Saving for a down payment can be difficult on Long Island, especially if you’re a first-time home buyer.
Many New Yorkers want to purchase a home but have difficulty saving enough money to make the down payment. Down payment assistance programs are out there and available on Long Island and the surrounding Burroughs. The programs listed below are on a county and state level. Don’t forget to check with the local town hall of the area you are buying a home, there may be programs available to you through the township as well.
Check out a few of these programs below and see which one is right for you:
HomeFirst Down Payment Assistance Program. Established by the New York City Department of Housing Preservation and Development (HPD), this program provides qualified home buyers with up to $15,000 toward the down payment or closing costs on a 1-4 family home, a condominium, or a cooperative in one of the five boroughs of New York City. CLICK HERE FOR DETAILS
Nassau County Home Down Payment Assistance Program. Under provisions of a federally funded program, Nassau County will provide eligible first-time home buyers with up to $25,000 towards down payment/closing costs provided that the applicant puts a minimum down payment of at least 3% of purchase price. Homes purchased must be per-existing or a newly constructed residences located within the boundaries of Nassau County. CLICK HERE FOR DETAILS.
Suffolk County Down Payment Assistance Program (DPAP) provides eligible, first-time home buyers with a conditional grant of $14,000 to use towards their down payment. The buyer is responsible for the balance of the down payment (if any) and all the closing costs. CLICK HERE FOR DETAILS.
Contact you local Charles Rutenberg Agent with questions. Our agents know the communities in which they serve and can help you with these programs.
Click here to contact an agent in your area.
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