Homebuyers interested in the New York Homebuyer Programs must work with a New York Homebuyer Programs Participating Lender. The Lender will furnish the homebuyer with complete program guidelines, current interest rates, applicable APRs and fees and assist with the application and qualification process.

Homebuyer are matched with participating lenders upon submission of a online application.

Homebuyers that meet the minimum criteria are pre-qualified. However, there are limited funds available for approval. Homebuyers are encouraged to get pre-approved and apply as soon as possible, since applications are approved on a first come first served basis. 

There are a number of New York Homebuyer Programs available. Some are grants which are forgiven provided the homebuyer keep the home a predetermined number of years. Other programs provide funds which are repaid when the homebuyer refinances or sells their home. There are programs which act as a second mortgage with a low interest rate. There are also programs which reduce the down payment required and still others which allow the homebuyer to finance their closing costs. The lender will guide the homebuyer in selecting the best programs based on their financial goals and qualifications.

No. To qualify for the Program, the home being purchased must become the primary residence of the homebuyer. Vacation, second homes and rentals are not eligible.