New Rochelle Down Payment Assistance Program

Administered by: City of New Rochelle Department of Development / Westchester Residential Opportunities · City · Forgivable Loan

Funding status: Active

How much assistance

Up to 19% of the purchase price (Forgivable Loan)

Owner must occupy the property; forgiveness terms apply based on continued occupancy.

Eligibility

  • Income limits: Must be at or below 80% of Area Median Income (HUD income guidelines); minimum annual household income of $40,000
  • Purchase price limit: $494,000
  • First-time buyer required: Yes — Must not have owned a home in the 3-year period immediately prior to application.
  • Geographic restrictions: Must be a current New Rochelle resident purchasing within the City of New Rochelle.
  • Homebuyer education required: Yes

How to Apply for New Rochelle Down Payment Assistance Program

Step 1: Contact Westchester Residential Opportunities (WRO) at 470 Mamaroneck Avenue, Suite 410, White Plains, NY 10605. Phone: (914) 428-4507. Applicants must contribute at least 1% of the purchase price from their own funds toward the down payment. Complete HUD-approved homebuyer education and qualify for a mortgage through a participating lender.

Visit program website

Notes

Combines HUD HOME program funds with New Rochelle's Affordable Housing Fund. Funds are disbursed as a forgivable loan for single-family homes, co-ops, or condos.

Cities Where This Program Is Available