There are more than 50 programs from 30 agencies in the state of New York that work every day to help buyers achieve the dream of homeownership. The average down payment assistance (DPA) buyers receive through these programs is $20,000, though some programs offer assistance of $100,000 or more with income limits up to $172,000.
Nearly eight in 10 listings on OneKeyMLS.com are eligible for Down Payment Assistance, and every eligible listing automatically bears the DPR icon so it’s instantly recognizable. DPA can be used for single family homes, multi-family, and condominiums.
The DPR program is market-adjusted for New York. The purchase price limit for a single family home is $806,000 in 2024. All your buyers have to do is live in the property as their primary residence. There are also programs for first-time buyers who want to invest in a multi-family property and live in one of the units while renting the others.
DPR programs do require a minimal investment from the buyer upfront of $500-$1,000 to purchase a property. But enabling first-time and repeat buyers to gain equity and pass down generational wealth is priceless.
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