Eligible First-Time Homebuyers Can Receive up to $30,000
Suffolk County is currently accepting applications for the Down Payment Assistance Program, which provides eligible first-time homebuyers up to $30,000 on a purchase of a single-family residence under the condition that they live in the home for at least 10 years. Applications are being accepted through April 1.
“We are committed to making Suffolk County more affordable by offering young professionals and first-time buyers the assistance to achieve their dreams of homeownership,” said County Executive Ed Romaine. “By offering our residents further assistance and financial relief, we will be able to build a brighter future for our communities.”
The program, which was launched in 1993, provides eligible, first-time homebuyers with a conditional grant of up to $30,000 to use towards their down payment. Last year, the program assisted in six closings, totaling $162,000 in assistance. (A first-time homebuyer, as defined by the U.S. Department of Housing and Urban Development, is defined as a person who has not owned a home during the three-year period immediately prior to the purchase of a residence with HOME funding.
As part of the program, the buyer is responsible for the balance of the down payment and all the closing costs; they must have an adjusted gross household income within HUD guidelines, which are listed on the application, and must have a minimum of $3,000 of their own funds at the time of application in their savings, checking or investment accounts. All applicants are required to attend housing counseling at a HUD certified not-for-profit housing agency in person prior to submitting an application.
The property must be a single-family residence with no rental units and may be a pre-existing or newly constructed single-family residence, condominium, co-operative apartment (Co-op) or manufactured home. The maximum appraised value cannot exceed $551,000. In addition, applicants must not have entered a Contract of Sale to purchase a home prior to being awarded a Purchaser Certificate from the Suffolk County Community Development Office.
Residents are advised to visit SCDownpayment.com to download the application and guidelines, as well as the program’s Quick Reference Guide in English and Spanish.
For questions or additional information, please contact the Suffolk County Office of Community Development at 631-853-5705 or community.development@suffolkcountyny.gov.