Niagara Falls First-Time Homebuyer Closing Cost Grant

Niagara Falls First-Time Homebuyer Closing Cost Grant is a grant for homebuyers in Niagara Falls, New York, administered by City of Niagara Falls Department of Community Development. The City of Niagara Falls Department of Community Development, with Niagara Falls Neighborhood Housing Services, offers eligible first-time homebuyers a HUD-funded grant of up to $5,000 for closing costs on a new mortgage in the City of Niagara Falls. Buyers must be at or below HUD 80% AMI, have household assets under $30,000, complete homebuyer education, and agree to own and occupy the home for at least 5 years. Up to $5,000 grant (no repayment after 5-year occupancy). Staff support from application to closing. Funding comes from HUD funds (CDBG/HOME).

Niagara Falls First-Time Homebuyer Closing Cost Grant offers up to $5,000 in assistance. Amounts are the program's published maximums, not an offer — City of Niagara Falls Department of Community Development determines any individual award.

Niagara Falls First-Time Homebuyer Closing Cost Grant is structured as a grant, so it is not repaid. Repayment is triggered by Grant; buyer must own and occupy the home for no less than 5 years. Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Niagara Falls First-Time Homebuyer Closing Cost Grant 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 Niagara Falls Neighborhood Housing Services (NeighborWorks Community Partners) - monthly first-time homebuyer education; certificate required. Residency requirement: Property must be located in the City of Niagara Falls. Financing commitment/pre-qualification letter, signed purchase contract, education certificate, and proof household assets <= $30,000 required.

Niagara Falls First-Time Homebuyer Closing Cost Grant limits household income to 80% of the area median income, which varies by county and household size. Household gross income may not exceed HUD 80% median limits (effective 5/1/26): 1 $56,850; 2 $65,000; 3 $73,100; 4 $81,200; 5 $87,700; 6 $94,200; 7 $100,700; 8 $107,200. The limit applies to total household income, not only the borrower&rsquo;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.

Niagara Falls First-Time Homebuyer Closing Cost Grant can be used for Single Family.

Niagara Falls First-Time Homebuyer Closing Cost Grant serves homebuyers purchasing in Niagara Falls, New York.

Applications for Niagara Falls First-Time Homebuyer Closing Cost Grant go through City of Niagara Falls Department of Community Development, which publishes the current terms and the application steps on its own site. 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.