HomeFirst Down Payment Assistance 

Up to $40,000 toward down payment or closing costs

Many New Yorkers want to purchase a home but have difficulty saving enough money to make the down payment. HPD’s HomeFirst Down Payment Assistance Program provides qualified homebuyers with up to $40,000 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.

Program Eligibility

A prospective homebuyer must:

  • 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
  • Purchase a 1-4 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
  • Live in the home for at least 10 years 
  • Have a household income up to 80% AMI

Family Size

Maximum Household Income Up to 80% AMI*

1 $59,750
2 $68,300
3 $76,850
4 $85,350
5 $92,200
6 $99,050
7 $105,850
8 $112,700

*Must reside in home purchased  for  at least 10 years

Effective Date -  6/28/19
Source: U.S. Department of Housing and Urban Development


Process

Community-based counseling agencies certified by HUD  and approved by HPD to participate in the HomeFirst program will promote the program through newsletters, flyers, and seminars; distribute program guidelines; and enroll consumers in Homebuyer Education classes. The counseling agencies will also certify income eligibility for the Down Payment Assistance Program, counsel consumers about program requirements, certify completion of Homebuyer Education classes, and refer consumers to participating lenders for pre-approval. Contact any one of the following HPD-approved counseling agencies.

Counseling Agencies

Click a borough, or press the enter key on a borough, to reveal the counseling agencies in that borough.

Bronx

The Bronx NHS CDC, Inc.
1451 East Gun Hill Road 2nd Fl.
Bronx, NY 10469
Tel: 718-881-1180
Languages: English and Spanish


NHSNYC-South Bronx
2475 Westchester Avenue
Bronx  NY 10461
Tel: 718-502-3300
Languages: English and Spanish

Brooklyn

MHANY Management
470 Vanderbilt Avenue
Brooklyn, NY 11238
Tel: 718-246-8080
Languages: English and Spanish


NHS of Brooklyn CDC, Inc.
2806 Church Avenue
Brooklyn, NY 11226
Tel: 718-469-4679
Languages: English


IMPACCT Brooklyn
1000 Dean Street, Ste 420
Brooklyn, NY 11238
Tel: 718-522-2613 x315
Languages: English


Bridge Street Development Corporation
460 Nostrand Avenue
Brooklyn, New York, 11216
Tel: 718-399-0146
Languages: English


Brooklyn Neighborhood Services
506 MacDonough Street, 1St Fl
Brooklyn, NY 11233
Tel: 718-919-2100
Languages: English and Spanish


Neighbors Helping Neighbors
621 DeGraw Street
Brooklyn, NY 11217
Tel: 718-237-2017 x151
Languages: English


GROW Brooklyn
1474 Myrtle Avenue
Brooklyn, NY 11237
Tel: 718-418-8232 x2060
Languages: English and Spanish

Manhattan

Abyssinian Development Corporation
Abyssinian Towers
HELP Homeownership Program
50 West 131st Street, Lower Level
New York, NY  10037
Tel: 646-442-6545
Languages: English and Spanish


Harlem Congregations for Community Improvement
256 West 153rd Street
New York, NY 10039
Tel: 212-281-4887 x231
Languages: English and Spanish


NHS of NYC Homeownership Center
307 West 36 Street 12th Fl.
New York, NY, 10018
Tel: 718-732-8100
Languages: English and Spanish


Asian Americans For Equality
2 Allen Street, 7th Fl.
New York, NY 10002
Tel: 212-964-2288
Languages: Mandarin, Cantonese


Housing Partnership Development Corporation
253 West 35th Street, 3rd Fl.
New York, NY 10001
Tel: 646-217-3392
Language: English

Queens

Asian Americans For Equality
35-34 Union Street
Flushing, NY 11354
Tel: 718-961-0888
Languages: Mandarin, Cantonese


Margert Community Corporation
325 Beach 37th Street
Far Rockaway, NY 11691
Tel: 718-471-3724
Languages: English and Spanish


NHS of Queens CDC, Inc.
60-20 Woodside Avenue 2nd Fl.
Woodside, NY 11377
Tel: 718-457-1017
Languages: English and Spanish


Chhaya CDC
37-43 77th Street, 2nd Fl.
Jackson Heights, NY 11372
Tel: 718-478-3848 x12
Languages: Bangla/Bengali, English, Hindi, and Urdu


NHS of Jamaica
89-70 162nd Street
Jamaica, NY 11432
Tel: 718-291-7400 x13
Languages: English

Staten Island

NHS of Staten Island, West Brighton
192 Corson Avenue
Staten Island, NY 10310
Tel: 718-442-8080
Languages: English and Spanish


Northfield Community Local Development Corporation
160 Heberton Avenue
Staten Island, NY 10302
Tel: 718-442-7351
Languages: English

Upon the successful completion of the Homebuyer Education class, prospective homebuyesr will receive a certificate that verifies their eligibility for the forgivable loan of up to $40,000 towards the downpayment or closing costs on a new home. The certificate is valid for six months, with a subsequent six-month renewal period. After receiving the certificate, prospective homebuyers begin the path to homeownership. 

Step 1: Present the certificate of eligibility to a participating lender for pre-approval on a mortgage loan.

Step 2: After receiving pre-approval from a participating lender, consult a reputable real estate professional to identify an affordable home.

Step 4: Hire a real estate lawyer.

Step 5: Negotiate a contract of sale with the seller.

The homebuyer education counselors will be available to assist program participants throughout the home buying process. Program participants are encouraged to take advantage of this resource.

Program Administration

Neighborhood Housing Services of New York City (NHS) administers the program on HPD's behalf. As administrator, NHS works with the homebuyer and the representative from the counseling agency to:
  • Request from the homebuyer copies of:
    • Homebuyer education certificate
    • HomeFirst Certificate of Eligibility
    • Bank pre-approval
    • Sales contract
  • Receive the Homefirst application
    • Review signed contract
    • Verify eligibility of property based on location and type of property
    • Verify income of mortgage applicants
    • Verify eligibility of Homefirst applicants
    • Review pre-approval and verify lender is a participating lender
  • Reserve funds for closing
  • Receive copy of lender commitment letter
  • Receive confirmation of closing date
  • Release funds for closing