Skip to content
Purchase Mortgage Loan
Get Pre-Approved

First-time home buyer programs in Glen Cove, NY

Quick answer

First-time buyers in Glen Cove, NY can use 3%-down conventional loans (up to the $1,209,750 Nassau County conforming limit), 3.5%-down FHA, or VA and USDA where eligible, plus 1 verified city, county or statewide assistance program. On the $654,500 median home, 3% down is about $19,635 and the estimated payment is $5,588/month at 7.18%.

By Purchase Mortgage Loan Editorial Team Checked against official sources per our editorial standardsData last updated

Median household income: $91,355; value-to-income ratio 7.16. Glen Cove ranks 36 by home value and 52 by population among 202 places in our NY dataset.

What does a first-time buyer loan cost on a typical Glen Cove home?

ItemGlen Cove
Median home value (Census ACS)$654,500
New York median home value$403,000
Down payment (3%)$19,635
Loan amount$634,865
Estimated monthly payment (PITI + MI)$5,588
Income needed (28% / 36%)$240,000 / $187,000
Nassau County 2026 conforming limit (1 unit)$1,209,750
Max purchase price at the limit$1,247,000

Rate assumption: 7.18% (Freddie Mac PMMS 30-year fixed average, week of November 5, 2026). Change it in the payment calculator.

Payment includes New York's 1.60% effective property tax rate (Census ACS), $1,801/yr homeowners insurance (NAIC state average) and an estimated 0.5% PMI.

What is the 2026 conforming loan limit in Glen Cove?

Glen Cove is in Nassau County. Conventional 3%-down loans go up to the $1,209,750 conforming limit (price ≈ $1,247,000); FHA loans go up to $1,249,125.

The Glen Cove median home value of $654,500 is 62% above the New York median, and within what the county limit supports.

Which down payment assistance programs can Glen Cove buyers use?

First-time buyer loans in nearby cities

Port WashingtonRyeMamaroneckGreat NeckNew RochellePort Chester

First-time buyer loan FAQs for Glen Cove

On the $654,500 median: 3% conventional ≈ $19,635, 3.5% FHA ≈ $22,908, and 0% for eligible VA or USDA buyers. Conventional loans above $1,209,750 in Nassau County become jumbo loans.

At the $654,500 median value (above the New York median of $403,000), the estimated payment of $5,588/month at 7.18% needs about $240,000 a year under the 28% housing guideline, or $187,000 if your total debts stay under 36%.

0 city-level, 0 county-level and 1 statewide programs are verified for this city (1 total). Check each official administrator's eligibility rules and available funds.

Sources

Data last updated October 23, 2026.

Get matched with First-time buyer lenders in Glen Cove

Answer a few quick questions and get matched with purchase mortgage lenders in your area. Free, and it won't affect your credit score.

Get My Matches

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.