OCT212026
IN PERSON
Riverfront Library
- English
- 5:30–6:30 p.m.
- Español
- 6:30–7:30 p.m.
FIRST-TIME HOMEBUYER PROGRAM
Your first home.Your future
in Yonkers.
Help with your down payment. A place to call your own.
The City of Yonkers is helping eligible first-time homebuyers purchase a primary residence through its Down Payment Assistance Program.
In partnership with Westchester Residential Opportunities (WRO)
Explore information sessions
Make your home in Yonkers.Up to 19%of the purchase price toward your down payment*
0% interestDeferred loan with no monthly payments
5 yearsLoan forgiveness with continued program compliance
*Assistance is determined through underwriting and is subject to funding availability. Closing costs are not covered.
A MESSAGE FROM THE MAYOR
A home in the City
we call our own.
Dear Neighbors,
For many families, saving for a down payment is one of the biggest challenges to buying a first home. We want to help more people who have a connection to Yonkers make that purchase here in our City.
Our First-Time Homebuyer Down Payment Assistance Program is designed to help eligible buyers take that step. Along with financial assistance toward a down payment, the program requires homebuyer counseling so applicants can better understand the responsibilities that come with owning a home.
I encourage you to read through the information on this page and join one of our upcoming information sessions. It’s an opportunity to ask questions, learn about the requirements and see whether the program may be right for you.
We want our families to have a future here in Yonkers. Helping them become homeowners is one way we can support that future.
Sincerely,Mike SpanoMayor, City of Yonkers
OUR PROGRAM PARTNER
The City of Yonkers
+ WRO
Westchester Residential Opportunities, Inc.
The City is partnering with Westchester Residential Opportunities (WRO), a HUD-approved housing counseling agency, to help applicants through the homebuying process.
WRO provides homebuyer counseling, helps applicants complete their applications, and coordinates the process through closing. The City reviews eligibility and approves assistance.
WRO does not charge fees to program applicants.
WHO CAN APPLY
A path to
homeownership.
You must qualify as a first-time homebuyer, meet the program’s income and mortgage requirements, and purchase a home in Yonkers.
Income eligibility
Income limits depend on your household size and the funding available. Different funding sources serve households at different income levels. WRO will help review your household income and identify which assistance you may qualify for.
Your connection to Yonkers
You must meet one of these criteria:
- You live in Yonkers.You have been a permanent resident for at least 12 months.
- Your parent lives in Yonkers.You are the child of a current resident who meets the 12-month residency requirement.
- You own and operate a Yonkers business.Your business is principally managed and operated in the city.
You will also need to
- Qualify for a mortgage.
- Complete HUD-approved homebuyer counseling.
- Contribute at least 1% of the purchase price from your own funds toward the down payment.
- Use the purchased home as your primary residence.
- Receive program participation approval before signing a contract of sale.
START WITH INFORMATION
Let’s talk about
your first home.
Join an information session to learn about the program and the steps toward homeownership. English and Spanish sessions are offered separately.
OCT282026
ONLINE
Virtual information session
- English
- 5:30–6:30 p.m.
- Español
- 6:30–7:30 p.m.
All times Eastern. Registration details and the virtual meeting link will be added here.
HOW IT WORKS
From the first question
to the front door.
- 01
Get informed
Explore the program and attend an information session. Complete the required one-on-one homebuyer counseling.
- 02
Apply and qualify
Work with WRO to complete your application and gather the required documents. The City reviews eligibility and approves assistance, subject to available funding.
- 03
Find your home
Upon qualifying, receive program participation approval valid for 90 days and look for an eligible home in Yonkers.
- 04
Close and move in
Following property approval and final underwriting, continue to work with WRO through closing. Maintain the home as your primary residence during the five-year compliance period.
Before you sign: You must receive program participation approval before entering into a contract of sale.
TAKE THE NEXT STEP
Prepare your application.
Complete the form in English or Spanish, or download a fillable PDF. WRO will help you understand the requirements.
A FEW THINGS TO KNOW
Your questions,
answered.
What types of homes are eligible?
Existing or newly constructed single-family homes, condominiums and cooperative apartments in Yonkers may qualify. The property must meet program standards and be your primary residence. The purchase cannot displace an existing tenant.
Does the program pay closing costs?
No. Program assistance is for the down payment. You will need to plan separately for closing costs.
Will I have to repay the assistance?
The assistance is a zero-interest, deferred-payment loan secured by a subordinate mortgage. It is forgiven after five years if you comply with all program requirements. Selling, transferring the property or failing to meet program requirements during that period may require repayment.
Does attending a session count as counseling?
The launch sessions introduce the program. Applicants must also complete the required HUD-approved homebuyer counseling and provide a completion certificate.
How do I apply?
Visit the Apply section to complete the form in English or Spanish or download a fillable PDF. Print and sign your application, gather the required documents, and follow the WRO submission instructions. Online submission is not yet available.