State Buyer Programs

First-Time Home Buyer
Programs in New York

Down payment assistance, transfer tax rates, and what to expect at closing when buying your first home in New York.

New York First-Time Buyer Overview

State Housing Agency
New York State Homes and Community Renewal (HCR) / SONYMA →

Your state's HFA is the primary source for below-market mortgages and down payment assistance programs.

Down Payment Assistance Programs
SONYMA Low Interest Rate Program
Below-market rate; Down Payment Assistance Loan up to 3% of purchase price

Income limits vary by household size and county. NYC buyers face separate limits.

Learn more →
SONYMA Achieving the Dream
Lowest available rates for low-income buyers; DPA up to 3%

Stricter income limits; targeted to lower-income first-time buyers.

Learn more →
Transfer Tax Rate
0.4% (state) + local taxes vary significantly

New York State Real Estate Transfer Tax is $4 per $1,000 (0.4%). NYC adds its own Mansion Tax (1% for $1M+) and NYC Transfer Tax (1%–2.625%). Upstate is much cheaper.

Attorney Required at Closing?
Yes — attorney state

New York is an attorney-state. Attorneys are required for both buyer and seller. This is standard practice for all transactions.

Tools for Buying Your First Home in New York

Pre-approval, inspection, insurance, and moving — the same trusted tools, relevant wherever you're buying in New York.

Get Pre-Approved

Our Pick
Better Mortgage
Online pre-approval in minutes

Get a real pre-approval letter in about 3 minutes with no origination fee and no commission-hungry loan officer. Fully online — you won't get pressured into a bigger loan.

Get Pre-Approved →
Credible
Compare rates from multiple lenders

See real mortgage rates from multiple lenders side by side without your credit score taking a hit. Takes 3 minutes and you don't have to commit to anything.

Compare Rates →

Home Inspection

Inspectify
Book a licensed inspector online

Never skip the inspection. Inspectify lets you book a certified home inspector in your area in seconds. Digital reports, same-day availability in most markets.

Book an Inspection →

Home Insurance

Lemonade
Instant homeowners insurance quotes

Get a homeowners insurance quote in 90 seconds. Lemonade uses AI to underwrite policies faster than any traditional insurer — and claims are often paid in minutes.

Get a Quote →

Home Warranty

American Home Shield
Coverage for systems and appliances

When the HVAC dies three weeks after closing, you'll be glad you have a home warranty. AHS covers major systems like HVAC, plumbing, and electrical — plus appliances.

View Plans →

Moving

Moving.com
Compare moving company quotes

Get quotes from licensed movers in your area. Moving.com vets companies for licensing and insurance so you're not handing your stuff to a random guy with a truck.

Get Moving Quotes →

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