First-Time Homebuyers Assistance Program

City of Buffalo First Time Homebuyers Program:

First-Time Homebuyers Down Payment Closing Cost Assistance Program:

Were excited to report The City of Buffalo has funds to help first-time homebuyers with their down payment and closing costs up to $10,000.00. This is a 0% interest, deferred & and forgivable loan “conditional grant”  that must be paid back in full if you sell or vacate your home within five years of purchase.

Eligibility Requirements:

  • Purchase must be within the City of Buffalo
  • Must be a one-family or two-family home located in the City of Buffalo  that is in generally good condition with no major housing code violations or lead based paint hazards
  • You must be a first-time homebuyer and the home must be your primary residence
  • Must meet the HUD Household Income guidelines
  • Your income must fall between 50% – 80% of the HUD Income Guidelines
  • You Must qualify for a mortgage loan with an approved financial institution
  • You must remain in the home for five years or repay the loan in full
  • You must take a FREE Homebuyer Educational Course   (Belmont Housing Resources, Buffalo Urban League)

City of Buffalo Down Payment Closing Cost Assistance 2023-2024 Program Guidelines:

2023 DPCC Program Guidelines

Household Income of no less than 50% and no more than 80% of the area median income, based on family size  (see household income guidelines below)*

HUD Household Income Guidelines:

Household Size / Gross Annual Income (50-80% of AMI):

1 / $32,500 – $52,000

2 / $37,150 – $59,400

3 / $41,800 – $66,850

4 / $46,400 – $74,250

5 / $50,180 – $80,200

6 / $53.850 – $86,150

7 / $57,550 – $92,100

8 / $61,250 – $98,050

*These income guidelines are based on the HUD 2023-2024 Household Income guidelines are subject to change

*Funds are provided by the City of Buffalo Owner Occupied Housing Assistance Programs  through New York State Office of Homes and Community Renewal (HCR)/Affordable Housing Corporation (AHC), City of Buffalo Mayors Office of Strategic Planning and Buffalo Urban Renewal Agency (BURA)