If you have been dreaming of owning your first home in New York City but felt like it was out of reach, here is some good news. The HomeFirst Down Payment Assistance Program is offering up to $100,000 to help eligible New Yorkers finally step into homeownership.
Launched in 2004, the HomeFirst program has already helped over 1,100 families buy homes across the city. But in 2025, the program is getting a major expansion, and that means thousands more New Yorkers—possibly including you—could benefit from this life-changing opportunity.
How can you qualify for the $100,000 HomeFirst payment in 2025?
Now you are probably asking: “Can I get this $100,000?” Well, here is what you need to know.
To qualify for the HomeFirst program in 2025, you need to meet just a few key requirements:
- Be a first-time homebuyer (you have never owned a home before)
- Have a household income at or below 80% of the Area Median Income (AMI)
- Be able to qualify for a mortgage
- Contribute some of your own savings toward the purchase
- Complete a free homebuyer education course from an approved counseling agency
Once you complete the homebuyer education course, you can receive a certificate of eligibility to use the assistance toward purchasing a home anywhere in NYC.
What types of homes can you buy with HomeFirst assistance?
You might be wondering if the program only covers certain kinds of properties. Actually, it is pretty flexible.
With the HomeFirst assistance, you can buy:
- A single-family home
- A co-op apartment
- A condominium
- A 1-4 unit building, as long as you live in one of the units
The property must be located within the five boroughs—Manhattan, Brooklyn, Queens, The Bronx, or Staten Island—and must become your primary residence.
This is not just about buying a place to live—it is about building wealth for your future, and the city is trying to make that easier for you.
Why Is NYC offering this homebuyer assistance now?
The HomeFirst expansion comes at a time when owning a home in New York feels impossible for many working fhmilies. The city recognizes that housing inequality and racial gaps in homeownership are real issues.
According to a report by 6sqft, the homeownership rate for Black and Hispanic New Yorkers is significantly lower than that of White residents. Programs like HomeFirst aim to close that gap and give more people a fair shot at building generational wealth through homeownership.
In fact, Mayor Eric Adams highlighted the importance of this initiative, saying, “Expanding the HomeFirst program means more New Yorkers can finally put down roots and build a future in the city they love.”
How do you apply for HomeFirst assistance in 2025?
Ready to get started? The first step is to enroll in a homebuyer education class with an agency approved by the NYC Department of Housing Preservation and Development (HPD). Once you finish the course and meet the program criteria, you will receive a certificate that allows you to access the down payment funds.
You can find a list of these agencies and more details about the program on the official NYC Housing Connect website or by contacting HPD directly.
So if you have been holding off on buying a home because of the down payment, this could be your chance to finally make that dream come true.
Learn more from the video below:
