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Get Matched Free →CDLI Down Payment and Closing Cost Assistance Loan
Funding status: Active
How much assistance
Up to $75,000
Low-interest repayable loan. Fixed interest rates of 4%, 4.25%, or 4.5% depending on loan size. Subject to change.
Eligibility
- Income limits: Household income at or below 120% of Area Median Income (AMI) based on family size.
- Purchase price limit: $500,000
- First-time buyer required: Yes — Must be a first-time homebuyer.
- Geographic restrictions: Must purchase an owner-occupied property (co-op, condo, single-family, or legal two-family) in Nassau or Suffolk County.
- Homebuyer education required: Yes
How to Apply for CDLI Down Payment and Closing Cost Assistance Loan
Contact CDLI at (631) 471-1215. Complete CDLI's NeighborWorks Home Buyer Education Program. Obtain a commitment for a fixed-rate first mortgage through a NYS-approved lender. Submit application with $120 nonrefundable fee.