Last verified: October 20, 2026, against NYC HPD’s HomeFirst page.
HomeFirst down payment assistance in Queens is a forgivable loan from NYC’s Department of Housing Preservation and Development (HPD) of up to $100,000 toward your down payment or closing costs. It is for first-time buyers with household income up to 120% of Area Median Income who buy a 1-4 family home, condo or co-op to live in. Here is how the program works in Queens as of October 2026, from Alejandra Fermin and Elias Borjas of Empire Fine Homes.
What HomeFirst Is (in One Minute)
HomeFirst is run by NYC HPD and serviced on HPD’s behalf by Neighborhood Housing Services of New York City (NHSNYC). It is not a grant you simply receive. It is a forgivable loan: if you keep the home as your primary residence for the full required period, you do not pay it back. The money goes toward your down payment or closing costs and is released at closing.
The program covers all five boroughs, so it works in Queens neighborhoods such as Jackson Heights, East Elmhurst, Corona, Woodhaven and Jamaica, as long as the buyer, the home and the price all meet the rules below. If you want a broader look at every option, start with our overview of down payment assistance programs in Queens. This post is the deep dive on HomeFirst.
Do You Qualify? The 2026 HomeFirst Checklist
Eligibility is decided by HPD and its approved counseling agencies, not by a real estate agent. This checklist helps you see whether you may qualify before you call one.
First-time buyer rule
You must be a first-time homebuyer. Under HPD’s HomeFirst term sheet, that means you have not owned a home in the past three years. So if you sold a home more than three years ago, you may still count.
2026 HomeFirst income limits
Your household income must be at or below 120% of Area Median Income (AMI). These are the limits listed on HPD’s site as of October 2026 (effective June 1, 2026; source: HUD):
| Household size | Maximum household income (120% AMI) |
|---|---|
| 1 person | $142,560 |
| 2 people | $162,840 |
| 3 people | $183,240 |
| 4 people | $203,520 |
| 5 people | $219,840 |
| 6 people | $236,160 |
| 7 people | $252,480 |
| 8 people | $268,680 |
Limits change when HUD updates them. Always confirm the current numbers on the HPD HomeFirst page. Your counseling agency certifies your income.
Your 3% contribution
HomeFirst does not replace your own savings. HPD requires a down payment or contract deposit of at least 3% of the purchase price from your own funds. On a $600,000 home, that is at least $18,000 of your own money.
What you can’t do
- No non-occupying co-signers. Under the term sheet, co-signers, co-borrowers or guarantors who will not live in the home are not allowed. A parent who stays in their own apartment cannot co-sign.
- No buying from a relative. Purchases from family members, such as a parent, sibling, cousin or in-law, are excluded.
- No renting your own unit. The home must be your primary residence for the loan term, and the term sheet says you must live there at least 270 days a year.
Queens HomeFirst Price Limits by Property Type
For existing homes, the purchase price must be at or below 95% of HUD’s purchase price limits. These are the Queens limits listed by HPD as of October 2026 (effective December 1, 2025, until HUD issues new ones):
| Property | Queens maximum price | Brooklyn (Kings) maximum price |
|---|---|---|
| 1-unit (single-family, condo, co-op) | $699,000 | $732,000 |
| 2-unit | $894,000 | $936,000 |
| 3-unit | $1,083,000 | $1,134,000 |
| 4-unit | $1,342,000 | $1,404,000 |
We list Brooklyn too because many of our buyers look in both boroughs. Newly built or rehabilitated homes have separate limits, and HPD’s term sheet mentions “Exception Areas” that may allow higher prices. Ask your counseling agency whether either applies to a home you like.
Co-ops, condos and 1-4 family homes
HomeFirst can be used on a 1-4 family home, a condo or a co-op anywhere in the five boroughs, as long as you live there. The home must also pass a Housing Quality Standards (HQS) inspection before purchase; the term sheet says within 90 days of closing. That matters in Queens, where much of the housing stock is older. An inspection problem can delay or stop a HomeFirst purchase, so look at condition early.
Using HomeFirst on a 2-family in Corona, Jamaica or Woodhaven
Two-family houses are common in Corona, Jamaica and Woodhaven, and many first-time buyers use the rent from the second unit to help with the mortgage. HomeFirst allows that: you may rent the units you do not live in, but you cannot rent the unit you live in. In Queens, a 2-unit home must be priced at or below $894,000 as of October 2026. Your lender decides how rental income is counted.
