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INHS Down Payment Assistance

Ithaca Neighborhood Housing Services, Inc. (INHS) · Ithaca, New York

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See what you qualify forOfficial program site →
Assistance

$20,000

The maximum the program publishes — not an offer

Repayment

Deferred

No payments until the home is sold or refinanced

What is INHS Down Payment Assistance?

INHS Down Payment Assistance is a deferred second loan for homebuyers in Ithaca, New York, administered by Ithaca Neighborhood Housing Services, Inc. (INHS).

  • INHS offers up to $20,000 in down payment and closing cost assistance to first-time, moderate-income homebuyers who live or work in Cayuga, Chemung, Cortland, Schuyler, Seneca, Tioga, or Tompkins County. The gap-financing assistance fills the difference between what a buyer can afford and the cost of housing; rates set monthly.
  • Up to $20,000 gap financing.
  • Soft credit pull during counseling.
  • HUD-approved education.
  • 7-county region by residence OR workplace.
  • This is a federal program, so it is available beyond a single state or city.
  • Funding comes from Grants and other funds (federal HOME/CDBG and state); subject to availability.

How much assistance does it provide?

INHS Down Payment Assistance offers up to $20,000 in assistance.

  • The program can be combined with First mortgage financing; INHS reviews other local assistance.
  • Amounts are the program's published maximums, not an offer — Ithaca Neighborhood Housing Services, Inc. (INHS) determines any individual award.

Do you have to pay it back?

INHS Down Payment Assistance is deferred, so no payments are due until the home is sold, refinanced, or the first mortgage is paid off.

  • Repayment is triggered by Terms vary by funding source; gap-financing loans.
  • The assistance is recorded in Subordinate position.
  • Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

INHS Down Payment Assistance 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: For first-time homebuyers of moderate income
  • The home is occupied as a primary residence
  • A completed homebuyer education course, through INHS HomeOwnership education and counseling (HUD-approved; eHomeAmerica online)
  • Residency: Must live OR work in Cayuga, Chemung, Cortland, Schuyler, Seneca, Tioga, or Tompkins County
  • DRAFT (dpa-gap-finder 2026-06-12): pending admin review. Required intake docs: four recent paystubs, two years of federal tax returns with W-2s, two months of bank statements, recent retirement statements.

The program excludes

  • Manufactured homes
  • New construction

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?

INHS Down Payment Assistance sets its income limit as follows: Eligibility determined by household income limits and funder/underwriting requirements; moderate income. Limits vary by funding source.

  • 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.

What kind of home can it be used for?

INHS Down Payment Assistance can be used for Single Family, 2-4 Unit, and Condo.

  • New construction is not eligible.
  • Manufactured homes are not eligible.

Where does it apply?

INHS Down Payment Assistance is a federal program, so it is not limited to New York.

How do you apply?

Applications for INHS Down Payment Assistance go through Ithaca Neighborhood Housing Services, Inc. (INHS), which publishes the current terms and the application steps on its own site.

  1. Take a homebuyer education course

    Required by the program, through INHS HomeOwnership education and counseling (HUD-approved; eHomeAmerica online).

  2. Contact Ithaca Neighborhood Housing Services, Inc. (INHS) to reserve funds

    Funds are reserved through Intake packet, then meeting with an INHS lender; ~two business days, 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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