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SONYMA Down Payment Assistance Loan (DPAL)

State of New York Mortgage Agency offers Down Payment Assistance Loan (DPAL) to home buyers in New York: up to 3% of the price, at most $15,000, as a forgivable loan.

Amount
Up to 3% of the price, at most $15,000
Kind of help
Forgivable loan
First-time buyers only
No

Forgivable loan: 0% loan forgiven after 10 years. If you sell or refinance sooner, you repay the part not yet forgiven.

A forgivable loan is written off once you have kept the home and its first mortgage for the years the program sets.

Who qualifies for SONYMA Down Payment Assistance Loan (DPAL)?

  • Same as the SONYMA home loan it comes with, set by program and region from HUD's income limits.
  • You don't have to be a first-time buyer.
  • It comes with a SONYMA mortgage (any SONYMA mortgage program).

The exact income limit for your county and household size is on the agency's income chart. Our HUD income limits lookup shows your area's median income.

How to apply for SONYMA Down Payment Assistance Loan (DPAL)

  1. State of New York Mortgage Agency pays this help out through its approved lenders, so you apply with one of them, together with your home loan.
  2. The lender checks your income, credit and the home against the program's rules and reserves the money for you.
  3. The help is paid at closing, toward your down payment and closing costs.

Read the full rules and whether it is taking applications on State of New York Mortgage Agency's page for Down Payment Assistance Loan (DPAL).

Ask a lender about SONYMA Down Payment Assistance Loan (DPAL)

Tell us where you're buying and a lender that works with New York's programs can tell you whether SONYMA Down Payment Assistance Loan (DPAL) fits you, and what you could combine with it.

Call 866-602-7460

Rather not call? Send your details and the lender will reach you.

When you send this request, you agree that one mortgage lender who works with these programs may contact you by email, phone or text, including by automated means, about this request. Agreeing is not a condition of any purchase. We are an independent guide, not a lender or a government agency; only that one lender gets your details, and it may pay us for the introduction. See our about page and privacy notice.

Other first-time buyer programs in New York

All New York first-time home buyer programs · Down payment assistance in every state