Down Payment & Closing Cost Plus (DPCC+)

What is Down Payment & Closing Cost Plus (DPCC+)?

Down Payment & Closing Cost Plus (DPCC+) is a deferred second loan for homebuyers in Buffalo, New York.

• The Down Payment & Closing Cost Plus (DPCC+) Program, administered by NeighborWorks Community Partners of Buffalo, provides up to $10,000 in down payment and closing cost assistance to income-qualified first-time buyers purchasing a 1-2 family primary residence in Erie or Niagara County. Funded with NeighborWorks America, Federal Home Loan Bank, and NYS HCR funds, the assistance is structured as a 0% interest deferred forgivable second-lien loan with pro-rata forgiveness over a 5-year affordability period. The program requires a minimum 620 FICO and completion of NW Buffalo's HUD-approved pre-purchase counseling.
• Up to $10,000 in down payment and closing cost assistance for income-qualified first-time buyers purchasing a primary residence in NeighborWorks Community Partners of Buffalo's service area (Erie and Niagara counties). Funded with NeighborWorks America, Federal Home Loan Bank, and NYS HCR funds.
• provided as a 0% interest deferred forgivable second-lien loan over a 5-year affordability period.
• Funding comes from NeighborWorks, FHLB, NYS HCR, Federal, and State.

Do you have to pay it back?

Down Payment & Closing Cost Plus (DPCC+) is forgiven after 5 years, so a buyer who stays that long does not repay it.

• Repayment is triggered by Pro-rata recapture of unforgiven balance if borrower sells, transfers, refinances with cash-out, rents, or vacates within 5 years.
• The assistance is recorded in 2 position.
• Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

Down Payment & Closing Cost Plus (DPCC+) is open to first-time homebuyers and buyers who will live in the home as their primary residence.

What are the income limits?

Down Payment & Closing Cost Plus (DPCC+) limits household income to 100% of the area median income, which varies by county and household size.

• Household income at or below 80%-100% HUD AMI for Buffalo-Cheektowaga MSA: 1-person ~$46,800 to 4-person ~$124,450 (HUD FY2025).
• The limit applies to total household income, not only the borrower’s.
• The program lists a maximum household size of 8.
• 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?

Down Payment & Closing Cost Plus (DPCC+) caps the purchase price as follows: Per HUD / NeighborWorks / FHLB program guidelines for Buffalo MSA.

• Eligible property types include Single-family detached and 2-family owner-occupied.
• New construction is eligible.
• Manufactured homes are not eligible.

Where does it apply?

Down Payment & Closing Cost Plus (DPCC+) serves buyers purchasing in Buffalo, New York.

How do you apply?

Applications for Down Payment & Closing Cost Plus (DPCC+) go through the administering agency, which publishes the current terms and the application steps on its own site.

1. 1

   Take a homebuyer education course

   Required by the program, through NeighborWorks Community Partners of Buffalo (HUD-approved); pre-purchase education and one-on-one counseling required..

2. 2

   Contact the administering agency to reserve funds

   Funds are reserved through Apply via NW Buffalo after pre-purchase counseling completed and purchase contract executed; first-come, first-served subject to fund availability., and are subject to availability.

3. 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.