Down-Payment & Closing-Cost Assistance

Although our offices are closed due to the COVID-19 / coronavirus pandemic, our staff is working remotely and is ready to assist you. 

HomeFirst Down-Payment Assistance Program: 10/7/2021 UPDATE

Many home buyers haven’t saved enough money for down-payment and closing costs. To assist them, the New York City Department of Housing Preservation and Development (HPD) created the HomeFirst Down-Payment Assistance Program.


NEW! This program provides qualified home buyers with up to $100,000 or 20% of the purchase price of the home toward the down-payment or closing costs on a 1- to 4-family home, a condominium, or a cooperative in any of the five boroughs of New York City.

​To qualify for the program through us, a prospective home buyer must meet all of the following criteria:​

  • Be a first-time home buyer

  • Complete a home buyer education program (counseling and a 10-hour class)

  • Have his/her own savings to contribute to down-payment or closing costs

  • Meet program income eligibility requirements (see chart above of FY 2021-2022 limits. Future limits may be different.) NOTE: Income limits have not changed. If you were not income-eligible before and there was been no change in your income, you will not be eligible now.  

  • Purchase a 1-4 family home, a condominium, or a cooperative for owner-occupancy in one of the five boroughs of New York City

  • Home purchased must pass a Housing Quality Standards (HQS) inspection before purchase

  • NEW! Home purchased must be the primary residence for at least 15 years, if grant if more than $40,000 and for 10 years if the grant is $40,000 or less.

Other eligibility criteria and restrictions may apply, including purchase price limits.


FOR MORE INFORMATION: Please register for our next webinar for more details.

HomeFirst applications may be submitted by the homeownership counselor after one-on-one counseling with eligible home buyers.

The following chart applies to both of the above assistance programs.

Family Size









Maximum Household Income

effective June 1, 2021*









Family size and household income based on area median income (AMI) calculations established by the U.S. Department of Housing and Urban Development (HUD), as listed on the website of NYC Housing Preservation and Development here:

* Limits subject to change. Must reside in home purchased for at least 10 years.

There are also purchase price limits for this grant based upon the number of units in the property purchased. For details, please go here.

Helpful Links


Buying a First Home

Let's Get Started!

For Clients In Contract

Landlord Training

More Info & Helpful Links