The City of New York supports those who are interested in buying an apartment or house in the city with an assistance program of up to $100,000.
The program is called HomeFirst and consists of an interest-free loan with a term of up to 15 years for all those who qualify and are looking to buy a house or apartment for the first time.
This loan is easy to access and requires, and those interested will be able to buy a house or apartment with up to 4 rooms in the city. One of the qualities is that the credit is 0% interest during the term you choose and the beneficiaries qualify.
Those interested must take a homebuyer education course, these courses are taught by counseling agencies certified by the housing department. In addition, you will need to have your own savings to complete the down payment on the house or the closing costs of the negotiation as required.
Among the requirements posed by HomeFirst, is that interested parties must have at least 3% of the total purchase price and 1% of the deposit for the contract.
As part of the agreement, the beneficiaries must live for at least 10 years for loans equal to or less than $40,000 and 15 years if it exceeds the aforementioned amount.
If you are interested in the program, you can consult the following link:https://www.nyc.gov/site/hpd/services-and-information/homefirst-down-payment-assistance-program.page
Source: NYC.GOV
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By Veny West | Twitter
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