Unlocking Homeownership: NYC's $100K Boost for First-Time Buyers!

Dreaming of owning a home in New York City but feeling priced out? There's great news for first-time homebuyers! The city has supercharged its HomeFirst Down Payment Assistance Program, now offering up to $100,000 to help make homeownership a reality. And guess what? The income limit has expanded to include more people—so if you've been on the fence, this might be your chance to jump in!

What's New?

The HomeFirst program just got a massive $82 million boost, making homeownership within reach for even more New Yorkers. Here’s what you need to know:

✅ Up to $100,000 in Assistance – This funding can go toward your down payment or closing costs on a one-to-four family home, condo, or co-op in any of NYC’s five boroughs.

✅ Higher Income Limits – Now, individuals and families earning up to 120% of the Area Median Income (AMI) are eligible! Previously, the cap was set at 80% AMI, meaning more moderate-income buyers can take advantage of this program.

✅ More People Can Qualify – If you thought you made too much money to receive assistance, think again! This expanded eligibility means teachers, first responders, healthcare professionals, and many middle-class workers can finally get a leg up in NYC’s competitive housing market.

✅ Five-Year Forgivable Loan – The assistance comes as a forgivable loan—which means if you live in the home for at least five years, you don’t have to pay it back! However, if you sell or move out before the five-year mark, you may have to repay a portion of the assistance. – The assistance comes as a forgivable loan—which means if you live in the home for at least five years, you don’t have to pay it back!

Who’s Eligible?

To qualify, you must: ✔️ Be a first-time homebuyer ✔️ Have a household income at or below 120% of AMI (Check the latest AMI figures to see where you stand!) ✔️ Complete a homebuyer education course through a city-approved provider ✔️ Plan to live in the home as your primary residence

Why This Matters

Buying a home in NYC has never been easy, and for many, the dream has felt out of reach. But with this historic expansion of the HomeFirst program, more New Yorkers can finally stop renting and start building equity. This initiative isn’t just about helping people buy homes—it’s about creating stability, wealth, and stronger communities.

How to Apply

Don’t wait—funding is limited! If you’re serious about homeownership, visit the official NYC Housing Preservation & Development (HPD) website for full details and to start the process:
🔗 NYC.gov/HomeFirst

This is your moment, NYC! Whether you’re tired of paying rent, looking for a place to build your future, or just need that final push—this program could be the key to unlocking your first home. Don’t let this opportunity slip by!