How Much You Can Get and How Forgiveness Works
The loan is up to $100,000, but never more than 20% of the purchase price, whichever is lower. On a $400,000 home, the most you could receive is $80,000. On any home priced at $500,000 or more, the most is $100,000.
Forgiveness depends on the loan amount:
- $40,000 or less: you must live in the home for at least 10 years.
- More than $40,000: at least 15 years.
- City-funded loans: 15 years regardless of amount.
If you sell, refinance or move out before the term ends, repayment rules may apply. Ask your counseling agency and your real estate attorney to explain exactly what you would owe. We don’t give legal or tax advice.
Also Check: SONYMA DPAL Plus 2026
SONYMA DPAL Plus 2026 is a separate, limited down payment assistance loan from the State of New York Mortgage Agency (SONYMA) of up to $30,000 at 0% interest for eligible first-time buyers. It is not part of HomeFirst, but Queens buyers who are looking at HomeFirst should know about it. Details below are from SONYMA’s DPAL Plus 2026 term sheet and NYS Homes and Community Renewal, as of October 2026.
| DPAL Plus 2026 | What the term sheet says |
|---|---|
| Amount | Pays down payment and closing costs until the first mortgage reaches 80% loan-to-value, up to $30,000. It can also pay single-premium mortgage insurance when the loan is above 80% LTV. |
| Interest and forgiveness | 0% interest on the DPAL funds, but the first mortgage rate is 0.40% higher. Forgiven in equal monthly installments over the first 10 years (120 months) you live in the home; any unforgiven balance is subject to recapture. |
| Income limits (NYC, including Queens) | $122,110 for 1-2 person households; $142,460 for 3+ person households, as listed in the term sheet |
| Price cap | $500,000 |
| Property | 1-4 family home, condo, co-op, or manufactured home on land you own, in New York State |
| Buyer | First-time homebuyer (exceptions for eligible veterans and purchases in federally designated targeted areas); must live in the home; homebuyer education before loan approval |
| Mortgage | Must be used with a SONYMA mortgage through a SONYMA participating lender. The DPAL sits in second lien position, after all other subsidies are applied. |
| Your own money | SONYMA requires at least 1% of the value from the buyer (3% for co-ops and 3-4 family homes) |
Funding is limited. The program has $7.5 million in total, launched July 1, 2026, and funds go first-come, first-served until they run out unless SONYMA says otherwise. We can’t tell you whether money is still available: as of October 20, 2026, check hcr.ny.gov.
Can you use DPAL Plus together with HomeFirst? The term sheet only says other subsidies are applied first. Whether both can go on the same purchase is a question for a SONYMA participating lender and your HomeFirst counseling agency. Eligibility for either program is decided by the program and lender, not by us.
Step-by-Step: How to Apply for HomeFirst in Queens
1. Pick an HPD-approved counseling agency
Everything starts with a counseling agency. It enrolls you in the education class, certifies your income and helps you complete the HomeFirst Loan Application (HPD’s page labels it the “2025 HomeFirst Loan Application”). HPD lists these Queens agencies:
| Agency | Location | Phone | Languages |
|---|---|---|---|
| NHS of Queens CDC | 60-20 Woodside Ave, 2nd Fl, Woodside | 718-457-1017 | English, Spanish |
| Margert Community Corporation | 10-18A Beach 20th St, Far Rockaway | 718-471-3724 | English, Spanish |
| Asian Americans For Equality | 133-29 41st Ave, Suite 201, Flushing | 718-961-0888 | English, Mandarin, Cantonese |
| Chhaya CDC | 37-43 77th St, 2nd Fl, Jackson Heights | 718-478-3848 x12 | Bangla/Bengali, English, Hindi, Urdu |
| NHS of Jamaica | 89-70 162nd St, Jamaica | 718-291-7400 | English |
Agency list as shown on HPD’s site as of October 2026.
2. Take the homebuyer education class and get your certificate
You must finish a homebuyer education course taught by an HPD-approved agency. When you complete it, you receive a certificate. Keep it; your lender and NHSNYC will ask for it.
3. Get pre-approved with a participating lender
HomeFirst only works with private financing from an HPD-approved participating lender. HPD publishes the list on its HomeFirst page. Bring your certificate to the lender and get pre-approved before you shop. See our get pre-approved page, and if rates worry you, read our playbook for buying with rates above 7%.
4. Find the home, hire an attorney, sign the contract and close
With pre-approval in hand, work with a real estate agent to find a home under the Queens price limit. Then hire a real estate attorney and negotiate the contract of sale. The home must pass the HQS inspection. NHSNYC reviews your contract, verifies the property and your eligibility, reserves the funds and releases them at closing. For a full list of documents, see what you need to buy a home in Queens.
HomeFirst, Co-op Boards and Closing Costs
HomeFirst can be used on co-ops, but the program does not replace the co-op’s own process. You still need board approval, and many buildings set their own minimum down payment and financial requirements, which can be stricter than the program’s 3%. Read co-op board approval in Queens before you make an offer.
Because HomeFirst can go toward closing costs as well as the down payment, it helps to know what those costs look like. Our guide to closing costs in Queens explains what buyers usually pay at the table.
Worked Example (Illustrative Only)
This is a hypothetical example, not an offer or a promise of approval.
Say a two-person household earning under $162,840 buys a $500,000 condo in Queens:
- 20% of the price is $100,000, so the HomeFirst loan could be up to $100,000.
- The buyer still needs at least 3% of their own funds: $15,000.
- Because the loan is over $40,000, the buyer would need to live there at least 15 years for it to be forgiven.
- The price is under the Queens 1-unit limit of $699,000, and the condo must pass HQS inspection.
The actual amount depends on HPD’s review, the lender’s underwriting and the purchase price.
HomeFirst Queens FAQ
What is HomeFirst?
HomeFirst is NYC HPD’s program that gives qualified first-time buyers a forgivable loan of up to $100,000 toward the down payment or closing costs. It works for 1-4 family homes, condos and co-ops in all five boroughs, including Queens.
How much can I get from HomeFirst?
Up to $100,000, but no more than 20% of the purchase price, whichever is lower.
What are the 2026 HomeFirst income limits?
Household income up to 120% of AMI: for example, $142,560 for one person and $203,520 for a family of four, as listed by HPD as of October 2026. See the full table above.
What’s the maximum HomeFirst price in Queens?
For existing homes: $699,000 (1-unit), $894,000 (2-unit), $1,083,000 (3-unit) and $1,342,000 (4-unit), as of October 2026.
Do I have to repay HomeFirst?
It is forgivable if you live in the home as your primary residence for the full term: 10 years for loans up to $40,000 and 15 years above that. City-funded loans are 15 years regardless of amount.
Do I need my own money?
Yes. You need at least 3% of the purchase price from your own funds.
Who counts as a first-time buyer?
Someone who hasn’t owned a home in the past three years.
Can I use HomeFirst on a co-op?
Yes, co-ops are eligible, but you still need co-op board approval and must meet the building’s own down payment rules.
Can I buy a 2-family and rent the other unit?
Yes. You may rent the units you don’t live in, but you can’t rent your own unit.
How do I apply for HomeFirst?
Start with an HPD-approved housing counseling agency. Take the homebuyer education class, get your certificate, then get pre-approved with a participating lender.
Can my parents co-sign, or can I buy from a relative?
No to both. Non-occupying co-signers aren’t allowed, and purchases from relatives are excluded.
Is there HomeFirst help in Spanish in Queens?
Yes. HPD lists NHS of Queens (Woodside) and Margert Community Corporation (Far Rockaway) as offering English and Spanish. Alejandra and Elias also work with buyers in Spanish.
Is there other down payment help besides HomeFirst?
Yes. SONYMA’s DPAL Plus 2026 offers up to $30,000 at 0% interest for eligible first-time buyers statewide, but funding is limited and first-come, first-served.
Talk to Alejandra & Elias
Thinking about HomeFirst? Book a free first-time buyer call with Alejandra & Elias, in English or Spanish. We can help you plan your search around the program’s rules and connect the steps with your counseling agency, lender and attorney.
Find homes under the Queens HomeFirst price limits, or call 917.554.0546. Office: 98-05 Astoria Blvd, East Elmhurst, NY 11369. Learn more about working with a first-time homebuyer agent in Queens.
Eligibility for HomeFirst is decided by HPD and its approved counseling agencies, not by your real estate agent. Program details are as listed on HPD’s site as of October 2026 and can change; check the HPD HomeFirst page and the HomeFirst term sheet for current rules.
