Most first-time buyers on Staten Island have no idea they could qualify for up to $100,000 in down payment assistance from New York City alone. Add in state-level programs, and you could be looking at a combined package that dramatically reduces what you need to bring to the closing table.

I’ve helped clients in Great Kills, Annadale, and St. George take advantage of these programs to buy their first homes — sometimes with less than $15,000 out of pocket on a $600,000+ purchase. Here’s exactly how it works in 2026.

The Big One: NYC HomeFirst Down Payment Assistance

The HomeFirst Down Payment Assistance Program, administered by NYC’s Department of Housing Preservation and Development (HPD), is the largest grant available to first-time buyers in the city. Here’s what you need to know:

How much: Up to $100,000 toward your down payment or closing costs on a 1–4 family home, condo, or co-op in any of the five boroughs — including Staten Island.

Who qualifies: You must be a first-time homebuyer (meaning you haven’t owned a home in the past three years), and your household income must be at or below 80% of the Area Median Income for NYC. You also need to contribute at least 3% of the purchase price from your own funds.

The catch: HomeFirst is structured as a forgivable loan. If you stay in the home for 15 years, the loan is completely forgiven. Sell or refinance before that window closes, and you’ll need to repay the full amount.

How to apply: You must complete a homebuyer education course through an HPD-approved counseling agency. On Staten Island, two local agencies handle this directly: Northfield Community Local Development Corporation on Heberton Avenue and Neighborhood Housing Services of Staten Island on Corson Avenue.

With the First-Time Buyer Grant Calculator on my website, you can plug in your income, household size, and target purchase price to see exactly how much you’d qualify for — in about 30 seconds.

SONYMA Achieving the Dream: The State-Level Boost

New York State’s SONYMA Achieving the Dream program is designed to work alongside city grants like HomeFirst. It offers a 30-year fixed-rate mortgage with below-market interest rates and a down payment requirement as low as 3%, with only 1% needing to come from the buyer directly.

This is significant because it means your HomeFirst grant can cover most or all of the remaining down payment — and SONYMA’s low rate stretches your monthly budget further. First-time buyers purchasing in Staten Island neighborhoods like Annadale, Great Kills, and Eltingville have used this combination to lock in payments well below what they were paying in rent.

Why This Matters on Staten Island Right Now

Staten Island’s housing market remains competitive heading into spring 2026. The median home sale price reached approximately $740,000 in early 2026, with just 2.7 months of supply keeping conditions tilted firmly in favor of sellers. Homes are spending an average of 78 days on market — and well-priced properties in neighborhoods like Todt Hill and Grymes Hill are moving faster than that.

For a first-time buyer, $100,000 in down payment assistance on a $740,000 home means you’re effectively covering a 13.5% down payment through the grant alone. Combine that with your 3% personal contribution, and you’re looking at 16.5% down — enough to get a competitive offer accepted and potentially avoid PMI entirely.

Use the Home Affordability Calculator to see what monthly payment you’d be looking at with these programs factored in, or run the numbers on NYC closing costs to understand the full picture.

Stacking Programs: How to Maximize Your Benefits

The real power move is stacking multiple programs together. Here’s a realistic scenario for a Staten Island first-time buyer in 2026:

Purchase price: $650,000 two-family home in Annadale
HomeFirst grant: $100,000 toward down payment
SONYMA mortgage: 30-year fixed at below-market rate, 3% down required
Buyer’s personal funds: $19,500 (3% of purchase price)
Total down payment: $119,500 — that’s over 18% down on a two-family home, with only $19,500 out of pocket.

And here’s the kicker: if you’re buying a two-family, the rental income from the second unit could cover a significant portion of your mortgage payment. Run the numbers on the ADU Income Calculator to see what kind of rental income your property could generate.

The Step-by-Step Process

Step 1: Check your eligibility. Use the First-Time Buyer Grant Calculator to confirm your income qualifies and estimate your grant amount.

Step 2: Complete homebuyer education. Enroll with an HPD-approved counseling agency on Staten Island. This course is mandatory for HomeFirst and covers budgeting, the buying process, and maintaining your home.

Step 3: Get pre-approved. Work with a lender experienced in SONYMA and HomeFirst. Not every lender participates in these programs, so this step matters.

Step 4: Find your home. This is where having a Staten Island agent who understands these programs is critical. Some sellers and listing agents aren’t familiar with HomeFirst transactions, and an experienced buyer’s agent can navigate the process smoothly.

Step 5: Close and move in. The grant funds are applied at closing. You move into your new home with significantly less cash out of pocket than you thought possible.

If you’re considering the rent vs. buy decision, these programs shift the math dramatically in favor of buying — especially on Staten Island where rents have climbed steadily while grant amounts have increased.

Common Questions About NYC First-Time Buyer Grants

Can I use HomeFirst on a co-op or condo? Yes. The program covers 1–4 family homes, condos, and co-ops in all five NYC boroughs.

What if I’ve owned a home before? You may still qualify if you haven’t owned property in the past three years. Veterans are also eligible even if they’ve previously owned a home.

Do I have to pay it back? Only if you sell or refinance within the forgiveness period (15 years for city-funded loans). Stay in your home, and the entire amount is forgiven.