First-Time Buyer Assistance: Where to Start in New York
Check eligibility, funding and conditions through official HomeFirst and SONYMA channels rather than treating the maximum assistance as approved funds.
For NYC, with Queens examples. General information; obtain professional advice for the specific transaction.
阅读中文全文 →Check official programs with approved housing counselors and participating lenders before deciding what you can afford. Your eligibility, the property, funding availability and application timing can all affect the outcome.
B Square Realty can help with a home search based on confirmed requirements, but does not approve government assistance or guarantee that funds will be available for a particular closing.
Two official starting points
NYC HomeFirst. HPD describes assistance of up to $100,000 for qualifying first-time purchasers of an owner-occupied 1–4 family home, condo or co-op in NYC. Its current page specifies counseling, income and property limits, own-funds requirements, and continuing occupancy conditions. Start with an HPD-approved counselor. Do not assume you will receive the maximum award. NYC HPD — HomeFirst Down Payment Assistance
SONYMA. New York State offers mortgage programs through participating lenders. Ask which program fits your household and proposed property, and whether an available assistance option can be used with it. Do not assume all programs can be combined. New York HCR — SONYMA
Use this eligibility conversation checklist
Bring a target price range, borough or county, household size and a general financing summary. Ask the counselor to confirm:
Swipe sideways to see every column.
| Question | Why you need a written answer |
|---|---|
| How does this program define a first-time buyer? | Prior ownership may matter; the everyday meaning is not enough. |
| Which income and asset rules apply to my household? | A mortgage preapproval does not establish program eligibility. |
| Is this exact property type and price eligible? | Check before relying on assistance in an offer. |
| How much of my own money is required? | Gifts and personal savings may be treated differently. |
| What are the occupancy and repayment obligations? | A later sale, move or refinance may matter. |
| When are funds reserved and released? | Application or education completion is not the same as a funded commitment. |
| Which lender and inspection steps are required? | The purchase timeline must allow for them. |
This is a preparation checklist, not a substitute for the current program terms.
Coordinate the program before making an offer
If your offer depends on assistance, check eligibility as early as possible. Keep confirmed available cash, a scenario assuming assistance, and funds formally confirmed for the transaction separate in your budget. Ask your lender and attorney how program conditions affect the contract and financing timeline.
Can a parent who will not live in the home co-sign for HomeFirst? HomeFirst does not allow non-occupying co-signers, co-borrowers or guarantors to help an applicant obtain the mortgage. This restriction appears in the February 18, 2025 term sheet linked from HPD’s current program page, checked November 14, 2026. HPD HomeFirst term sheet, page 1
Ask an HPD-approved counselor and participating lender to review your proposed borrowers before relying on assistance. Check other programs separately; this HomeFirst rule is not a rule for every first-time buyer loan.
Can I spend the maximum advertised amount? Only the program’s actual approval and conditions can answer that.
Will checking a program obligate me to buy? Reviewing published information is different from signing a purchase or loan agreement. Read any documents you are asked to sign.
Use the current agency and lender lists on the official pages. Tell the counselor which language you prefer and ask whether assistance is available in that language.
Sources & context
This is general home-buying and selling information, not individual advice. Confirm current requirements and how they apply to you with the appropriate legal, lending, tax, inspection or insurance professional.
Bring your property questions.
An agent can help organize what to check and do next. Confirm financing matters with your lender and legal matters with your attorney.
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