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Get Matched Free →Homebuyer Programs in Mount Vernon, NY (2026)
Mount Vernon is a densely populated city in southern Westchester County, New York, bordering the Bronx just 15 miles from Midtown Manhattan. With a median home price around $447,000, it offers more affordable entry into the Westchester market compared to neighboring communities. Buyers have access to a strong lineup of assistance programs. The city's own HOME Homebuyer Assistance Program uses federal funds to provide down payment and closing cost help. At the county level, the Westchester County Home Ownership Initiative and the Hudson Valley Home Ownership and Revitalization Program each offer up to $25,000. State programs add significantly more: SONYMA DPAL provides up to $15,000, SONYMA DPAL PLUS up to $30,000, and the FHLBNY Homebuyer Dream Program grants up to $30,000. Nonprofit options include the CHI First Time Homebuyer Grant of $25,000 to $35,000, the WRO First Home Club with up to $5,000, and the HDSW First Home Club with up to $7,500. By combining programs, first-time buyers in Mount Vernon could access over $100,000 in total assistance.
Top Homebuyer Programs in Mount Vernon
| Program Name | Type | Amount | First-Time Only | Details |
|---|---|---|---|---|
| Mount Vernon HOME Homebuyer Assistance Program | Deferred Loan | Varies (down payment and closing cost assistance using federal HOME funds) | Yes | View → |
| Hudson Valley Home Ownership and Revitalization Program | Forgivable Loan | Up to $25,000 | Yes | View → |
| Westchester County Home Ownership Initiative | Forgivable Loan | Up to $25,000 | 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 → |
| CHI First Time Homebuyer Grant Program | Grant | $25,000 to $35,000 (49% max for down payment and closing costs; 51% minimum for home repairs) | Yes | View → |
| Habitat for Humanity NYC and Westchester Homeownership Program | Zero-Interest Loan | Affordable mortgage with reduced payments | Yes | View → |
| HDSW First Home Club | Grant | Up to $7,500 | Yes | View → |
| WRO First Home Club | Grant | Up to $5,000 | 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:
- Deferred Loan
- Amount:
- Varies (down payment and closing cost assistance using federal HOME funds)
- First-time only:
- Yes
- Type:
- Forgivable Loan
- Amount:
- Up to $25,000
- First-time only:
- Yes
- Type:
- Forgivable Loan
- Amount:
- Up to $25,000
- 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:
- Grant
- Amount:
- $25,000 to $35,000 (49% max for down payment and closing costs; 51% minimum for home repairs)
- First-time only:
- Yes
- Type:
- Zero-Interest Loan
- Amount:
- Affordable mortgage with reduced payments
- First-time only:
- Yes
- Type:
- Grant
- Amount:
- Up to $7,500
- First-time only:
- Yes
- Type:
- Grant
- Amount:
- Up to $5,000
- 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 programs require household income at or below 80% of the Area Median Income for Westchester County. Confirm you meet the first-time homebuyer requirement (no homeownership in the past 3 years) for the programs you plan to use.
- Step 2:
Complete homebuyer education. Contact Westchester Residential Opportunities (WRO) at (914) 428-4507 for HUD-approved homebuyer counseling and education. WRO is located at 470 Mamaroneck Avenue, Suite 410, White Plains, NY 10605. Human Development Services of Westchester (HDSW) also offers HUD-approved counseling in the area.
- Step 3:
Apply for the Mount Vernon HOME program. Contact the Mount Vernon Urban Renewal Agency, Department of Planning and Community Development, to inquire about the HOME Homebuyer Assistance Program for down payment and closing cost assistance.
- Step 4:
Explore county and nonprofit programs. Apply for the Westchester County Home Ownership Initiative ($25,000) and the Hudson Valley Home Ownership and Revitalization Program ($25,000). Ask WRO about the First Home Club matched savings program (up to $5,000) and contact Community Housing Innovations at 845-330-3948 ext. 3004 about their grant of $25,000 to $35,000.
- Step 5:
Get pre-approved for a mortgage. Work with a SONYMA-approved lender to access the DPAL (up to $15,000) or DPAL PLUS (up to $30,000). Ask your lender if they participate in the FHLBNY Homebuyer Dream Program for an additional grant of up to $30,000.
- Step 6:
Find a home within program limits. Search for properties in Mount Vernon that meet any applicable purchase price limits. The median home price of $447,000 falls within many program thresholds.
- Step 7:
Submit your applications and close. Work with your housing counselor and lender to coordinate multiple assistance sources. Allow extra time for processing.