How to Get Down Payment Assistance for Buying a House on Long Island

Down Payment Assistance: How to Get Help Buying a House on Long Island

Buying a house can be stressful and difficult to save all your downpayment and closing costs.💰💰 I share the types of down payment assistance and the general requirements. Learn what I’ve discovered throughout the years of helping my clients with selling or buying a house to net or save them the most money quickly.

First-Time Homebuyers through State/local programs
Most State/many counties offer grants& no interest loans to help first-time homebuyers pay for downpayment and closing costs
Aimed at affordable housing needs
Grants
0% interest forgivable loan(5-10 years)
0% interest deferred payment-sold, refinance or the end of mortgage term
Low interest loans repaid over a period of time (spread out through a period of time)

First-Time Homebuyers: who haven’t owned in the past 3 years of applying for a program

Requirements:
Take home buying education course
Income limits: low to moderate income residents-below a certain threshold
Approved for a loan
Stay below maximum home purchase price. Percentage of an area’s median price
Contribute some of your money.


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⚜️Long Island Housing Program https://www.lihp.org/downpayment.html

⚜️Nassau County Guidelines https://www.lihp.org/Content/NCDPAP_P...

⚜️Community Development Corporation of Long Island http://www.cdcli.org/programs/payment...

⚜️Town of Babylon Requirements https://www.townofbabylon.com/faq.asp...

⚜️Town of Brookhaven https://www.brookhavenny.gov/376/Down...


⚜️In this video, I give different types of down payment assistance and the general requirements for these programs. Want to receive a FREE thorough list of down payment assistance programs on Long Island?, check out my website 👉🏾👉🏾https://www.nicoleburkehomes.com/cont...

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