BNY Down Payment Assistance

BNY Down Payment Assistance is a grant for homebuyers in Statewide, California. Bank-funded LMI/SPCP grant; closing cost or down payment help. Lender credit at closing. Up to $15,000 down payment / closing cost grant from Bank of New York Mellon (BNY) lending program for LMI borrowers and properties in eligible LMI/SPCP census tracts. This is a nationwide program, so it is available beyond a single state or city. Funding comes from Bank of New York Mellon.

BNY Down Payment Assistance is structured as a grant, so it is not repaid. Repayment is triggered by none (grant). Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

BNY Down Payment Assistance is open to homebuyers who will live in the home as their primary residence. A homebuyer education course is required, through Required - HUD-approved. Sourced via Homebuyer Wallet (NAT260058). Limited correspondent network; BNY administers grants via partner lenders. Income / property eligibility per BNY SPCP guidelines.

BNY Down Payment Assistance sets its income limit as follows: Low-to-moderate income or LMI/SPCP census tract. The limit applies to total household income, not only the borrower’s. Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

BNY Down Payment Assistance can be used for Single-family, Condo, Townhouse.

BNY Down Payment Assistance is a nationwide program, so it is not limited to one state.

Applications for BNY Down Payment Assistance go through the administering agency. Hey Prescott is not a lender and does not accept applications; this page describes the program so a homebuyer can take it to a lender or housing counselor.