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What is it?
The New York City Department of Housing Preservation and Development,
in partnership with Neighborhood Housing Services of New York City,
recently created HomeFirst to provide qualified homebuyers with down
payment or closing cost assistance.
What do you get?
If you meet eligibility criteria, you will receive a grant
worth the greater of 6% of a home’s purchase price or $10,000 to put
towards the down payment or closing cost of a one to four unit family home,
condominium, or cooperative in New York City. In other words, the minimum
amount you could receive if you qualify is $10,000.
How long do you get it
This is a one-time payment, but you must remain in your home for at least
ten years to continue to qualify.
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