Deferred second loan
Town of Colonie First Time Homebuyer Program
First-time homebuyers · Income limits · Single Family · Condo · Townhouse
Down payment assistance · Albany County
Buying a home in Colonie, NY
1 Colonie program, 2 county programs and 3 statewide.Colonie has 1 program of its own, 2 more across Albany County, and 3 statewide. Here is what each one offers, what the local market looks like, and who near you can walk you through it.
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Only for Colonie addresses
Colonie’s own program
Anywhere in AlbanyAnywhere in Albany County
2 county programs2 county programs a Colonie homebuyer can also use
1 more program is for homes in Albany. See them 1 program in neighboring cities — for homes inside those cities, not Colonie
- Albany — Home Acquisition Program (HAP)
The Colonie marketThe Colonie housing market
Kinds of homes hereWhat’s for sale here, and what the programs accept
Kinds of homes in Colonie
- 83.6% single-familysingle-family
- 1% townhousetownhouse
- 5% 2–4 units2–4 units
- 10.1% 5+ unitscondo & apartment buildings (5+ units)
- 0.3% mobile & othermobile home & other
Condos count. All 3 of Colonie’s local and county programs accept condos.
U.S. Census Bureau, American Community Survey 2024 5-year (2020–2024). Table B25024.
When Colonie’s homes were built
pre-19401970s2020+
81%
of Colonie homes were built before 1980. Pre-1978 homes come with a federal lead-paint disclosure.of homes were built before 1980. A home built before 1978 comes with a federal lead-paint disclosure, and some programs require an inspection.
U.S. Census Bureau, American Community Survey 2024 5-year (2020–2024). Table B25034.
$123,100
County area median income, 4 people (HUD)HUD area median income, Albany County, 4-person household (2026)
$103,983
Colonie median household incomeMedian household income in Colonie (Census, 2024)
12 of the 68 programs here set their income limit as a share of Albany County’s area median income, adjusted for household size. See the published limits for Albany County
Free help nearbyFree help near Colonie
5 HUD-approved counseling agencies within 15 miles5 HUD-approved housing counseling agencies within 15 miles
2 programs here ask for a homebuyer class first. Create a free account to see who’s near you and pick one.2 of the 3 local programs here ask for a homebuyer class. A HUD-approved counselor teaches it and can walk you through your options. Create a free account to see who’s near you and pick one.
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Across New York and nationwide
65 statewide & federal programs3 statewide programs, plus federal options
Colonie questions
Does Colonie have its own down payment program?
Yes, one: Town of Colonie First Time Homebuyer Program, a deferred second loan for first-time homebuyers (forgiven over 10 yrs, income limits). It is for homes inside Colonie.
Can I use assistance on a condo in Colonie?
All 3 of Colonie’s local and county programs accept condos. Each program’s page lists the kinds of homes it accepts, and the agency confirms it for the home you choose.
What is the income limit in Albany County?
Each program sets its own. 12 of the programs here set theirs as a share of HUD’s area median income for Albany County, adjusted for household size. HUD publishes the median each year; the 2026 figure is shown above and on the published limits page.
Where can I take a homebuyer class near Colonie?
HUD-approved housing counseling agencies teach homebuyer classes, and 5 agencies are within 15 miles of Colonie. Create a free account and take the 90-second match to see the ones near you.
Nearby in Albany
Sources
Sources: agency sites (July–September 2026), Census ACS 2024 5-year, HUD FY2026, HUD counseling list. Hey Prescott is not a lender.Programs: Hey Prescott catalog of 2,000+ programs, each verified with its agency (July–September 2026). Market: U.S. Census Bureau, American Community Survey 2024 5-year (2020–2024). Income: HUD FY2026 income limits. Counselors: HUD list of approved housing counseling agencies. Hey Prescott is not a lender.