CHI First-Time Homebuyer Grant Program (NYS Affordable Housing Corporation)

CHI First-Time Homebuyer Grant Program (NYS Affordable Housing Corporation) is a deferred second loan for homebuyers in Westchester; Nassau; Suffolk; Dutchess County, New York, administered by Community Housing Innovations, Inc. (CHI) (via NYS Affordable Housing Corporation). A NYS Affordable Housing Corporation first-time homebuyer grant administered by CHI covering down payment and/or closing costs plus rehabilitation expenses, available across Westchester, Nassau, Suffolk, and Dutchess counties. Grant is tiered by income (up to $60,000 at 60% AMI, scaling down to $32,500 at 110% AMI; Dutchess caps at $50,000). Requires a minimum 3% borrower contribution, mortgage from a CHI participating lender, free Grant Orientation, and HUD-approved education. Up to $60,000 forgivable down payment/closing/rehab grant. Income limits up to 110% AMI. Covers four counties. Funding comes from New York State Affordable Housing Corporation (AHC) administered by CHI.

CHI First-Time Homebuyer Grant Program (NYS Affordable Housing Corporation) offers between $32,500 and $60,000 in assistance. Award tiers: Tiered by income: up to $60,000 (60% AMI), $50,000 (80% AMI), $40,000 (90% AMI), $32,500 (110% AMI). Dutchess County max tier is $50,000 (80% AMI). Homebuyer contribution: Minimum 3% of purchase price required from borrower (documented savings, 401K, or gifts). Amounts are the program's published maximums, not an offer — Community Housing Innovations, Inc. (CHI) (via NYS Affordable Housing Corporation) determines any individual award.

CHI First-Time Homebuyer Grant Program (NYS Affordable Housing Corporation) is forgiven after 10 years, so a homebuyer who stays that long does not repay it. Repayment is triggered by Sale, transfer, refinance, or failure to occupy as primary residence during the affordability term. The assistance is recorded in second position. Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

CHI First-Time Homebuyer Grant Program (NYS Affordable Housing Corporation) is open to first-time homebuyers and homebuyers who will live in the home as their primary residence. "First-time homebuyer" usually means not having owned a home in the last three years, but the program sets its own definition. A homebuyer education course is required, through CHI Grant Orientation plus HUD-approved homebuyer education course. Must use a CHI Participating Lender. Minimum 3% buyer contribution. Free Grant Orientation mandatory before applying. Income tiers and max grant differ by county. Distinct from CHI's Yonkers Smart Move SONYMA DPAL product and the catalog's Dutchess-County-specific CHI entry; review for overlap in Dutchess. Exact forgiveness term, credit/DTI minimums, and rehab split not fully published online.

CHI First-Time Homebuyer Grant Program (NYS Affordable Housing Corporation) limits household income to 110% of the area median income, which varies by county and household size. Tiered gross household income limits up to 110% AMI by county and family size (2025-2026). Example (Westchester, 4-person): $186,320 at 110% AMI / $136,000 at 80% AMI. Nassau-Suffolk 4-person: $180,850 at 110% / $131,900 at 80%. Dutchess 4-person: $134,850 at 110% / $98,400 at 80%. 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.

CHI First-Time Homebuyer Grant Program (NYS Affordable Housing Corporation) can be used for Single Family, Condo, and Co-op.

CHI First-Time Homebuyer Grant Program (NYS Affordable Housing Corporation) serves homebuyers purchasing in Westchester; Nassau; Suffolk; Dutchess County, New York.

Applications for CHI First-Time Homebuyer Grant Program (NYS Affordable Housing Corporation) go through Community Housing Innovations, Inc. (CHI) (via NYS Affordable Housing Corporation), which publishes the current terms and the application steps on its own site. Funds are reserved through Free Grant Orientation required; apply via CHI; subject to AHC funding availability. 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.