New York City and New York State offer some of the most generous first-time home buyer grant programs in the country — yet most buyers on Staten Island have never heard of them. This page explains every major program available in 2026, how much you can receive, who qualifies, and how to apply. Then use the First-Time Buyer Grant Calculator below to see exactly what you may qualify for based on your income and household size.
How Much Can You Get? The Big Picture
In 2026, a qualifying first-time buyer purchasing a home on Staten Island can potentially stack multiple programs to receive:
- Up to $100,000 from NYC’s HomeFirst Down Payment Assistance Program
- Up to $30,000 from the Federal Home Loan Bank of New York’s Homebuyer Dream Program (HDP)
- Additional assistance from SONYMA’s Down Payment Assistance Loan (DPAL)
- Below-market mortgage rates through SONYMA’s Achieving the Dream program
Combined, qualifying buyers can reduce their out-of-pocket entry cost by $100,000 or more — turning a $740,000 Staten Island home from financially out of reach into genuinely attainable.
→ Use the Grant Calculator to see your eligibility now →
Program 1: NYC HomeFirst Down Payment Assistance — Up to $100,000
The HomeFirst Down Payment Assistance Program, administered by the NYC Department of Housing Preservation and Development (HPD), is the largest single grant available to first-time buyers in New York City.
What It Offers
Up to $100,000 toward the down payment and closing costs on a 1–4 family home, condo, or cooperative in any of the five boroughs, including Staten Island. The assistance is structured as a forgivable second mortgage — meaning if you stay in the home for 10 years (15 years for loans over $40,000), the balance is forgiven entirely. You pay nothing back if you don’t sell or refinance before that threshold.
Who Qualifies for HomeFirst
- First-time buyer (no ownership interest in any property in the last 3 years)
- Household income at or below 80% of Area Median Income (AMI)
- Purchase price within HomeFirst program limits (typically $845,000 for a 1-family home)
- Completion of a HPD-approved homebuyer education course
- Must be the primary residence — no investment properties
- U.S. citizen, permanent resident, or eligible non-citizen
2026 Income Limits (80% AMI for NYC)
- 1-person household: up to $87,360
- 2-person household: up to $99,840
- 3-person household: up to $112,320
- 4-person household: up to $124,800
- 5-person household: up to $134,800
Many Staten Island families fall within these thresholds — especially first-time buyers early in their careers or single-income households.
Program 2: Homebuyer Dream Program (HDP) — Up to $30,000
The Homebuyer Dream Program, offered through the Federal Home Loan Bank of New York (FHLBNY), provides grants of up to $30,000 for down payment and closing costs — available to households earning up to 80% of AMI. Unlike HomeFirst, HDP funds flow through participating member banks and credit unions; you must apply through a FHLBNY member lender.
In 2026, FHLBNY allocated $31.67 million to the HDP — the largest single-year allocation in the program’s history. Demand is high and funds are distributed on a first-come, first-served basis through 110 participating member institutions. This is a program where moving quickly matters.
Key HDP Requirements
- First-time buyer (no ownership in past 3 years)
- Household income at or below 80% AMI
- HUD-approved homebuyer counseling required
- Must use a FHLBNY member bank as your lender
- Property must be primary residence
Program 3: SONYMA Achieving the Dream — Below-Market Rates + Down Payment Help
The State of New York Mortgage Agency (SONYMA) operates two programs particularly valuable for Staten Island first-time buyers:
Achieving the Dream Mortgage
SONYMA’s flagship first-time buyer mortgage offers a fixed rate typically 0.375%–0.75% below conventional market rates — which on a $600,000 loan translates to $100–$200+ in monthly savings and tens of thousands of dollars over the life of the loan. Income limits apply (generally 80% AMI for standard programs, 97% AMI in targeted areas).
Down Payment Assistance Loan (DPAL)
SONYMA’s DPAL provides up to $15,000 toward down payment — structured as a 0% interest second mortgage forgiven after 10 years if the home remains your primary residence. It must be used in conjunction with a SONYMA first mortgage.
Stacking the Programs: A Real-World Example
Here’s how a qualifying Staten Island buyer in 2026 might combine these programs:
- Purchase price: $650,000 (3-bedroom in Eltingville)
- Standard 20% down payment needed: $130,000
- HomeFirst grant applied: −$100,000
- HDP grant applied: −$30,000
- Remaining out-of-pocket down payment: $0
- Closing costs still apply (~$15,000–$25,000), which the grants may also partially cover
This is not theoretical. This is the calculation Joseph walks first-time buyers through in every initial consultation. The grants exist, the funds are available in 2026, and most qualifying buyers never apply simply because they don’t know about the programs.
→ Run your personal grant eligibility calculation now →
Staten Island Neighborhoods Where First-Time Buyers Are Winning in 2026
With grant assistance in hand, these neighborhoods offer the best entry points for first-time buyers in 2026:
- Eltingville and Annadale — Solid 3-bedroom homes in the $550,000–$680,000 range; strong school districts; ferry-accessible via express bus
- Great Kills — Waterfront character, tight community feel, homes in the $580,000–$750,000 range; see the full neighborhood guide
- New Dorp and Midland Beach — Diverse housing stock including smaller starter homes in the $450,000–$580,000 range
- Bay Ridge, Brooklyn — For buyers who want Brooklyn but at relatively lower prices; see the Bay Ridge guide
Use the NYC Closing Cost Calculator to understand the full transaction costs once you’ve identified your target price range.
How Joseph Helps First-Time Buyers Navigate the Grant Process
Applying for HomeFirst, HDP, and SONYMA simultaneously while also qualifying for a mortgage and finding a home in a low-inventory market is genuinely complex. Joseph coordinates all of these moving parts for his first-time buyer clients:
- Identifying which programs you qualify for based on income, household size, and purchase price target
- Connecting you with HDP-participating lenders and SONYMA-approved mortgage officers
- Scheduling HPD homebuyer education completion (required for HomeFirst)
- Structuring your offer to reflect grant contingencies without weakening your negotiating position
- Timeline management — grant funds have expiration windows, and coordination between grant disbursement and closing is critical
📞 (347) 446-2573 | 📧 [email protected] | 📅 Book a free first-time buyer consultation →
First-Time Buyer Grant FAQ — Staten Island
Can I use these grants on Staten Island?
Yes. HomeFirst is available in all five boroughs including Staten Island. HDP and SONYMA programs are statewide. All three programs can be used to purchase a home anywhere on Staten Island.
Do I have to pay the grants back?
HomeFirst and SONYMA DPAL are forgivable second mortgages — they are forgiven entirely if you stay in the home as your primary residence for the required period (10–15 years depending on the loan amount). If you sell or refinance before that period, you repay the remaining balance. HDP grants are fully forgiven after 5 years.
What counts as “first-time buyer” for these programs?
All three programs define “first-time buyer” as someone who has not owned any residential property in the past 3 years. This means if you previously owned a home but sold it (or it was foreclosed) more than 3 years ago, you may still qualify as a first-time buyer for grant purposes.
Can I combine HomeFirst and HDP?
Yes. HomeFirst and HDP can be stacked — this is how buyers reach the $100,000+ in total assistance that makes $0-down or minimal-cash-down purchases possible on Staten Island. The key is working with a lender who participates in both programs and an agent who has coordinated both grant tracks before.
How long does it take to receive the grants?
Grant processing timelines vary. HomeFirst applications typically take 2–4 weeks to process, and the funds are disbursed at closing. HDP funds are committed at the time of loan application through your member lender. Build in 60–90 days from application to closing when planning your timeline.
