Who Qualifies for HomeFirst Down Payment Assistance in NYC?
To qualify for the HomeFirst Down Payment Assistance Program, applicants must meet the following eligibility criteria:

First-Time Homebuyer Requirements:
Applicants must be purchasing their first home and complete a homebuyer education course through an HPD-approved counseling agency. All applicants are required to work with an HPD-approved Housing Counseling Agency to submit a complete 2025 HomeFirst Loan Application with all required documentation.

Financial Eligibility
The program requires borrowers to demonstrate personal financial investment by providing a minimum down payment or contract deposit of at least 3% of the total purchase price from their own savings. Applicants must also meet household income requirements up to 120% of Area Median Income (AMI).

Property Requirements
Eligible properties include 1-4 unit family homes, condominiums, or cooperatives located in any of New York City’s five boroughs (Manhattan, Brooklyn, Queens, The Bronx, or Staten Island). The property must be owner-occupied and pass a Housing Quality Standards (HQS) inspection prior to purchase.
Occupancy Commitment
Homeowners must occupy the property as their primary residence for a minimum period based on loan amount:
   •    10 years for loans up to $40,000
   •    15 years for loans exceeding $40,000
   •    15 years for all City-funded loans regardless of amount

Ready to Apply?
Contact an HPD-approved Housing Counseling Agency today to begin your HomeFirst application and take the first step toward affordable homeownership in New York City.