New York First Time Home Buyer Grants and Loan Programs

New York first time home buyer grants and loan programs - New York State offers a program through The New York State Affordable Housing Corporation (AHC). The program administers the Affordable Home Ownership Development Program (AHOD Program) which provides grants to governmental, not-for-profit and charitable groups to build, acquire/rehabilitate or improve homes for low and moderate income families. You cannot apply for a grant to the AHC directly, instead you need to contact an agency in the county you live in to apply for the program.

Check out the New York AHC grantee list by region which shows which agencies offer the AHC program in your community.

The State of New York Mortgage Agency (SONYMA) offers four mortgage programs to assist first time home buyers with the purchase of a home in New York. Each program features a below-market interest rate, low downpayment requirements, no prepayment penalties and offers closing cost assistance. Each of these features are designed to make a home purchase more affordable. SONYMA loans are financed through the sale of tax exempt bonds.

To learn more about the SONYMA home loan programs available, go to the SONYMA site for more details on the programs available.

New Program for Lewis County Residents

Lewis County, NY has been awarded $200,000 to help first time home buyers purchase their first homes.

The program includes newly-offered funding, which will come through a Community Development Block Grant applied for by the county, will allow Snow Belt to extend the program and help many more income-eligible families purchase existing single-family homes in Lewis County. Funding will include resources available to use toward a downpayment.

To learn more, review this article or for details.

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