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Town of Amherst First-Time Homebuyer Program (Down Payment/Closing Cost Assistance)

Town of Amherst Planning Dept., Community Development Office (Amherst-Cheektowaga-Tonawanda HOME Consortium) · Amherst, New York

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See what you qualify forOfficial program site →
Assistance

$50,000

The maximum the program publishes — not an offer

Income limit

80% AMI

Of area median income; varies by county and household size

Price cap

$265,000

Highest purchase price the program allows

Repayment

Forgivable

Forgiven after 15 years

What is Town of Amherst First-Time Homebuyer Program (Down Payment/Closing Cost Assistance)?

Town of Amherst First-Time Homebuyer Program (Down Payment/Closing Cost Assistance) is a forgivable loan for homebuyers in Amherst, New York, administered by Town of Amherst Planning Dept., Community Development Office (Amherst-Cheektowaga-Tonawanda HOME Consortium).

  • The Town of Amherst, a member of the Amherst-Cheektowaga-Tonawanda HOME Consortium, offers deferred 0% interest loans of up to $50,000 to income-eligible first-time homebuyers for down payment and closing costs on a home in the Town of Amherst or Village of Williamsville. Assistance brings the buyer's front-end ratio to 35%; remaining funds cover closing costs. The down payment portion is forgiven after 15 years of owner-occupancy; the closing-cost portion is always repayable. HOME-funded and administered by the Town's Community Development Office.
  • Up to $50,000 in 0% interest deferred assistance.
  • DPA portion forgiven after 15 years.
  • Can buy down points.
  • No monthly payments.
  • Funding comes from Federal HOME Investment Partnerships Program via the Amherst-Cheektowaga-Tonawanda HOME Consortium.

How much assistance does it provide?

Town of Amherst First-Time Homebuyer Program (Down Payment/Closing Cost Assistance) offers up to $50,000 in assistance.

  • Buyer contribution: Homebuyer must contribute at least $1,000 toward the down payment.
  • The program can be combined with Supplementary low-down-payment mortgage products; SONYMA/FHA/USDA/VA first mortgages.
  • Amounts are the program's published maximums, not an offer — Town of Amherst Planning Dept., Community Development Office (Amherst-Cheektowaga-Tonawanda HOME Consortium) determines any individual award.

Do you have to pay it back?

Town of Amherst First-Time Homebuyer Program (Down Payment/Closing Cost Assistance) is forgiven after 15 years, so a buyer who stays that long does not repay it.

  • Repayment is triggered by DPA portion forgiven after 15 years of continuous owner-occupancy; due in full on sale, title transfer, refinance, or ceasing owner-occupancy. Closing-cost portion is always repayable.
  • The assistance is recorded in Subordinate (second lien securing the Consortium loan) position.
  • Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

Town of Amherst First-Time Homebuyer Program (Down Payment/Closing Cost 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: false
  • The home is occupied as a primary residence
  • A completed homebuyer education course, through Belmont Housing Resources for WNY, Inc. (free six-hour HUD-certified homebuyer workshop) - (716) 884-7791 x131
  • Residency: Property in the Town of Amherst or Village of Williamsville; occupy as principal residence (>=9 months/year).
  • DRAFT (dpa-gap-finder 2026-06-13): pending review. LOAN TERM: deferred 0% forgivable loan up to $50,000 secured by a collateral (second) mortgage; DPA portion forgiven after 15 years of continuous principal-residence occupancy, closing-cost portion never forgiven; repayment on sale/transfer/refinance/additional debt requiring subordination/loss of owner-occupancy. STATUS: live Town site shows program 'closed for the time being due to funding limitations,' accepting waiting-list applications only, but maintains current FY2026 documentation (Fact Sheet, Guidelines, Income Guidelines eff. 6/1/2026; waitlist application 7/2025) - actively administered recurring program in a temporary funding lapse; re-verify open/closed intake at review. ELIGIBILITY: first-time buyer (no ownership prior 3 yrs); <=80% Erie County AMI; min $1,000 buyer contribution; front-end DTI <=35%, back-end <=45%; max price $265,000 single-family; outside 100/500-yr floodplain; Belmont Housing workshop required. GAP NOTES (blank): assistance_amount_min, assistance_percentage, recapture IRS detail, min_credit_score, max_liquid_assets, annual_funding_cap, citizenship, rate_lock_period, participating lenders list.

The program excludes

  • Manufactured homes
  • New construction
  • Purchases above the $265,000 price cap
  • Households above 80% of area median income

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?

Town of Amherst First-Time Homebuyer Program (Down Payment/Closing Cost Assistance) limits household income to 80% of the area median income, which varies by county and household size.

  • At or below 80% of Erie County AMI (FY2026, eff. 6/1/2026): 1=$56,850; 2=$65,000; 3=$73,100; 4=$81,200; 5=$87,700; 6=$94,200; 7=$100,700; 8=$107,200. Income of all members 16+ counted per 24 CFR 5.609.
  • 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.

What kind of home can it be used for?

Town of Amherst First-Time Homebuyer Program (Down Payment/Closing Cost Assistance) caps the purchase price at $265,000.

  • Eligible property types include Single Family, Condo, and Townhouse.
  • New construction is not eligible.
  • Manufactured homes are not eligible.

Where does it apply?

Town of Amherst First-Time Homebuyer Program (Down Payment/Closing Cost Assistance) serves buyers purchasing in Amherst, New York.

How do you apply?

Applications for Town of Amherst First-Time Homebuyer Program (Down Payment/Closing Cost Assistance) go through Town of Amherst Planning Dept., Community Development Office (Amherst-Cheektowaga-Tonawanda HOME Consortium), which publishes the current terms and the application steps on its own site.

  1. Take a homebuyer education course

    Required by the program, through Belmont Housing Resources for WNY, Inc. (free six-hour HUD-certified homebuyer workshop) - (716) 884-7791 x131.

  2. Contact Town of Amherst Planning Dept., Community Development Office (Amherst-Cheektowaga-Tonawanda HOME Consortium) to reserve funds

    Funds are reserved through Application-based through Town Community Development; waiting list when funds exhausted. Currently temporarily closed (funding limitations), accepting waiting-list applications only., 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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