SONYMA, the state's mortgage agency, makes 30-year fixed loans with as little as 3% down and adds a Down Payment Assistance Loan of up to $15,000 that is forgiven after 10 years — at the cost of a 0.40% higher rate. New York City's HomeFirst goes much further: up to $100,000 toward the down payment or closing costs for buyers earning up to 120% of area median income. Brookhaven (up to $50,000), Suffolk County's consortium towns (up to $30,000, forgiven after 10 years) and Albany (up to $14,900) add local help.
State of New York Mortgage Agency (SONYMA), NYS Homes and Community Renewal
30-year fixed-rate mortgage, no points, down payment as low as 3% (3% down payment assistance available)
RepaymentRegular monthly payments
Works withBuyer contributes at least 1% cash (3% for co-ops); can be combined with DPAL
Funds limited, first-come, first-served
SONYMA, NYS Homes and Community Renewal
SONYMA's lowest-rate 30-year fixed mortgage, no points, down payment as low as 3%
RepaymentRegular monthly payments
Works withBuyer contributes at least 1% cash (3% for co-ops); can be combined with DPAL
Funds limited, first-come, first-served
SONYMA, NYS Homes and Community Renewal
The greater of $3,000 or 3% of the price, up to $15,000
Repayment0% interest, no monthly payments, forgiven after 10 years (repayable amount falls 1/120 per month)
Works withOnly with a SONYMA mortgage; adds 0.40% to the first-mortgage rate (not on Graduate to Homeownership, Homes for Veterans or ENERGY STAR loans)
Not every participating lender offers DPAL
SONYMA, NYS Homes and Community Renewal
Up to $30,000 (enough to bring the first mortgage to 80% LTV)
Repayment0% interest, forgiven in equal monthly installments over the first 10 years of occupancy; first-mortgage rate is 0.40% higher
Works withAny SONYMA bond-program purchase mortgage
Limited pool: $7.5 million total
Federal Home Loan Bank of New York, through participating member banks
Grant set by program guidelines (ask a participating member)
RepaymentGrant
Works withMortgage from a participating FHLBNY member
2026 rounds open; $31,670,000 allocated on February 9, 2026
NYC Department of Housing Preservation and Development (HPD)
Up to $100,000 toward the down payment or closing costs
RepaymentForgivable loan; live in the home at least 10 years (loans up to $40,000) or 15 years (larger loans; City-funded loans always 15)
Works withParticipating lender; buyer puts at least 3% of the price from own funds
Town of Brookhaven (administered with Long Island Housing Partnership)
Up to $50,000 toward down payment and closing costs
RepaymentLive in the home at least 10 years or repay the HOME assistance in full
Works withBuyer meets the lender's minimum down payment
First come, first served until funds are exhausted
Suffolk County Office of Community Development
Up to $30,000 toward the down payment (closing costs not covered)
RepaymentZero-interest deferred loan, forgiven after 10 years if the home isn't sold, transferred or rented out
Works withBuyer has at least $3,000 of own funds; first mortgage from a lender
The posted 2024 guidelines set an April 1, 2025 application deadline, while the County's portal still takes the 2024 application first-come, first-served — confirm a current round with the Office of Community Development
Albany Community Development Agency (listed by the Affordable Housing Partnership, a HUD-approved counseling agency)
Up to $14,900, based on need
RepaymentTerms from ACDA
Works withOften combined with home repair funds
SONYMA doesn't offer a mortgage credit certificate. New York's MCC status, sources and calculator.
Amounts, limits and funding change during the year, and many local programs run out of money before the year ends — confirm current terms with the agency or a participating lender before you apply. Spotted an outdated program? Tell us.
What each program's own terms ask of you. "Not stated" means the official page doesn't publish it — the agency or the first-mortgage lender sets it. Most programs count you as a first-time buyer if you haven't owned a home in three years; see the federal definitions and exceptions.
