Niagara Falls First-Time Homebuyer Closing Cost Grant

What is 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.
• This is a federal program, so it is available beyond a single state or city.
• Funding comes from HUD funds (CDBG/HOME).

How much assistance does it provide?

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.

Do you have to pay it back?

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.

Who qualifies?

Niagara Falls First-Time Homebuyer Closing Cost Grant is open to first-time homebuyers and buyers who will live in the home as their primary residence.

What are the income limits?

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’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?

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

Where does it apply?

Niagara Falls First-Time Homebuyer Closing Cost Grant is a federal program, so it is not limited to New York.

How do you apply?

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.

1. 1

   Take a homebuyer education course

   Required by the program, through Niagara Falls Neighborhood Housing Services (NeighborWorks Community Partners) - monthly first-time homebuyer education; certificate required.

2. 2

   Contact City of Niagara Falls Department of Community Development to reserve funds

   Funds are reserved with the provider 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.