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Down-Payment & Closing-Cost Assistance

HomeFirst Down-Payment Assistance Program

The HomeFirst Down Payment Assistance Program provides qualified homebuyers with up to $100,000 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.

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

  • 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

  • Make a minimum down payment of 3% of the purchase price towards the home purchase, 1% of the contract deposit must be sourced from the buyer's own funds

  • Purchase a 1-4 unit 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 if the loan received is less than or equal to $40,000

    • 15 years if the loan is greater than $40,000

  • Have a maximum household income up to 80% AMI (see chart below)

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.

Income Limits (Updated 6/15/2023)

Family Size









Maximum Household Income Up to 80% AMI









Buyers receiving a down payment assistance loan less than or equal to $40,000 must reside in the home purchased for at least 10 years. Buyers receiving loan greater than $40,000 must reside in the home purchased at least 15 years.

Family size and household income based on area median income (AMI) calculations established by the U.S. Department of Housing and Urban Development (HUD) effective as of June 15, 2023. 

For more information on the 2023 HOME Program Income limits and methodology see HUD’s website at:

Helpful Links


Buying a First Home

Let's Get Started!

For Clients In Contract

Landlord Training

More Info & Helpful Links

Attend a free First-Time Home Buyer Webinar

Attend a free Financial Coaching & Credit Improvement Webinar

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