| Program | First-time buyer | Min. credit score | Income limit | Price limit | Homebuyer education |
|---|---|---|---|---|---|
| SONYMA Low Interest Rate Program | Required unless you are an eligible military veteran or buy in a Target Area | Not stated | Regional income limits by county (see income-limits/NY.json, effective for reservations from July 6, 2026) | SONYMA purchase price limits by region | Homebuyer education course required |
| SONYMA Achieving the Dream | Required unless you are an eligible military veteran or buy in a Target Area | Not stated | Lower regional income limits than the Low Interest Rate Program (SONYMA's published ATD table is dated July 25, 2022 — confirm with a lender) | SONYMA limits by region | Homebuyer education course required |
| SONYMA Down Payment Assistance Loan (DPAL) | Through the SONYMA first mortgage | Not stated | SONYMA first-mortgage limits | SONYMA first-mortgage limits | Through the SONYMA first mortgage |
| DPAL Plus 2026 | Required, except veterans (not dishonorably discharged) or homes in federally targeted areas | Not stated | Household income up to 60% of AMI | $500,000 | Homebuyer education before loan approval |
| Homebuyer Dream Program (HDP) Suite | Required | Not stated | Low-to-middle income (program guidelines) | Not stated | Not stated |
| HomeFirst Down Payment Assistance Program | Required | Not stated | Up to 120% of AMI ($142,560 for one person; $203,520 for four) | Existing homes at or below 95% of HUD's purchase price limits (e.g., Kings $732,000 1-unit) | Homebuyer education course from an HPD-approved counseling agency |
| Town of Brookhaven HOME Down Payment Assistance Program | Required | Not stated | Income-eligible (HOME program) | Not stated | Not stated |
| Suffolk County HOME Consortium Down Payment Assistance Program | Required (no home owned in the prior three years); waived for honorably discharged U.S. military veterans | Not stated | 80% of area median income ($87,500 for one person, $124,950 for four in the 2024 guidelines) | Appraised value up to $551,000 | One-on-one mortgage counseling at a HUD-certified nonprofit agency |
| City of Albany down payment and closing cost assistance | Not stated | Not stated | Not stated | Not stated | Not stated |
SONYMA's Low Interest Rate Program sets income and purchase price limits by county, with higher limits in Target Areas. Effective for reservations from July 6, 2026. Achieving the Dream uses lower limits; DPAL Plus caps income at 60% of area median income.
| County | Income, 1–2 people | Income, 3+ people | Target area, 1–2 | Target area, 3+ | Price limit, 1-family | Target area price |
|---|---|---|---|---|---|---|
| Albany | $123,100 | $141,565 | $147,720 | $172,340 | $566,350 | $692,210 |
| Allegany | $111,900 | $128,685 | $134,280 | $156,660 | $566,350 | $692,210 |
| Bronx | $203,520 | $237,440 | $203,520 | $237,440 | $1,306,970 | $1,597,410 |
| Broome | $111,900 | $128,685 | $134,280 | $156,660 | $566,350 | $692,210 |
| Cattaraugus | $111,900 | $128,685 | $134,280 | $156,660 | $566,350 | $692,210 |
| Cayuga | $111,900 | $128,685 | $134,280 | $156,660 | $566,350 | $692,210 |
| Chautauqua | $111,900 | $128,685 | $134,280 | $156,660 | $566,350 | $692,210 |
| Chemung | $111,900 | $128,685 | $134,280 | $156,660 | $566,350 | $692,210 |
| Chenango | $111,900 | $128,685 | $134,280 | $156,660 | $566,350 | $692,210 |
| Clinton | $111,900 | $128,685 | $134,280 | $156,660 | $566,350 | $692,210 |
| Columbia | $116,800 | $134,320 | $140,160 | $163,520 | $566,350 | $692,210 |
| Cortland | $111,900 | $128,685 | $134,280 | $156,660 | $566,350 | $692,210 |
| Delaware | $111,900 | $128,685 | $134,280 | $156,660 | $566,350 | $692,210 |
| Dutchess | $125,900 | $144,785 | $151,080 | $176,260 | $566,350 | $692,210 |
| Erie | $111,900 | $128,685 | $134,280 | $156,660 | $566,350 | $692,210 |
| Essex | $111,900 | $128,685 | $134,280 | $156,660 | $566,350 | $692,210 |
| Franklin | $111,900 | $128,685 | $134,280 | $156,660 | $566,350 | $692,210 |
