Homebuyer Counseling and
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Learn About Different Down Payment and Closing Cost Assistance Programs

Down payment assistance programs specifically designed for “first-time home buyers”

A WRO homeownership counselor can help identify if one of the following programs make sense for you.

  • Individual Development Accounts

WRO offers Individual Development Accounts (IDA), another way of saving money to buy a home. WRO or a participating bank matches funds saved by the individual. Financial literacy training as well as homebuying counseling are required.

  • The First Home Club

First Home Clubs provides a 4-1 match to help build savings for down payment and closing cost assistance. Members of the First Home Club who save on a consistent basis can qualify for matching funds of up to $7,500 from a participating bank. Club members are required to receive 8-10 hours of individual and group homebuying counseling. *Bank Applications are ONLY provided during intake appointment.

Click Income Guidelines to see if you are eligible based on your income.

  • American Dream Down Payment Initiative (ADDI)

This grant is offered for the assistance with purchasing a property located in an indented consortium community. The grant allows you to receive assistance of $10,000 or 6% of the sale price (whichever is less). Applicants interested in this grant would need to meet HUD’s 80% AMI guidelines for Westchester County. *Resale provisions apply.

Click to preview the list of Consortium Communities.

Download ADDI Application  

  • “Home of Your Own” loan program through M&T Bank & NYS Dept. of Mental Health.

This program is offered through the New York State Office of Mental Health. The program allows an individual to finance a SONYMA loan at 100% with an interest rate of 4%. Closing cost assistance is provided and can even potentially receive additional assistance for attorney’s fees and engineering. Approval is based on at least one household member, over the age of 18, having an Axis 1 diagnosis and applicant must have good credit history. Approval through New York State Office of Mental Health is REQUIRED in addition to completing Homebuyer education.
Download NYS OMH Application  

  • Homeownership Voucher program (Section 8)

Individuals enrolled in the Family Self Sufficiency (FSS) program through section 8 are able to take advantage of a 15 year subsidy towards their mortgage. Individuals must meet minimum income criteria, and be in good standing with section 8. Homebuyer education is also REQUIRED.

Please call for an appointment
Phone: (914) 428-4507 x303
Fax: (914) 428-9455
E-mail: Homebuying@wroinc.org