As a first-time home buyer, there are several programs and financial assistance you can avail to help you fund your real estate purchase in Westchester County.

Housing Action Council (HAC)

(914) 332-4144
http://www.housingactioncouncil.org/

HAC provides financial assistance programs as well as counseling for first-time home buyers. You can apply for the First Home Club savings plan which covers a 10 to 30-month savings period and up to $5,000 in down payment, or you can opt for the Front Door Program, as long as you are considered income-eligible and a current resident in Westchester County.

Westchester Residential Opportunities (WRO)

(914) 428 4507
http://wroinc.org

WRO provides financial assistance for low- and moderate-income people, senior citizens, minorities, as well as the mentally disabled. They offer a First Home Club assistance, Individual DevelopmentAccounts, and even counseling for first-time home buyers.

Human Development Services of Westchester (HDSW)

(914) 835 8906
http://hdsw.org

One of HDSW’s main goals is to increase and preserve affordable housing in the village of Port Chester. They offer financial programs such as one-to-one homebuyer counseling and a First Home Club savings plan.

Community Housing Innovations, Inc. (CHI)

(914) 683 1010
http://chigrants.org

CHI has several financial programs designed to help first-time homebuyers cover down payment, closing costs, and even rehabilitation expenses. One such program is the Westchester County Home Ownership Initiative, which offers a $25,000 grant to income-eligible first-time homebuyers interested to buy a condo, house, or cooperative within the county.

HomePath by Fannie Mae

1 800 732 6643
http://homepath.com/ready_buyer.html

Under the Federal National Mortgage Association (FNMA), popularly referred to as Fannie Mae, HomePath now offers the HomePath Buyer Ready Program, which services qualified first-time home buyers. Applicants are required to take an education course, which can lead to a 3% closing cost assistance towards your real estate purchase. To qualify for the program, you must be a

• First-time home buyer
• Must reside in the property within 60 days of closing
• Property must be listed on Homepath.com to be considered eligible for the program

 

First-time home buyers living in tenant-occupied properties, as well as buyers using public funds are both considered eligible candidates by Fannie Mae.