Your real New York affordability, the HPD HomeFirst Down Payment Assistance match, and a step-by-step plan — in 30 seconds. No email required.
Calculate your New York number — free →Up to $100,000 toward down payment or closing costs. This is a New York City program only: the home must be in one of the five boroughs of New York City and be your primary residence. If you are buying elsewhere in New York State, the statewide alternative is SONYMA (the State of New York Mortgage Agency, part of NYS Homes and Community Renewal), which offers up to $15,000.
NYC Housing Preservation & Development — official HomeFirst program page →The HPD HomeFirst Down Payment Assistance is a New York City program, not a statewide one. It is a forgivable loan administered by the New York City Department of Housing Preservation and Development (HPD), and the home you buy must be in one of the five boroughs of New York City and be your primary residence. Buyers elsewhere in New York State should look instead at SONYMA, the State of New York Mortgage Agency, which is part of NYS Homes and Community Renewal and runs New York's statewide down payment assistance. Many cities and counties in New York add their own programs on top, so it is worth checking all three levels.
It depends on your income, debts and credit. The calculator applies the FHA 31%/43% debt-to-income rule to estimate your price, then shows how much of your down-payment gap New York assistance could cover. Most buyers pair it with a 3% conventional or 3.5% FHA down payment.
Many state programs set a 620 minimum credit score alongside income limits based on area median income. Exact requirements are set by the agency — verify current terms on the official HPD HomeFirst Down Payment Assistance page before applying.