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Down payment help available to first-time homebuyers

First-time homebuyers looking to purchase a home here can get up to $35,000 in down payment assistance, thanks to grants from Community Housing Innovations. 

The money is part of a $1 million contract the nonprofit agency has with the New York State Affordable Housing Corporation, according to a CHI statement.  

The funding is targeted to families with annual incomes of up to about $113,000, adjusted up or down based on family size.  

To qualify for the free assistance, applicants must attend a free orientation, have a pre-approval letter from a bank, and be ready to buy within two months of receiving a grant certificate. 

“The pandemic has seen prices increase all over Long Island, making it even less affordable for working families,” said Alexander Roberts of Community Housing Innovations. “This down payment assistance certainly comes at the right time.” 

Since 1997, CHI has provided more than $17 million in down payment assistance grants on Long Island and in Westchester County, making the dream of homeownership possible for 750 first-time homebuyers. 

“As a HUD-certified Housing Counseling Agency, we provide homebuyer education to whoever wants it,” said CHI Home Ownership Director Julie Stern. “But the state down payment assistance is targeted to serious homebuyers financially capable of buying now.” 

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