Up to $100,000 toward down payment on a 1-4 unit property in the five boroughs. Forgivable after 10-15 years.
NYC HomeFirst is the crown jewel of city-level DPA programs, offering up to $100,000 toward the purchase of a 1-4 unit property in the five boroughs. The program is structured as a forgivable loan — live in the home for 10-15 years and the entire amount is forgiven. For house-hackers, this means you can buy a Brooklyn fourplex with $100K in DPA, live in one unit, and rent three.
Income limits apply and are based on household size and area median income. The program is administered by the NYC Department of Housing Preservation and Development (HPD) and requires completion of a homebuyer education course. Given the cost of real estate in New York City, HomeFirst represents one of the highest-value DPA programs in the nation — turning the city's high prices from a barrier into an opportunity for those who qualify.
1-4 unit properties eligible. Buy a fourplex in Brooklyn with $100K DPA, live in one unit, rent three. This is one of the best house-hack programs in the country.
We'll show you how to combine NYC HomeFirst with other programs to maximize your free money — personalized to your ZIP code and income.