HomeAssist helps make homeownership more attainable by easing the upfront costs for income eligible buyers. Through the Federal Home Loan Bank of New York’s (FHLBNY) MAP® program, qualified borrowers could receive up to $12,000 in grant funding toward down payment and closing costs on a primary residence, with no repayment requirement.
HomeAssist is being made available on a first-come, first-serve basis. It provides mortgage assistance to reduce upfront homeownership costs for eligible borrowers.
Getting Started
Speak with an ESL Mortgage Originator
Please reach out to an ESL Business Development Mortgage Originator (585.336.1502), they will assist you by verifying HomeAssist eligibility, getting you prequalified or by submitting an application
Eligibility Requirements
To qualify for this grant, you must meet the following requirements:
- Must be an ESL member to participate.
- Must be at least 18 years of age.
- Qualify for an eligible conventional fixed rate mortgage.
- Eligible properties include primary residence single-family homes, condominiums, modular homes, and Planned Unit Developments (PUDs).
- Minimum credit score of 660.
- Maximum loan-to-value (LTV) of 95% and Total LTV with affordable secondary financing up to 105%.
- Cash back at closing cannot exceed $250.
- Only available with 45 Day Rate Lock commitments.
Income Limits & Mortgage Eligible Counties
The property must be located in one of the following counties within the State of New York and the borrower(s) income cannot exceed 80% of the area median income (AMI) which varies by county. Maximum income limits and eligible counties within the State of New York are as follows:
