New York Housing Grants Resources

New York State did a remarkable thing. Under one roof, entitled Homes and Community Renewal, or HCR, is combined finance and development offices, which include low income housing, affordable housing, tax credit programs and New York housing grants programs.

Housing preservation is also under this roof and includes rehabilitation and renovation programs, Section 8 housing and rent administration. Also included under this roof is community renewal, which covers affordable housing and rural pursuits. Seekers of housing aid will begin here for local and state government resources.

State Of New York Mortgage Agency (SONYMA)

For the State of New York, SONYMA is the starting point when searching for housing resources. They offer mortgage programs for low income first time home buyers, the acquisition of homes needing rehabilitation or renovation for one or two families, down payment assistance programs, and tax credit programs. State of New York headquarters is located at:

641 Lexington Avenue
4th Floor
New York, NY 10022

Phone: (212) 688-4000
Fax: (212) 872-078

New York Housing Grants: New York State Housing Finance Agency

New York is one state that does, indeed, offer a first time home buyer’s grant. The magic of it is that the thing begins as a loan, but no payments are made on the loan. It turns into a grant when the loan is forgiven and does not require repayment. The loan is good for up to 5% of the first mortgage amount. The State Housing Finance Agency can be found at:

641 Lexington Avenue
4th Floor
New York, NY 10022

Phone: (212) 688-4000
Fax: (212) 872-0789

Federal Home Loan Bank

The Affordable Housing Program is funded by FHLB to member banks for the use of first time home buyers and low- to very low-income first time home buyers. There are twelve FHLB branches serving areas around the country. One of their programs is described as a matching savings program for home buyers wherein the seeker saves money each month toward a downpayment on a home and the FHLB matches it when it sees the seeker consistently saving. The maximum downpayment grant is ten thousand dollars. Inquiries may be addressed to:

Federal Housing Finance Agency (FHFA)
1700 G Street, NW
4th Floor
Washington, DC 20552
Phone: 202.414.3800
Fax: 202.414.3823
Email: FHFAinfo@FHFA.gov

New York State Smart Growth

Do you picture yourself as Lisa and Oliver from Green Acres? It could come to pass with a grant to revitalize agricultural and farmland areas. The U. S. Department of Agriculture and Rural Development oversees such grants. Your local or state Rural Development office can help with information, although the main office is located at:

USDA Rural Development, Room 205-W
Mail Stop 0107
1400 Independence Avenue SW
Washington, DC 20250-0107

Phone: (202) 720-4581
TTY: (800) 877-8339 (Federal Relay Service)
Fax: (202) 720-2080