New York County, NY First-Time Home Buyer Programs and Down Payment Help
New York County buyers can apply to 2 local down payment programs, with help up to $100,000 through HomeFirst Down Payment Assistance Program, on top of New York's statewide programs. Figures below were read from the administering agencies' own pages on September 11, 2026.
Local programs in New York County
These are run by City of New York (all five boroughs), New York City (statewide program with NYC-specific income limits), separate from the state housing finance agency, and can usually be combined with a state loan. Check the program page for current funding before you apply.
| Program | Type | Amount | Income limit | First-time only | Where |
|---|---|---|---|---|---|
| HomeFirst Down Payment Assistance Program City of New York (all five boroughs) (NYC Department of Housing Preservation and Development (HPD)) · source | forgivable second (deferred loan) | Up to $100,000 toward down payment or closing costs | Up to 120% of Area Median Income; for a family of 4, $203,520 (effective 6/1/2026) | Yes | 1-4 family home, condo, or co-op for owner-occupancy anywhere in New York County (Manhattan) and the other four boroughs |
| Down Payment Assistance Loan (DPAL) Plus 2026 New York City (statewide program with NYC-specific income limits) (State of New York Mortgage Agency (SONYMA), NYS Homes and Community Renewal) · source | 0% interest deferred second loan, forgiven over 10 years | Up to $30,000 toward down payment, closing costs, or single-premium mortgage insurance | Maximum household income 60% of AMI; | Yes | Must be combined with a SONYMA first-mortgage Bond Program loan; |
- HomeFirst Down Payment Assistance Program. Loan is forgiven over 10 years (loans <=$40,000) or 15 years (loans >$40,000; 15 years for all City-funded loans regardless of amount) of owner-occupancy. Requires HPD-approved homebuyer education and a minimum 3% buyer-funded down payment/deposit.
- Down Payment Assistance Loan (DPAL) Plus 2026. A total of $7.5M is available statewide for this limited program (funds can run out). 0.40% interest-rate increase applies to the first-lien SONYMA loan.
Income limits in New York County
Down payment programs here are keyed to HUD's income limits for New York, NY HUD Metro FMR Area (Bronx, Kings, New York, Putnam, Queens, Richmond, Rockland, Westchester Counties) (fiscal year 2026): the area median family income is $104,300 and the 80% limit that most programs use is $135,700 for a four-person household. Limits scale with household size; each program page has the full table. HUD income limits
New York statewide programs you can also use in New York County
State of New York Mortgage Agency (SONYMA), NYS Homes and Community Renewal (homebuyer programs page) runs 8 statewide programs open to buyers anywhere in New York, with down payment help up to $30,000 through DPAL PLUS 2026. Most local programs above can be combined with a state first mortgage; check each program's pairing rule.
| Program | Type | Amount | First-time only | Min. credit | Income limit |
|---|---|---|---|---|---|
| Down Payment Assistance Loan (DPAL) source | Forgivable second loan | Minimum $1,000; maximum 3% of the purchase price (up to $15,000) or $3,000, whichever is highest | No | n/a | See program page |
| DPAL PLUS 2026 source | Second mortgage | Up to $30,000 to pay down payment, closing costs and single premium mortgage insurance until the purchase-money mortgage reaches 80% LTV | No | n/a | Maximum household income of 60% of Area Median Income (AMI) |
| Achieving the Dream Program source | First mortgage | See program page | Yes | n/a | See program page |
| Low Interest Rate Program source | First mortgage | See program page | No | n/a | See program page |
| Homes for Veterans source | First mortgage | See program page | No | n/a | See program page |
| Graduate to Homeownership source | First mortgage | See program page | No | n/a | See program page |
| RemodelNY Program source | Program | See program page | No | n/a | See program page |
| Manufactured Home Loan Program source | First mortgage | See program page | No | n/a | See program page |
New York County closing costs that differ from the rest of New York
Transfer tax: NYC Real Property Transfer Tax (RPTT): 1% of price if $500,000 or less, 1.425% if over $500,000 (1-3 family houses, individual condo units, individual co-op units); typically paid by the seller. Plus NYS Real Estate Transfer Tax: $2 per $500 of consideration (0.4%), also typically seller-paid. Plus NYS 'mansion tax' (buyer-paid) of 1% on residential sales of $1,000,000 or more, rising in tiers up to 3.9% at $25 million and above; because Manhattan sales frequently exceed $2 million and $3 million, many New York County buyers also owe NYS supplemental and additional base transfer taxes on top of the base RPTT. Source
Owner's title policy: buyer (customary in NYC, unlike most of the rest of NY State)
Buyer also pays the combined NYS/NYC Mortgage Recording Tax, commonly cited at 1.8% of the loan amount under $500,000 and 1.925% at $500,000 or more for 1-3 family/condo purchases (NYS basic 0.50% + special additional 0.25% + additional 0.25%/0.30% MCTD + NYC local tax);
Frequently asked questions
What down payment assistance is available in New York County, NY?
HomeFirst Down Payment Assistance Program (City of New York (all five boroughs), up to $100,000); Down Payment Assistance Loan (DPAL) Plus 2026 (New York City (statewide program with NYC-specific income limits), up to $30,000). New York statewide programs can be used here too.
What is the income limit for first-time buyer programs in New York County?
Most programs cap income at 80% of HUD's area median, which is $135,700 for a four-person household in New York, NY HUD Metro FMR Area (Bronx, Kings, New York, Putnam, Queens, Richmond, Rockland, Westchester Counties) (FY2026). Some programs allow up to 120% or 150% of median; each program page lists its own table by household size.
Is there a transfer tax in New York County?
NYC Real Property Transfer Tax (RPTT): 1% of price if $500,000 or less, 1.425% if over $500,000 (1-3 family houses, individual condo units, individual co-op units); typically paid by the seller. Plus NYS Real Estate Transfer Tax: $2 per $500 of consideration (0.4%), also typically seller-paid. Plus NYS 'mansion tax' (buyer-paid) of 1% on residential sales of $1,000,000 or more, rising in tiers up to 3.9% at $25 million and above; because Manhattan sales frequently exceed $2 million and $3 million, many New York County buyers also owe NYS supplemental and additional base transfer taxes on top of the base RPTT.
What is the median home price in New York County?
About $1,090,500, per U.S. Census Bureau QuickFacts: New York County, New York - Median value of owner-occupied housing units, 2020-2024 (ACS 5-Year). Down payment help of up to $100,000 covers roughly 9% of that price.
Official sources
- City of New York (all five boroughs): HomeFirst Down Payment Assistance Program
- New York City (statewide program with NYC-specific income limits): Down Payment Assistance Loan (DPAL) Plus 2026
- HUD income limits
- New York County transfer tax
- New York County recording fees
- U.S. Census Bureau QuickFacts: New York County, New York - Median value of owner-occupied housing units, 2020-2024 (ACS 5-Year)
- Real estate transfer tax - NYS Department of Taxation and Finance
- Mortgage recording tax - NYS Department of Taxation and Finance
New York County figures last verified against official sources on September 11, 2026.
Other New York counties
This is general information, not financial advice. Program funding, limits and terms change; confirm the current rules with the administering agency and your lender before you rely on them.
See down payment help in all covered counties