See programs you qualify for
Get Matched Free →By Tyler Thompson · Licensed Real Estate Agent · Updated April 2, 2026
Homebuyer Programs in Smithtown, NY (2026)
Smithtown is a hamlet and census-designated place in Suffolk County on Long Island's North Shore, known for its excellent schools, suburban character, and convenient access to New York City. With a median home price around $775,000, buying here is a significant investment, but several assistance programs can help. The Suffolk County HOME Down Payment Assistance Program offers up to $30,000 as a zero-interest forgivable loan, and Community Development Long Island (CDLI) provides low-interest loans up to $75,000 for down payment and closing costs. At the state level, SONYMA offers down payment assistance loans up to $15,000 (or $30,000 in targeted areas), and the FHLBNY Homebuyer Dream Program provides grants up to $30,000 through participating lenders. By combining county, nonprofit, and state programs, Smithtown buyers can potentially stack over $100,000 in assistance toward their home purchase.
County Programs in Suffolk County
| Program Name | Type | Amount | First-Time Only | Details |
|---|---|---|---|---|
| Suffolk County HOME Down Payment Assistance Program | Deferred Loan | Up to $30,000 | Yes | View → |
- Type:
- Deferred Loan
- Amount:
- Up to $30,000
- First-time only:
- Yes
State Programs in New York
| Program Name | Type | Amount | First-Time Only | Details |
|---|---|---|---|---|
| FHLBNY Homebuyer Dream Program | Grant | Up to $30,000 | Yes | View → |
| SONYMA Down Payment Assistance Loan (DPAL) | Forgivable Loan | Greater of $3,000 or 3% of the purchase price, capped at $15,000 (minimum $1,000); cannot exceed actual down payment and closing costs | Yes | View → |
| SONYMA DPAL PLUS | Forgivable Loan | Up to $30,000 | Yes | View → |
- Type:
- Grant
- Amount:
- Up to $30,000
- First-time only:
- Yes
- Type:
- Forgivable Loan
- Amount:
- Greater of $3,000 or 3% of the purchase price, capped at $15,000 (minimum $1,000); cannot exceed actual down payment and closing costs
- First-time only:
- Yes
- Type:
- Forgivable Loan
- Amount:
- Up to $30,000
- First-time only:
- Yes
Federal Programs
| Program Name | Type | Amount | First-Time Only | Details |
|---|---|---|---|---|
| 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 → |
| 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 → |
- 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:
- 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
Nonprofit Programs
| Program Name | Type | Amount | First-Time Only | Details |
|---|---|---|---|---|
| CDLI Down Payment and Closing Cost Assistance Loan | Repayable Loan | Up to $75,000 | Yes | 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 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 → |
- Type:
- Repayable Loan
- Amount:
- Up to $75,000
- First-time only:
- Yes
- 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 home purchase with subsidized mortgage
- 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% to 130% of the Area Median Income depending on the program. The Suffolk County HOME DPA Program requires income at or below 80% AMI, while the CDLI loan allows up to 120% AMI.
Step 2: Complete homebuyer education. Contact the Long Island Housing Partnership (LIHP) at (631) 435-4710 for free mortgage counseling and HUD-certified homebuyer education courses. CDLI also offers a required NeighborWorks homebuyer education program.
Step 3: Contact the Suffolk County Office of Community Development at (631) 853-5705 or email ecodev@suffolkcountyny.gov to apply for the Suffolk County HOME Down Payment Assistance Program. You will need at least $3,000 in the bank at the time of application.
Step 4: Reach out to Community Development Long Island (CDLI) at (631) 471-1215 to explore their down payment and closing cost assistance loan of up to $75,000.
Step 5: Get pre-approved for a mortgage through a SONYMA-approved lender or an FHLBNY-participating bank or credit union such as Suffolk Credit Union. Ask your lender about layering the Homebuyer Dream Program grant with your first mortgage.
Step 6: Find a home within program price limits. The Suffolk County HOME program caps the purchase price at $532,000 for existing homes and $555,000 for new construction. CDLI caps at $500,000. Homes above these limits may still qualify for state-level programs.
Step 7: Submit your applications and work with your lender and housing counselor to coordinate funding from multiple sources. Expect the process to take 60 to 90 days from application to closing.
Frequently Asked Questions
How much down payment assistance can I get in Smithtown?+−
Do I have to be a first-time homebuyer to qualify?+−
What is the maximum home price I can pay and still qualify?+−
What homebuyer education is required?+−
Can I combine multiple programs to cover my full down payment?+−
Are there programs for buyers who are not low-income?+−
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