| Fulton | $111,900 | $128,685 | $134,280 | $156,660 | $566,350 | $692,210 |
| Genesee | $111,900 | $128,685 | $134,280 | $156,660 | $566,350 | $692,210 |
| Greene | $111,900 | $128,685 | $134,280 | $156,660 | $566,350 | $692,210 |
| Hamilton | $111,900 | $128,685 | $134,280 | $156,660 | $566,350 | $692,210 |
| Herkimer | $111,900 | $128,685 | $134,280 | $156,660 | $566,350 | $692,210 |
| Jefferson | $111,900 | $128,685 | $134,280 | $156,660 | $566,350 | $692,210 |
| Kings | $203,520 | $237,440 | $203,520 | $237,440 | $1,306,970 | $1,597,410 |
| Lewis | $111,900 | $128,685 | $134,280 | $156,660 | $566,350 | $692,210 |
| Livingston | $111,900 | $128,685 | $134,280 | $156,660 | $566,350 | $692,210 |
| Madison | $111,900 | $128,685 | $134,280 | $156,660 | $566,350 | $692,210 |
| Monroe | $111,900 | $128,685 | $134,280 | $156,660 | $566,350 | $692,210 |
| Montgomery | $111,900 | $128,685 | $134,280 | $156,660 | $566,350 | $692,210 |
| Nassau | $197,160 | $230,020 | $197,160 | $230,020 | $1,306,970 | $1,597,410 |
| New York | $203,520 | $237,440 | $203,520 | $237,440 | $1,306,970 | $1,597,410 |
| Niagara | $111,900 | $128,685 | $134,280 | $156,660 | $566,350 | $692,210 |
| Oneida | $111,900 | $128,685 | $134,280 | $156,660 | $566,350 | $692,210 |
| Onondaga | $111,900 | $128,685 | $134,280 | $156,660 | $566,350 | $692,210 |
| Ontario | $111,900 | $128,685 | $134,280 | $156,660 | $566,350 | $692,210 |
| Orange | $125,900 | $144,785 | $151,080 | $176,260 | $566,350 | $692,210 |
| Orleans | $111,900 | $128,685 | $134,280 | $156,660 | $566,350 | $692,210 |
| Oswego | $111,900 | $128,685 | $134,280 | $156,660 | $566,350 | $692,210 |
| Otsego | $111,900 | $128,685 | $134,280 | $156,660 | $566,350 | $692,210 |
| Putnam | $203,520 | $237,440 | $203,520 | $237,440 | $1,306,970 | $1,597,410 |
| Queens | $203,520 | $237,440 | $203,520 | $237,440 | $1,306,970 | $1,597,410 |
| Rensselaer | $123,100 | $141,565 | $147,720 | $172,340 | $566,350 | $692,210 |
| Richmond | $203,520 | $237,440 | $203,520 | $237,440 | $1,306,970 | $1,597,410 |
| Rockland | $203,520 | $237,440 | $203,520 | $237,440 | $1,306,970 | $1,597,410 |
| Saratoga | $123,100 | $141,565 | $147,720 | $172,340 | $566,350 | $692,210 |
| Schenectady | $123,100 | $141,565 | $147,720 | $172,340 | $566,350 | $692,210 |
| Schoharie | $123,100 | $141,565 | $147,720 | $172,340 | $566,350 | $692,210 |
| Schuyler | $111,900 | $128,685 | $134,280 | $156,660 | $566,350 | $692,210 |
| Seneca | $111,900 | $128,685 | $134,280 | $156,660 | $566,350 | $692,210 |
| St. Lawrence | $111,900 | $128,685 | $134,280 | $156,660 | $566,350 | $692,210 |
| Steuben | $111,900 | $128,685 | $134,280 | $156,660 | $566,350 | $692,210 |
| Suffolk | $197,160 | $230,020 | $197,160 | $230,020 | $1,306,970 | $1,597,410 |
| Sullivan | $111,900 | $128,685 | $134,280 | $156,660 | $566,350 | $692,210 |
| Tioga | $111,900 | $128,685 | $134,280 | $156,660 | $566,350 | $692,210 |
| Tompkins | $118,000 | $135,700 | $141,600 | $165,200 | $566,350 | $692,210 |
| Ulster | $117,300 | $134,895 | $140,760 | $164,220 | $566,350 | $692,210 |
| Warren | $111,900 | $128,685 | $134,280 | $156,660 | $566,350 | $692,210 |
| Washington | $111,900 | $128,685 | $134,280 | $156,660 | $566,350 | $692,210 |
| Wayne | $111,900 | $128,685 | $134,280 | $156,660 | $566,350 | $692,210 |
| Westchester | $203,520 | $237,440 | $203,520 | $237,440 | $1,306,970 | $1,597,410 |
| Wyoming | $111,900 | $128,685 | $134,280 | $156,660 | $566,350 | $692,210 |
| Yates | $111,900 | $128,685 | $134,280 | $156,660 | $566,350 | $692,210 |
Sources: SONYMA Low Interest Rate Program (hcr.ny.gov). Limits are reset every year — check the agency's current table before you apply.
The 10 counties with the most home purchases, priced at each county's median list price. SONYMA DPAL: the greater of $3,000 or 3% of the price, up to $15,000. In 2 of 10, the income it takes to carry that home still fits under the program's limit for a household of one or two (larger households get higher limits).
