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.

Down Payment & Closing Cost Plus (DPCC+) is forgiven after 5 years, so a homebuyer 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.

Down Payment & Closing Cost Plus (DPCC+) is open to first-time homebuyers and homebuyers who will live in the home as their primary residence. "First-time" has exceptions here: First-time buyer required; standard HUD exceptions for displaced homemakers and single parents apply. On credit, the program states: Minimum 620 FICO required by NW Buffalo underwriting. A homebuyer education course is required, through NeighborWorks Community Partners of Buffalo (HUD-approved); pre-purchase education and one-on-one counseling required. Residency requirement: Property must be located within Erie or Niagara County and used as borrower's principal residence. Citizenship or immigration status: U.S. citizen or eligible non-citizen per HUD HOME and first-mortgage rules. First-time buyer required (no homeownership in past 3 years). Property must be a 1-2 family home located within Erie or Niagara County and used as principal residence. Minimum credit score 620. Income generally at or below 80%-100% AMI for Buffalo-Cheektowaga MSA: 1-person ~$46,800 to 4-person ~$124,450 (HUD FY2025; tiered by program funding source). Buyer must complete NW Buffalo's HUD-approved homebuyer education and one-on-one counseling. Property must pass HQS inspection. 0% interest deferred forgivable second-lien loan with pro-rata forgiveness over 5 years; due in full if borrower sells, transfers, refinances with cash-out, rents, or vacates within 5 years.

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.

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.

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

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. 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. 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.