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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: capped at $15,000, this help covers up to 3% of the price, as a forgivable loan.

Amount
Capped at $15,000, this help covers up to 3% of the price
Type of assistance
A loan that can be forgiven
Only first-time buyers qualify
No

The 0% loan is forgiven once 10 years pass. When you sell or refinance sooner, the part not yet forgiven must be repaid.

Keep the home and your first mortgage for the program's set years, and the debt is written off.

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

  • It matches the SONYMA home loan it comes with, based on HUD's income limits for your program and region.
  • Being a first-time buyer isn't required.
  • You get it alongside a SONYMA mortgage, under any SONYMA mortgage program.

To find the exact limit for your county and household size, see the agency income chart. See your area's median income with our HUD income limits tool.

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

  1. You apply for this help and your home loan with one approved lender, because State of New York Mortgage Agency pays it through them.
  2. The lender reviews your credit, income and the property under the program's rules, then sets aside the money for you.
  3. It goes toward your down payment and closing costs when the sale closes.

For the full rules and to see whether it's taking applications, visit 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

Don't want to call? Share your details and the lender will get in touch.

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.

New York's other first-time buyer programs

Every New York first-time home buyer program · Down payment help for every state