Mayor Eric Adams announced the expansion of the HomeFirst Down Payment Assistance Program, increasing the city's investment to $82 million over five years. This program now offers up to $100,000 in assistance for first-time homebuyers and raises the income eligibility from 80% to 120% of the area median. This expansion aims to help 1,000 more families attain homeownership, supporting the belief that owning a home fosters generational wealth. Partnerships with local nonprofits will streamline support services, targeting broader accessibility in all five boroughs.
The HomeFirst Down Payment Assistance Program is being expanded, doubling the city's investment to $82 million over the next five fiscal years to assist homebuyers.
This initiative aims to help 1,000 more New York City households achieve home ownership and build generational wealth for their families.
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