Town of Babylon HOME Down Payment Assistance Program

Administered by: Town of Babylon Community Development / Long Island Housing Partnership · City · Forgivable Loan

Funding status: Active

How much assistance

Up to $50,000 (Forgivable Loan)

Zero-interest deferred loan forgiven after 10 years of owner-occupancy. If the home is sold before the 10-year affordability period, all grant funds must be repaid in full.

Eligibility

  • Income limits: At or below 80% of HUD median income for the Nassau-Suffolk area, adjusted for family size. Minimum income of $30,000.
  • First-time buyer required: Yes — Must not have owned a home during the three-year period prior to the date of application.
  • Geographic restrictions: Must purchase within the boundaries of the Town of Babylon. No foreclosures, short sales, bank owned or REO properties.
  • Homebuyer education required: Yes

How to Apply for Town of Babylon HOME Down Payment Assistance Program

Step 1: Contact the Long Island Housing Partnership at (631) 435-4710 to request an intake form. Forms are mailed to interested homebuyers. Must attend a mortgage counseling session at LIHP and complete a HUD-certified homebuyer education course.

Visit program website

Notes

Applicant must contribute a minimum of $3,000 towards down payment/closing costs from personal funds. Funded through federal HOME Investment Partnership Program. Housing counseling also available through Wyandanch Community Development Corp at (631) 643-4786.

Cities Where This Program Is Available