Grants, forgivable loans, and subsidized mortgages — many New York buyers qualify for $154,500+ in assistance and don't even know it.
Find your programs →Click any program for full details, eligibility, and how to apply.
Up to $15,000 (3% of price). 0% interest, no monthly payments, fully forgiven after 10 years.
Forgivable loanHouse-hack eligibleUp to $30,000 for low-income buyers (≤60% AMI). 0% interest, forgiven after 10 years.
Forgivable loanHouse-hack eligibleLowest SONYMA rates. 30-year fixed, 3% down (only 1% from you). For low-income first-time buyers.
Subsidized loanHouse-hack eligibleCompetitive fixed rate, 3% down, works on 1-4 family homes, condos, co-ops, and manufactured homes.
Subsidized loanHouse-hack eligibleCombines Fannie Mae HomeReady with SONYMA DPA in one application. Not limited to first-time buyers.
Subsidized loanHouse-hack eligibleFor NY graduates within 48 months of earning a degree. Special rates and terms.
Subsidized loanHouse-hack eligibleLower interest rates than standard SONYMA plus down payment assistance for veterans and active military.
Veteran benefitHouse-hack eligibleUp to $100,000 toward down payment on a 1-4 unit property in the five boroughs. Forgivable after 10-15 years.
Forgivable loanHouse-hack eligibleUp to $9,500 grant toward down payment and closing costs through participating NY lenders.
Grant3.5% down payment with 580+ credit. The most popular first-time buyer loan in America.
Subsidized loanHouse-hack eligibleZero down payment, no PMI for eligible veterans and active-duty service members.
Federal benefitHouse-hack eligibleZero down payment for rural and suburban areas. 97% of US land qualifies.
Subsidized loan3% down with reduced mortgage insurance for low-to-moderate income buyers.
Subsidized loanHouse-hack eligible3% down with flexible funding sources including gifts and employer assistance.
Subsidized loanHouse-hack eligibleNo down payment, no closing costs, no PMI, below-market rate. Character-based lending.
Nonprofit programHouse-hack eligible50% off purchase price for teachers, law enforcement, firefighters, and EMTs.
GrantThere are 9 state-specific programs and 7 federal programs available in New York, totaling 16 programs.
Not all programs require first-time buyer status. Several New York programs are available to repeat buyers. 'First-time buyer' means you haven't owned a home in the past 3 years.
Yes. Many DPA programs allow 1-4 unit properties. Live in one unit and rent the others — this is called house-hacking.