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HomeFirst Down Payment Assistance Program

Quick answer

HomeFirst Down Payment Assistance Program is a New York down payment assistance program from NYC Department of Housing Preservation and Development (HPD). It provides Up to $100,000 as a forgivable loan. It is aimed at first-time buyers. Eligibility, income limits and funding are set by the agency, so confirm current terms on its official page.

By Purchase Mortgage Loan Editorial Team Checked against official sources per our editorial standardsLast verified

Eligibility notes

Citywide (all five boroughs); 1-4 family, condo or co-op; buyer must contribute at least 3% from own funds; homebuyer education via HPD-approved counseling agency; 10-15 year occupancy requirement; income limits effective 6/01/26.

Where does HomeFirst Down Payment Assistance Program apply?

This city-level program is available to buyers in New York City. Cities on our site where it applies:

DetailProgram terms
AssistanceUp to $100,000
TypeForgivable loan
Minimum creditNot published on the program page
First-time buyerRequired
Income limits120% AMI

How does HomeFirst Down Payment Assistance Program work with an FHA loan?

New York's 2026 FHA one-unit limits start at $541,287, which supports a price of about $560,000 with 3.5% down.

Where do I confirm current terms?

On the official page: https://www.nyc.gov/site/hpd/services-and-information/homefirst-down-payment-assistance-program.page. Programs can pause when funds run out, so confirm availability with a participating lender.

← All New York down payment assistance programs

Frequently asked questions

Up to $100,000, according to NYC Department of Housing Preservation and Development (HPD).

It's a forgivable loan: forgiven if you meet the occupancy period, otherwise repaid.

120% AMI

Sources

Data last updated October 25, 2026.

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Figures on this page are estimates for educational purposes only and are not a loan offer or commitment to lend. Rates, loan limits, fees and assistance programs change frequently and vary by lender, location and borrower profile. Confirm current terms with a licensed loan officer.