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CHI First-Time Homebuyer Grant Program (SMART MOVE NY)

Community Housing Innovations, Inc. (CHI) · Yonkers, New York

Last verified
See what you qualify forOfficial program site →
Assistance

$32,500–$60,000

The maximum the program publishes — not an offer

Income limit

110% AMI

Of area median income; varies by county and household size

Repayment

Forgivable

Forgiven after 5 years

What is CHI First-Time Homebuyer Grant Program (SMART MOVE NY)?

CHI First-Time Homebuyer Grant Program (SMART MOVE NY) is a forgivable loan for homebuyers in Yonkers, New York, administered by Community Housing Innovations, Inc. (CHI).

  • Community Housing Innovations, Inc. (CHI), a HUD-certified nonprofit serving Westchester County (including the City of Yonkers), administers a First-Time Homebuyer Grant Program funded through the NYS Affordable Housing Corporation and the NYS HOME Program. Income-qualified first-time buyers receive up to $60,000 (tiered by AMI) toward down payment, closing costs, and rehabilitation. The assistance is a forgivable (silent) second-mortgage lien forgiven 20% per year over 5 years. The companion SMART MOVE NY low-interest DPA loan provides up to 20% of the purchase price. Buyers must contribute at least 3% of their own funds, attend CHI's orientation, complete HUD-approved homebuyer education, occupy the home as their principal residence, and finance through a CHI participating lender.
  • Up to $60,000 in grant assistance.
  • Forgivable silent second lien (20%/year, fully forgiven after 5 years).
  • Funds usable for down payment, closing costs, and rehabilitation.
  • SMART MOVE NY low-interest loan up to 20% of purchase price.
  • Free homebuyer orientation, HUD education, and counseling.
  • This is a federal program, so it is available beyond a single state or city.
  • Funding comes from U.S. HUD HOME Investment Partnerships Program (NYS HOME Program) and NYS Affordable Housing Corporation (AHC) Home Ownership and Revitalization Program / SONYMA.

How much assistance does it provide?

CHI First-Time Homebuyer Grant Program (SMART MOVE NY) offers between $32,500 and $60,000 in assistance.

  • Award tiers: Grant amount tiered by household income vs. AMI: $60,000 (up to 60% AMI), $50,000 (up to 80% AMI), $40,000 (up to 90% AMI), $32,500 (up to 110% AMI).
  • Buyer contribution: Minimum 3% of the purchase price from the applicant's own funds (documented savings, 401K, or gifts); not from other grant programs.
  • The program can be combined with Other DPA sources noted on application (e.g., FHLBNY Homebuyer Dream Program grant, LIHP, CDC); applicant must disclose other grant assistance.
  • Amounts are the program's published maximums, not an offer — Community Housing Innovations, Inc. (CHI) determines any individual award.

Do you have to pay it back?

CHI First-Time Homebuyer Grant Program (SMART MOVE NY) is forgiven after 5 years, so a buyer who stays that long does not repay it.

  • Repayment is triggered by Sale, transfer, refinance, or failure to occupy as principal residence before the 5-year silent second lien is fully forgiven; lien forgiven at 20% per year.
  • 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.

Who qualifies?

CHI First-Time Homebuyer Grant Program (SMART MOVE NY) is open to first-time homebuyers and buyers who will live in the home as their primary residence.

The program requires

  • First-time homebuyer — with exceptions: Applicant, co-applicants, and non-borrowing spouses must all be first-time homebuyers (no ownership of a home in the last 3 years)
  • The home is occupied as a primary residence
  • A completed homebuyer education course, through Community Housing Innovations, Inc. (HUD-certified counseling agency) - free Homebuyer Grant Orientation plus HUD-approved homebuyer education course
  • Residency: Grant recipient must occupy the purchased home as principal residence for the duration of the grant; monitored annually
  • DRAFT (dpa-gap-finder 2026-06-08): pending review. Program serves Westchester County broadly (includes City of Yonkers); CHI's page does not publish a Yonkers-city-specific carve-out or a maximum purchase price, so max_purchase_price is omitted. UNCONFIRMED (omitted): max_purchase_price, min credit score, max DTI cap, SMART MOVE NY interest rate, annual_funding_cap, reservation_system, required_mortgage_term/rate_type. Applicant may NOT already be in contract. City of Yonkers' own HOME Program is a developer/nonprofit block grant (not a direct individual-homebuyer DPA), so the Westchester/CHI program was documented per the fallback instruction.

The program excludes

  • New construction
  • Households above 110% of area median income

These are the program's own published rules, not a decision about any individual — the administering agency and a lender determine who actually qualifies.

What are the income limits?

CHI First-Time Homebuyer Grant Program (SMART MOVE NY) limits household income to 110% of the area median income, which varies by county and household size.

  • Westchester County 2025-2026 maximum gross household income by family size and AMI tier. 4-person limits: $102,000 (60% AMI), $136,000 (80% AMI), $152,320 (90% AMI), $186,320 (110% AMI). Limits scale by household size 1-6.
  • The limit applies to total household income, not only the borrower’s.
  • The program lists a maximum household size of 6.
  • Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

What kind of home can it be used for?

CHI First-Time Homebuyer Grant Program (SMART MOVE NY) can be used for Single Family, Condo, and Co-op.

  • New construction is not eligible.

Where does it apply?

CHI First-Time Homebuyer Grant Program (SMART MOVE NY) is a federal program, so it is not limited to New York.

How do you apply?

Applications for CHI First-Time Homebuyer Grant Program (SMART MOVE NY) go through Community Housing Innovations, Inc. (CHI), which publishes the current terms and the application steps on its own site.

  1. Take a homebuyer education course

    Required by the program, through Community Housing Innovations, Inc. (HUD-certified counseling agency) - free Homebuyer Grant Orientation plus HUD-approved homebuyer education course.

  2. Contact Community Housing Innovations, Inc. (CHI) to reserve funds

    Funds are reserved with the provider and are subject to availability.

  3. Work with a lender who handles the program

    Hey Prescott is not a lender and does not accept applications; this page describes the program so a buyer can take it to a lender or housing counselor.

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