Bootcamp For Buyers

First Time Homebuyer Programs in New York

New York offers a range of first-time homebuyer programs through the State of New York Mortgage Agency (SONYMA). These programs provide financial assistance, competitive mortgages, and valuable resources to make homeownership attainable.

Achieving the Dream Program

The Achieving the Dream Program offers low-interest mortgages for eligible first-time buyers.

  • Features 30-year fixed-rate loans with below-market interest rates.
  • Designed for low- to moderate-income buyers.
  • Income and purchase price limits apply based on location and household size.

SONYMA Down Payment Assistance Loan (DPAL)

The DPAL Program provides financial support for down payments and closing costs.

  • Offers up to $15,000 in assistance as a forgivable loan.
  • No monthly payments required; forgiven after 10 years of homeownership.
  • Must be combined with a SONYMA mortgage product.

Graduate to Homeownership Program

The Graduate to Homeownership Program supports recent college graduates buying their first home.

  • Provides additional down payment assistance and reduced interest rates.
  • Available in select areas of New York State.
  • Eligibility includes recent graduation from an accredited college or university.

New York’s first-time homebuyer programs are designed to make homeownership more affordable and achievable. Explore these options to find the perfect fit for your needs and take the first step toward owning your dream home in the Empire State.