A new initiative to offer eligible, first-time, low- and moderate-income homebuyers down payment assistance in purchasing an owner-occupied, single family residence.
If you are a first-time home buyer seeking to purchase a home within the City of New Rochelle, you may be eligible for the City’s new First-Time Home Buyer’s Down Payment Assistance Program. The program will provide eligible and approved applicants up to 19% of the purchase price of a single-family home depending on the qualification of the homebuyer and is towards the down payment on a new home. The program is funded through a combination of local and federal dollars through the United States Department of Housing and Urban Development’s HOME program and the City’s Affordable Housing Fund.
Check here to see if you are eligible for the Down Payment Assistance Program
- Be a New Rochelle Resident
- Be a First-Time Homebuyer (or have not owned
a home during the 3-year period immediately prior)
- Contribute, from own funds, at least 1% of the
purchase price towards the down payment.
- Have a documented minimum annual household
income of at least $40,000
- Have sufficient financial resources and credit to
qualify for a mortgage.
- Have a pre-approval for a Mortgage Loan
See all other additional requirements in the Eligibility Criteria and Fact Sheet documents below.
Apply to the 2022 First-Time Home Buyer Down Payment Assistance Program.
Instructions:
1. Download the Application below and fill out
2. Collect all documents required to support the application
3. Mail or drop the application together with documents at:
City of New Rochelle
Department of Development
City Hall, 515 North Avenue, 1st Floor
New Rochelle NY 10801
Real Estate Industry Professionals
Date: April 26th, 2022
Time: 3:00 – 5:00 PM
Place: New Rochelle City Hall – City Council Chambers
Address: 515 North Ave, New Rochelle, NY 10801
General Public
Date: May 11th, 2022
Time: 6:00 – 8:00 PM
Place: New Rochelle Public Library – Ossie Davis Theater
Address: 1 Library Plaza, New Rochelle, NY 10801
Please submit your questions about the program and application process via the following form:
Interested in learning more about new developments within New Rochelle? Then checkout our interactive development map for more details of our ever-evolving skyline.
Explore More