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Get Matched Free →Homebuyer Programs in Yonkers, NY (2026)
Yonkers is the fourth-largest city in New York State, located in Westchester County just north of New York City, with a population of about 211,000. The median home price in Yonkers is approximately $570,000. First-time homebuyers in Yonkers can access up to $25,000 through the Westchester County Home Ownership Initiative, plus up to $30,000 from the SONYMA DPAL PLUS program and up to $30,000 from the FHLBNY Homebuyer Dream Program. Additional local resources include the WRO First Home Club (up to $5,000 in matching grants), the HDSW First Home Club (up to $7,500 in matching grants), and the CHI First Time Homebuyer Grant Program. By combining state and county programs, eligible buyers in Yonkers can potentially stack over $50,000 in total assistance toward their home purchase.
Top Homebuyer Programs in Yonkers
| Program Name | Type | Amount | First-Time Only | Details |
|---|---|---|---|---|
| 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:
- 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 Area Median Income (AMI) for Westchester County. The Westchester County Home Ownership Initiative and the Hudson Valley Home Ownership and Revitalization Program both use this threshold.
- Step 2:
Complete homebuyer education. A HUD-approved homebuyer education course is required for nearly all programs. Westchester Residential Opportunities (WRO) at (914) 428-4507 and Community Housing Innovations (CHI) at (914) 683-1010 both offer approved courses in the Westchester County area. Human Development Services of Westchester (HDSW) at (914) 939-2005 also provides bilingual counseling.
- Step 3:
Enroll in a savings match program. The WRO First Home Club offers a 3-to-1 match up to $5,000, and the HDSW First Home Club offers a 4-to-1 match up to $7,500. These require 10 months of consistent saving plus 8-10 hours of counseling.
- Step 4:
Get pre-approved for a mortgage. Work with a SONYMA-approved lender to access the SONYMA DPAL (up to $15,000) or DPAL PLUS (up to $30,000) programs. Ask about the FHLBNY Homebuyer Dream Program grant (up to $30,000) through participating lenders like Municipal Credit Union.
- Step 5:
Apply for Westchester County assistance. Contact a HUD-approved counseling agency to apply for the Westchester County Home Ownership Initiative ($25,000) or the Hudson Valley Home Ownership and Revitalization Program ($25,000 for acquisition and renovation).
- Step 6:
Find a home and submit your application. Work with your lender and counseling agency to complete all program applications. Processing timelines vary by program, so start early in the homebuying process.