| County | Median list price | Cash to close | DPAL covers | You still need | Income to afford | SONYMA income limit (1–2 people) | Fits the program? |
|---|---|---|---|---|---|---|---|
| Suffolk | $899,000 | $45,203 | $15,000 | $30,203 | $324,000 | $197,160price limit $1,306,970 | Income needed is above the limit |
| Nassau | $949,000 | $46,953 | $15,000 | $31,953 | $342,000 | $197,160price limit $1,306,970 | Income needed is above the limit |
| Queens | $649,500 | $36,471 | $15,000 | $21,471 | $234,000 | $203,520price limit $1,306,970 | Income needed is above the limit |
| Erie | $279,150 | $23,508 | $8,375 | $15,134 | $101,000 | $111,900price limit $566,350 | Yes |
| Kings | $808,033 | $42,019 | $15,000 | $27,019 | $292,000 | $203,520price limit $1,306,970 | Income needed is above the limit |
| Westchester | $682,000 | $37,608 | $15,000 | $22,608 | $246,000 | $203,520price limit $1,306,970 | Income needed is above the limit |
| New York | $1,385,000 | $62,213 | $15,000 | $47,213 | $500,000 | $203,520price limit $1,306,970 | Price is above the limit |
| Orange | $550,000 | $32,988 | $15,000 | $17,988 | $198,000 | $125,900price limit $566,350 | Income needed is above the limit |
| Richmond | $700,000 | $38,238 | $15,000 | $23,238 | $253,000 | $203,520price limit $1,306,970 | Income needed is above the limit |
| Bronx | $329,000 | $25,253 | $9,870 | $15,383 | $119,000 | $203,520price limit $1,306,970 | Yes |
Estimates, not a quote. Median list price: Realtor.com, October 2026. Cash to close = 3.5% down (the FHA minimum) + $13,738, New York's average closing costs including transfer taxes (closing costs by state). Income to afford = principal and interest at 7.18% (Freddie Mac 30-year average), the 0.55% FHA annual premium, New York's 1.41% effective property tax and 0.32% homeowners insurance, kept within 28% of gross income. The program also has to accept the home and you — see the requirements above.
Prefilled with New York's $615,000 median list price, 3.5% down, 2.2% closing costs and SONYMA Down Payment Assistance Loan (DPAL)'s terms, including the 0.40% higher rate that comes with it. Change any field to match your quote.
Forgiven by year 10, so nothing is owed at a sale in year 10.
SONYMA forgives the DPAL a little each month (1/120 a month over 10 years); the calculator treats it as forgiven at year 10, so if you sell sooner you would owe less than it shows.30-year fixed first mortgage; monthly figures are principal and interest only. Assistance is capped at your down payment plus closing costs. For the full monthly payment with New York's taxes and insurance, use the New York mortgage calculator.
Most assistance sits on top of an FHA, VA or USDA loan, or a 97% conventional one. Of the 117,420 conventional, FHA and VA first mortgages made to buy a home in New York in 2025, 9.0% were FHA and 3.2% VA, against 18.7% and 9.7% nationally. The median 30-year fixed FHA purchase loan was $325,000 (U.S. $305,000), and those borrowers paid a median $12,546 in total loan costs (U.S. $11,291).
Source: HMDA 2025 loan-level records, first-lien home-purchase originations. HMDA doesn't record whether a borrower is a first-time buyer, and the lenders listed aren't necessarily approved for SONYMA's programs — find those through SONYMA — programs and participating lenders.
| Lender | FHA purchase loans | Share |
|---|---|---|
| United Shore Financial Services, LLC | 1,545 | 14.7% |
| Premium Mortgage Corporation | 681 | 6.5% |
| Rocket Mortgage, LLC | 603 | 5.7% |
| Homestead Funding Corp. | 588 | 5.6% |
| Crosscountry Mortgage, Inc. | 502 | 4.8% |
139 lenders made FHA purchase loans in New York. Compare them on New York mortgage lenders.
Yes. SONYMA's DPAL gives the greater of $3,000 or 3% of the price, up to $15,000, at 0% and forgiven over 10 years; DPAL Plus 2026 adds up to $30,000 for buyers at or below 60% of area median income on homes up to $500,000, from a $7.5 million pool.
New York City's HomeFirst offers up to $100,000, and FHLBNY member banks give Homebuyer Dream Program grants.
For the Low Interest Rate Program, $111,900 for a household of one or two in most upstate counties, $123,100 in Albany, $197,160 in Nassau and Suffolk and $203,520 in New York City and Westchester (more for three or more people and in target areas). These apply to reservations from July 6, 2026.
For SONYMA, owning a home in the past three years — unless you're an eligible military veteran or buying in a Target Area. You also won't qualify if you own a residential investment property or vacation home and plan to keep it. HomeFirst and DPAL Plus require first-time buyers too.
Up to $100,000 as a forgivable loan toward the down payment or closing costs on a 1–4 family home, condo or co-op in the five boroughs.
You must earn up to 120% of AMI ($142,560 for one person), put in at least 3% of the price from your own funds and live in the home 10 years (loans up to $40,000) or 15 years (larger loans).
At FHA's 3.5% minimum, $10,000 covers the down payment on a home up to about $285,000 — but New York closing costs average $13,738 on top.
SONYMA programs need just 1% of your own cash (3% for co-ops), and a DPAL can cover much of the rest.
How we built this page: each program was read on its official page — the agency's, city's or county's own site, or the Internet Archive's copy of that page where the site blocked our checker — on October 22, 2026, and every amount and limit above appears on the source we link. By the Editorial Team; see our editorial policy and methodology.