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Get Matched Free →Homebuyer Programs in Freeport, NY (2026)
Freeport is a vibrant village in Nassau County on Long Island's South Shore, known for its waterfront dining district and proximity to Jones Beach. With a median home price around $635,000, buyers face a competitive market, but several strong assistance programs can help. The Nassau County HOME Down Payment Assistance Program offers up to $50,000 as a forgivable loan for first-time buyers, and the LIHP Community Stabilization Program provides up to $30,000 in forgivable assistance. Both the CDLI and CDCLI offer low-interest down payment loans up to $75,000 for Nassau County buyers. Combined with SONYMA state mortgage programs and FHLBNY grants up to $30,000, eligible Freeport buyers could stack well over $100,000 in total assistance toward their home purchase.
Top Homebuyer Programs in Freeport
| Program Name | Type | Amount | First-Time Only | Details |
|---|---|---|---|---|
| Nassau County HOME Down Payment Assistance Program | Forgivable Loan | Up to $50,000 | Yes | View → |
| FHA Loans | Government-Insured Mortgage | Up to FHA county loan limits ($541,287 floor to $1,249,125 ceiling for single-family in 2026) | No | View → |
| FHLBA Community Partners Product | Forgivable Loan | Up to $20,000 in home purchase assistance for down payment and closing costs | No | View → |
| FHLBA First Time Homebuyer Product | Forgivable Loan | Up to $17,500 in home purchase assistance for down payment and closing costs | Yes | View → |
| FHLBA Workforce Housing Plus+ | Forgivable Loan | Up to $15,000 in home purchase assistance for down payment and closing costs | No | View → |
| Good Neighbor Next Door (HUD) | Government Property Sale Program | 50% discount off the list price of HUD-owned homes | Yes | View → |
| Home Possible Mortgage (Freddie Mac) | Government-Guaranteed Mortgage | Up to conforming loan limits ($832,750 standard / $1,249,125 high-cost in 2026); 3% minimum down payment | No | View → |
| HomeReady Mortgage (Fannie Mae) | Government-Guaranteed Mortgage | Up to conforming loan limits ($832,750 standard / $1,249,125 high-cost in 2026); 3% minimum down payment | No | View → |
| HUD $100 Down Program | FHA-Financed HUD REO Purchase | Only $100 down payment required (vs. standard 3.5% FHA down payment). HUD may also pay up to 3% of buyer's closing costs. | No | View → |
| USDA Rural Development Loans | Government-Guaranteed Mortgage | 100% financing (no down payment required); loan amount up to appraised value | No | View → |
| VA Loans | Government-Guaranteed Mortgage | No loan limit for veterans with full entitlement (0% down at any price); partial entitlement subject to conforming limits ($832,750 standard in 2026) | No | View → |
| CDCLI Down Payment and Closing Cost Assistance Loan | Repayable Loan | Up to $75,000 | Yes | View → |
| CDLI Down Payment and Closing Cost Assistance Loan | Repayable Loan | Up to $75,000 | Yes | View → |
| Habitat for Humanity of Long Island Homeownership Program | Zero-Interest Loan | Affordable home purchase with subsidized mortgage | Yes | View → |
| LIHP Community Stabilization Program (CSP) | Forgivable Loan | Up to $30,000 | Yes | View → |
| FHLBNY Homebuyer Dream Program | Grant | Up to $30,000 | Yes | View → |
| SONYMA Down Payment Assistance Loan (DPAL) | Forgivable Loan | Up to $15,000 or 3% of purchase price, whichever is greater (minimum $1,000) | Yes | View → |
| SONYMA DPAL PLUS | Forgivable Loan | Up to $30,000 | Yes | View → |
- Type:
- Forgivable Loan
- Amount:
- Up to $50,000
- First-time only:
- Yes
- Type:
- Government-Insured Mortgage
- Amount:
- Up to FHA county loan limits ($541,287 floor to $1,249,125 ceiling for single-family in 2026)
- First-time only:
- No
- Type:
