New York First Time Home Buyer Grants Up To $15,000

One of the biggest obstacles to owning a home is the amount of money a borrower must have for downpayment and closing costs. To help applicants overcome this major hurdle, the State of New York Mortgage Agency (SONYMA) offers first time homebuyers down payment assistance in conjunction with SONYMA financing.




New York First Time Home Buyer GrantsFirst time buyers can get up to a $15,000 grant to apply towards the down payment and closing costs. This New York first time home buyer grant comes in the form of a zero-interest, no-payment loan that is forgiven after the homebuyer has resided in the property for a period of 10 years.

Also, The Down Payment Assistance Loan cannot exceed the actual down payment and/or closing costs associated with the mortgage loan transaction.

There are a couple more requirements with this grant program:

  • All or a portion of the Down Payment Assistance Loan may be required to be repaid or “recaptured” if the SONYMA mortgage loan is paid in full within ten (10) years of purchasing the home. The repayment of the Down Payment Assistance Loan will be reduced for each month the applicant lives in the property and the SONYMA mortgage remains outstanding.
  • Regardless of the SONYMA program for which you apply, borrowers must make a minimum cash contribution of one percent (1%) of the value of the property (three percent (3%) for cooperatives, 3- and 4-family properties)

To contact SONYMA about this grant, visit their webage, or contact them directly at:

General information and questions:     HCRInfo@nyshcr.org

HCR Mitchell-Lama & Housing Authority Hotline:     1-866-463-7753

New York City, Long Island, Hudson Valley

Greg Watson
641 Lexington Ave, New York, New York 10022
Phone: 212-688-4000

Counties Served: Bronx, Kings, New York, Queens, Richmond, Nassau, Suffolk, Rockland, Westchester, Putnam, Orange, Dutchess, Ulster, Sullivan.

Finger Lakes, Western NY, Southern Tier

Leonard Skrill
Electric Tower, Suite 105, 535 Washington Street,
Buffalo, NY 14203
Phone: 716-847-7955

Counties Served: Orleans, Genesee, Wyoming, Monroe, Livingston, Wayne, Ontario, Seneca, Yates, Niagara, Erie, Chautauqua, Cattaraugus, Allegany, Steuben, Schuyler, Chemung, Tompkins, Tioga, Broome, Chenango, Delaware

Central New York, North Country, Capital Region, Mohawk Valley

Daniel Buyer
620 West Erie Blvd., Suite 312
Syracuse, NY 13204
Phone: 315-478-7179 Ext: 200

Counties Served: Oswego, Cayuga, Onondaga, Cortland, Madison, Franklin, Clinton, St. Lawrence, Jefferson, Lewis, Hamilton, Essex, Warren, Washington, Saratoga, Schenectady, Rensselaer, Albany, Columbia, Greene, Oneida, Herkimer, Otsego, Fulton, Montgomery, Schoharie.

Capital Region, North Country

Joshua Rousseau
38-40 State St
Hampton Plaza, Albany, NY 12207
Phone: 518-473-4303

Counties Served: Franklin, Clinton, St. Lawrence, Jefferson, Lewis, Hamilton, Essex, Warren, Washington, Saratoga, Schenectady, Rensselaer, Albany, Columbia, Greene,

New York First Time Home Buyer Grants