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First-Time Home Buyers
NASSAU COUNTY OFFICE OF COMMUNITY DEVELOPMENT HOME DOWN PAYMENT ASSISTANCE PROGRAM FOR FIRST TIME HOMEBUYERS
NOTICE OF APPLICATION AVAILABILITY AND INTAKE
As part of an ongoing commitment to help make the "American Dream" of home ownership a reality for first time homebuyers who wish to reside in Nassau County, County Executive, Bruce Blakeman announced that the Long Island Housing Partnership (LIHP), as agent for Nassau County Office of Community Development, will be making applications available for first-time homebuyers for down payment/closing cost assistance towards the purchase of a principal residence beginning December 6,2023.
Under provisions of a federally funded program, County Executive Bruce Blakeman has set aside HOME Investment Partnership Funds provided by the U.S. Dept. of Housing and Urban Development (HUD). Nassau County will provide eligible first-time homebuyers with up to $50,000 towards down payment/closing costs towards the purchase of an eligible new or existing single-family home, provided that the applicant puts a minimum down payment of at least $5,000. The applicant must also be able to satisfy the mortgage lender’s minimum down payment requirements and be able to secure a mortgage. Homeowners are required to reside in the home for a minimum of 15 years or HUD will require a full repayment of the grant.
Eligibility Criteria: An Applicant MUST be a:
- First Time Homeowner - defined as a household that has not owned a home during the three-year period immediately prior to the date of application for down payment assistance.
- Household occupying the property as a Principal Residence.
- Income Eligible Household - meaning a household must have a gross annual income not exceeding the income limits for the area as listed below with overtime and assets also taken into consideration.
- Household must attend a mortgage counseling session at LIHP and must be able to secure a mortgage.
Income Guidelines
| Family Size | Maximum Income |
|---|---|
| 1 | $ 86,200 |
| 2 | $ 98,500 |
| 3 | $ 110,800 |
| 4 | $ 123,100 |
| 5 | $ 132,950 |
| 6 | $ 142,800 |
| 7 | $ 152,650 |
| 8 or more | $ 162,500 |
Type of Housing Available: Homes purchased must be eligible pre-existing or newly constructed residences located within the boundaries of Nassau County. They must be single-family dwellings (includes townhouses, condominiums, co-operative apartments and manufactured homes) occupied as a principal residence. The maximum purchase price of a single-family home is $594,000.
No Foreclosures, Short Sales, Bank Owned or Real Estate Owned Properties are permitted in the program.
Applications: Applications will be accepted on a first-come, first-served basis. Applications and program guidelines are available online beginning on December 6, 2023 at the Long Island Housing Partnership, Inc. website: www.lihp.org or by calling the Long Island Housing Partnership, Inc. at (631) 435-4710, or by visiting the LIHP’s office at 180 Oser Avenue, Hauppauge, NY Monday to Friday between the hours of 9 A.M. and 5 P.M.
- Online and hand-delivered applications must be received by 5pm on March 6, 2024. Applications submitted by mail must be postmarked by March 6, 2024.
Fair Housing Laws will be followed.
The LIHP staff is available to assist with the application, and answer questions about eligibility requirements. We also provide free mortgage counseling. If you have any questions regarding the guidelines or need language assistance including translation and/or oral interpretation services, please call the Long Island Housing Partnership at (631) 435-4710 before applying.