17 New York First-Time Home Buyer Grants

By NerdWallet 
Updated
Edited by Alex Richards
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First-time home buyer grant programs are one way to make buying a house in New York more affordable. Rather than saving up the cash all on your own, first-time home buyer grant programs provide money you can use for a down payment and closing costs, among other things.

What is a first-time home buyer grant?

First-time home buyer grants are available through a variety of entities, including city and county governments, community development organizations and nonprofits. In many cases, the money doesn’t have to be repaid.

Each grant program has its own terms, conditions and eligibility requirements, but in general, applicants must:

  • Be a first-time home buyer.

  • Take a home buyer education course.

  • Satisfy income requirements.

  • Satisfy purchase price requirements.

  • Occupy the house as your primary residence.

  • Purchase in an approved location.

Grants aren’t the only programs for first-time home buyers in New York, of course. The State of New York Mortgage Agency, or SONYMA, offers affordable mortgages and other assistance options you may find helpful.

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