Most first-time buyers on Staten Island think they need 20% down to purchase a home. That means on a $600,000 property — the median in many Staten Island neighborhoods — you’d need $120,000 in cash just for the down payment. That number alone stops people from even starting the process.

But here’s what most buyers don’t realize: New York City has some of the most generous first-time buyer grant programs in the entire country. I’m talking about real money — up to $100,000 in forgivable grants — that you never have to pay back as long as you stay in your home.

Last year, I helped a young couple from Great Kills stack multiple NYC grant programs together to cover nearly their entire down payment on a three-bedroom colonial. They went from thinking homeownership was five years away to getting the keys in four months. Let me walk you through exactly how these programs work and how you can take advantage of them right now.

The NYC HomeFirst Down Payment Assistance Program: Up to $100,000

The biggest program every Staten Island buyer needs to know about is HomeFirst, administered by the NYC Department of Housing Preservation and Development (HPD). This program provides qualified first-time buyers with up to $100,000 toward down payment and closing costs on a one-to-four-unit home, condo, or co-op anywhere in the five boroughs — including every neighborhood on Staten Island.

Here’s the best part: HomeFirst is structured as a forgivable second mortgage. If you stay in your home for 10 to 15 years (depending on the loan amount), the entire grant is forgiven. You don’t pay a dime back. For buyers planning to put down roots in neighborhoods like Annadale, Todt Hill, or St. George, this is an incredible opportunity.

To qualify, you’ll need to complete a homebuyer education course through an HPD-approved counseling agency. On Staten Island, the designated agency is the Northfield Community LDC in Port Richmond. The course covers financial management, the buying process, and grant requirements — and it’s your ticket to accessing these funds.

SONYMA Programs: Low-Interest Mortgages + Down Payment Assistance

The State of New York Mortgage Agency (SONYMA) offers two programs that pair perfectly with HomeFirst and are ideal for Staten Island and Brooklyn buyers.

The Achieving the Dream Program provides a 30-year fixed-rate mortgage requiring just 3% down. Your minimum out-of-pocket cash contribution is only 1% — the rest can come from gift funds or down payment assistance grants. For a $500,000 home, that means you could potentially close with as little as $5,000 of your own money.

Then there’s the Down Payment Assistance Loan (DPAL), which you can layer on top of any SONYMA mortgage. This is a 0% interest loan specifically designed to help cover your down payment, closing costs, and mortgage insurance. When you combine SONYMA’s DPAL with the HomeFirst grant, you’re looking at a powerful stack that dramatically reduces what you need at the closing table.

Want to see exactly how these numbers work for your situation? Try our NYC First-Time Buyer Grant Calculator — it breaks down exactly how much grant money you could qualify for based on your income, household size, and target purchase price.

The Homebuyer Dream Program: Another $30,000–$60,000 in Grants

The Federal Home Loan Bank of New York runs the Homebuyer Dream Program (HDP), which allocated $31.67 million for 2026 funding rounds. This program provides up to $30,000 per household for down payment, closing costs, and homebuyer counseling assistance.

Even better, the HDP Wealth Builder add-on can be layered with the base HDP grant to provide up to $60,000 in total grant funding per eligible household. To qualify, your household income needs to be at or below 80% of the Area Median Income. For the New York metro area in 2026, that threshold is higher than you might expect — many working families on Staten Island and in Brooklyn qualify.

The key is working with a participating lender who is a member of the FHLBNY. Not every lender participates, which is why working with an agent who knows the grant landscape — like our team — matters.

How to Stack These Programs Together

Here’s where the real magic happens. Many of these programs are designed to be combined. A qualified buyer on Staten Island could potentially access:

HomeFirst: Up to $100,000 (forgivable)
SONYMA DPAL: Additional down payment and closing cost coverage at 0% interest
HDP + Wealth Builder: Up to $60,000 in grants
FHA financing: Just 3.5% down with credit scores as low as 580

That’s potentially over $160,000 in combined assistance. On a $550,000 home in Eltingville or Arden Heights, that could cover your entire down payment and most of your closing costs.

Use our Home Affordability Calculator to see what purchase price fits your budget, then run the numbers through the Grant Calculator to see how much assistance you could receive.

Who Qualifies as a First-Time Buyer in NYC?

You might be surprised by the definition. In New York, a “first-time buyer” is anyone who hasn’t owned a primary residence in the past three years. That means if you sold a home four years ago, or if you’ve only ever rented, you qualify. Even if your spouse owned a home before your marriage, you may still be eligible depending on the specific program.

Veterans and active-duty military have additional options through VA home loans, which require zero down payment and can be combined with certain grant programs for even greater savings.

Why Working With a Local Expert Matters

These grant programs have specific application windows, income limits, and paperwork requirements. The HomeFirst program alone requires completing a certified homebuyer education course before you can even apply. The HDP grants are distributed through participating lenders on a first-come, first-served basis — when the 2026 funding round opened in February, money moved fast.

As a Staten Island and Brooklyn real estate specialist, I help my clients navigate every step of this process. From identifying which programs you qualify for, to connecting you with HPD-approved counselors and participating lenders, to timing your purchase to align with grant funding rounds — this is what we do every day at Bridge and Boro Real Estate.

If you’re thinking about buying your first home on Staten Island or in Brooklyn, don’t let the down payment hold you back. The money is there — you just need to know how to access it.