- Forgivable Loan
- Amount:
- Up to $20,000 in home purchase assistance for down payment and closing costs
- First-time only:
- No
- Type:
- Forgivable Loan
- Amount:
- Up to $17,500 in home purchase assistance for down payment and closing costs
- First-time only:
- Yes
- Type:
- Forgivable Loan
- Amount:
- Up to $15,000 in home purchase assistance for down payment and closing costs
- First-time only:
- No
- Type:
- Government Property Sale Program
- Amount:
- 50% discount off the list price of HUD-owned homes
- First-time only:
- Yes
- Type:
- Government-Guaranteed Mortgage
- Amount:
- Up to conforming loan limits ($832,750 standard / $1,249,125 high-cost in 2026); 3% minimum down payment
- First-time only:
- No
- Type:
- Government-Guaranteed Mortgage
- Amount:
- Up to conforming loan limits ($832,750 standard / $1,249,125 high-cost in 2026); 3% minimum down payment
- First-time only:
- No
- Type:
- FHA-Financed HUD REO Purchase
- Amount:
- Only $100 down payment required (vs. standard 3.5% FHA down payment). HUD may also pay up to 3% of buyer's closing costs.
- First-time only:
- No
- Type:
- Government-Guaranteed Mortgage
- Amount:
- 100% financing (no down payment required); loan amount up to appraised value
- First-time only:
- No
- Type:
- Government-Guaranteed Mortgage
- Amount:
- No loan limit for veterans with full entitlement (0% down at any price); partial entitlement subject to conforming limits ($832,750 standard in 2026)
- First-time only:
- No
- Type:
- Repayable Loan
- Amount:
- Up to $75,000
- First-time only:
- Yes
- Type:
- Repayable Loan
- Amount:
- Up to $75,000
- First-time only:
- Yes
- Type:
- Zero-Interest Loan
- Amount:
- Affordable home purchase with subsidized mortgage
- First-time only:
- Yes
- Type:
- Forgivable Loan
- Amount:
- Up to $30,000
- First-time only:
- Yes
- Type:
- Grant
- Amount:
- Up to $30,000
- First-time only:
- Yes
- Type:
- Forgivable Loan
- Amount:
- Up to $15,000 or 3% of purchase price, whichever is greater (minimum $1,000)
- First-time only:
- Yes
- Type:
- Forgivable Loan
- Amount:
- Up to $30,000
- First-time only:
- Yes
How to Apply
- Step 1:
Check your eligibility. Most Nassau County programs require household income at or below 80% of Area Median Income, though CDLI and CDCLI programs extend to 120% AMI. Review current HUD income limits for Nassau County based on your household size.
- Step 2:
Complete homebuyer education. Contact the Long Island Housing Partnership (LIHP) at (631) 435-4710 for HUD-approved mortgage counseling, which is required for the Nassau County HOME program. CDLI and CDCLI also offer NeighborWorks homebuyer education courses.
- Step 3:
Get pre-approved for a mortgage. Work with a SONYMA-approved lender or contact a local credit union like Nassau Financial Federal Credit Union about the FHLBNY Homebuyer Dream Program, which offers grants up to $30,000 for first-time buyers.
- Step 4:
Apply for the Nassau County HOME Down Payment Assistance Program. Through LIHP, apply for up to $50,000 in forgivable loan assistance. You must put a minimum of $5,000 toward the down payment from personal funds. Applications are available at www.lihp.org.
- Step 5:
Explore additional assistance. Apply to the LIHP Community Stabilization Program (up to $30,000) and contact CDCLI or CDLI about their low-interest down payment loans up to $75,000. Multiple programs can often be combined.
- Step 6:
Find a home in Freeport within program guidelines. Work with your real estate agent to identify eligible properties. The Nassau County program requires purchase of an owner-occupied single-family home within the county.
- Step 7:
Close on your new home. Your housing counselor and lender will coordinate the closing process, ensuring all assistance funds are applied correctly to your purchase.