 HomeFirst Down Payment Assistance Program Many New Yorkers want to buy a home but don’t have enough money saved for their down payment and closing costs. As part of Mayor Bloomberg’s and now Mayor de Blasio’s “New Housing Marketplace Plan,” the New York City Department of Housing Preservation and Development (HPD) created the HomeFirst Down Payment Assistance program. It provides qualified homebuyers with up to $15,000 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 loan, a prospective homebuyer must meet all of the following criteria:
You may also wish to take HPD’s informative e-learning course, First-time Property Buyers, online at: https://partner.hpdnyc.org/whalecom91b91cefd0e02442d748c87a2d067a/whalecom0/poeclasses/. This course is a solid first step in understanding the home buying process; however, please note that it does not qualify as a required course under the Homefirst Down Payment Assistance program. To take the first step toward purchasing a home through the HomeFirst Down Payment Assistance Program, contact any one of the following HPD-approved counseling agencies:
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