment history and budget through NACA's counseling process, workshop, then a counselor, then a "NACA Qualified" letter, not a credit score cutoff. Priority terms favor buyers at or below the area median, or buying in priority areas. Single family, condo, co-op, multi family and mixed use can all work.

The trade: NACA is the only route here that doesn't gate on a FICO score, in exchange for its counseling pipeline, which is often slow. Start early and set your timeline accordingly.

Start with a free NACA Homebuyer Workshop, then the counselor qualification process.
3% downSeveral with no borrower paid PMI
Open

Low Down Payment Mortgages Worth Comparing

Major lenders, all repayable mortgages

Repayable mortgage

Citi
HomeRun: 3% down, no PMI, primary residence. Its cash sweetener is the Lender Paid Assistance credit in the bank grants section.
TD
Right Step: 3% down, lender paid PMI, for income under 80% AMI or a low to moderate income tract. Home Access: 3% down, no borrower paid PMI, and a $5,000 lender credit per TD's product comparison sheet (one secondary review says up to $10,000, not confirmed on TD's site; ask TD).
M&T
Home Starter: low/no down payment, no borrower paid mortgage insurance, non traditional credit allowed, available in NY counties, and M&T's delivery channel for SONYMA and Homebuyer Dream money.
Any lender
Fannie Mae HomeReady / Freddie Mac Home Possible: 3% down at up to 80% AMI at any lender, plus the $2,500 very low income first time buyer credit noted above.
TD affordable loans ↗ M&T first time buyer programs ↗

The short answer, by situation

The combinations a broker would actually put together, buyer type by buyer type.

NYC buyer under 80% AMI [Area Median Income]

Lead with HomeFirst (up to $100,000) through an HPD counseling agency, and in parallel have an FHLBNY member quote the $30,000 Dream grant, plus a bank grant from your first mortgage lender (Bank of America's $17,500 combined is the richest bank stack). Get the homebuyer education certificate first, and let HomeFirst's price caps ($661k Bronx / $699k Queens / $732k Brooklyn for a 1 unit) drive the search.

NYC buyer at 80–120% AMI

HomeFirst still works. The cap is 120% now, whatever older articles say. Add HDP Plus ($30,000) if the member offers it, and Chase, Wells Fargo or Citi credits by tract and product. If the home busts HomeFirst's price cap, the fallback is a SONYMA Low Interest Rate mortgage with DPAL, SONYMA's NYC 1 family cap is $1,306,970.

Income at or below 60% AMI, anywhere in NY

DPAL Plus ($30,000, forgivable) on a SONYMA Achieving the Dream mortgage is the deepest state help available, but have the lender confirm the 2026 fund isn't depleted before you build a plan on it.

Nassau County buyer

The county's $50,000 program is closed. Don't wait for it. Use SONYMA DPAL/DPAL Plus + the Dream grant + bank grants now. If your employer participates in EAHP, add that. Take LIHP/CDLI education now so you're first in line when Nassau reopens, and check the CDLI $75,000 loan if your price is $500,000 or under.

Suffolk buyer: Brookhaven vs. everywhere else

In Brookhaven: move now. The town's $50,000 forgivable program is the only open LIHP program, first come until the money is gone. Get the purchase certificate before signing, and condition the contract on the HQS inspection. In Babylon or the Consortium towns: those programs are closed (and the Consortium never covered Babylon, Brookhaven or Islip anyway), use the state and bank stack, and watch LIHP for reopenings.

Westchester buyer

With a Yonkers connection (you live there, a parent lives there, or you own a business there) or a New Rochelle tie, the city programs, up to 19% of the price, forgiven in just 5 years, beat everything else in the county. Everyone else: SONYMA (Westchester shares NYC's high limits) + the Dream grant + bank grants, and register for HomeSeeker price restricted resales.

Veteran or active duty

Start with a VA loan (0% down) and compare SONYMA Homes for Veterans, first time rule waived, DPAL available, and the usual +0.40% DPAL rate bump waived. Suffolk's county program has also exempted honorably discharged veterans from the first time rule in past rounds.

Thin or damaged credit, or no score at all

NACA is the only route here that doesn't gate on a FICO score: $0 down, no closing costs, no PMI. The price is its counseling pipeline and its rule that you occupy the home for the life of the loan.

Slightly over every income cap (120%+ AMI)

No government program fits. The remaining levers are the tract based bank grants with no (or a property based) income test, Chase in eligible tracts, Citi's low to moderate income tract route, TD Right Step tracts. Eligibility follows the property address, so steer the search toward qualifying tracts.

Before you rely on a number

Five things this research could not pin down from official pages, flagged honestly rather than smoothed over. A good lender or counseling agency can confirm each one in a phone call.

  • DPAL Plus remaining funds. HCR's page still carries "launches July 1st" language. Only a participating lender can confirm the 2026 money is still there.
  • Brookhaven's price cap. $551,000 in the 2025 guidelines vs. $599,000 in a 2026 secondary guide. LIHP (631-435-4710) must confirm before you sign.
  • Chase: $7,500 or $5,000. Chase's April 2026 guide caps its description at $5,000; the $7,500 tier is documented in JPMorganChase's 2024 announcement and NY market list. It's tract level. Check the exact address.
  • New Rochelle's $125,590 cap and current funding come from a secondary summary and the city's 2025 presentation; the city's own current program page wasn't available. Confirm with WRO.
  • M&T's grant amount isn't published online, TD's Home Access credit is $5,000 on TD's sheet but $10,000 in one review, HomeFirst's processing fee appears as both $1,500 and $1,650 in secondary sources, and whether HomeFirst, SONYMA and HDP money can all stack in one transaction isn't stated on HPD's page. NHSNYC/your counseling agency confirms for a specific deal.

Not sure which of these you actually qualify for?

I'm your real estate broker, and I'll help you sort through these programs and map the stack that fits you. The programs interact, income limits differ by county, some can't be combined, and two of the best ones expire or exhaust without much warning, so tell me where you're buying, your rough budget and your timeline. One thing to be clear on: I'm not a counseling program. Once we've picked the programs that fit, you'll contact that program's counseling agency directly, most of these programs require their course or intake before you can apply, and the agency takes it from there.

Call or text 917-727-0375 Email mrmodo@gmail.com