SONYMA Down Payment Assistance Loan (DPAL)
Open · Forgivable loan
The greater of $3,000 or 3% of the purchase price, up to $15,000
A 0% second loan with no monthly payments, available with any SONYMA mortgage. It can’t exceed your actual down payment and closing costs. The amount you might repay if you sell or refinance drops by 1/120 each month, so it’s fully forgiven after 10 years. SONYMA first mortgages with a DPAL carry a rate about 0.40% higher than those without.
Who qualifies: Buyers using a SONYMA mortgage (Achieving the Dream or Low Interest Rate), which generally requires first-time buyer status, income and price limits, and a minimum cash contribution.
State of New York Mortgage Agency · Agency website → · Checked 2026-09-30
SONYMA DPAL Plus
Closed for now · Forgivable loan
Up to $30,000 when offered
An enhanced SONYMA down payment loan for low-income buyers that brings the first mortgage down to 80% of the price, forgiven over 10 years. It has been offered in limited, targeted rounds; the most recent (East Buffalo) ran out of funds on January 30, 2025. Buyers can use the standard DPAL meanwhile.
Who qualifies: Low-income buyers (typically up to 60% of area median income) using a SONYMA mortgage, in the areas where a round is offered.
State of New York Mortgage Agency · Agency website → · Checked 2026-09-30
FHLBNY Homebuyer Dream Program
Funding rounds · Grant
Grant up to $30,000 (up to $60,000 when combined with HDP Wealth Builder)
A grant toward down payment, closing costs and homebuyer counseling, offered through participating FHLBNY member banks and credit unions. The 2026 round opened February 9, 2026 and runs until November 27, 2026 or until funds run out. You must live in the home for 5 years or repay a prorated share.
Who qualifies: First-time homebuyers; HDP is for households at or below 80% of area median income and HDP Plus for households above 80%; homeownership counseling; at least $1,000 of your own money; apply through a participating member lender.
Federal Home Loan Bank of New York (through member lenders) · Agency website → · Checked 2026-09-30