Down Payment Help


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Chhaya CDC

37-43 7th Street, 2nd Floor
Jackson Heights, NY - 11372
(718) 478-3848

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About Chhaya CDC

HomeFirst Down Payment Assistance Program

Many New Yorkers want to purchase a home but have difficulty saving enough money to make the down payment. The New York City Department of Housing Preservation and Development (HPD) established the HomeFirst Down Payment Assistance Program, which provides qualified homebuyers with up to $15,000 toward the down payment or closing costs on a 1-4 family home, a condominium, or a cooperative in one of the five boroughs of New York City.

To qualify for the loan, a prospective homebuyer must meet all of the following criteria:

Be a first-time homebuyer
Complete a homebuyer education course taught by an HPD-approved counseling agency
Have his/her own savings to contribute to the down payment or closing costs
Meet program income eligibility requirements ($68,700 is the maximum household income for a family of four. Maximum annual income varies depending on family size). Click here for details about family composition and income limits
Purchase a 1-4 family home, a condominium, or a cooperative for owner-occupancy in one of the five boroughs of New York City
The home purchased must pass Housing Quality Standards (HQS) inspection before Purchase
Live in the home purchased for at least 10 years

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