Making Home Ownership a Reality
This program is administered by the Long Island Housing Partnership in coordination with the Office of Housing and Homeless Services - Housing Counseling Center. The Housing Partnership will leverage HOME funds with New York State funds for the county employer assisted housing program. The Employer Assisted Housing program includes over 117 participating employers on Long Island. The County's American Dream Payment Initiative Funds are being allocated to this program.
The "American Dream" of home ownership is now a reality for first time Nassau County homebuyers. The Long Island Housing Partnership, as agent for Nassau County Office of Housing and Intergovernmental Affairs, is accepting applications from first time Nassau County homebuyers for down payment / closing cost assistance toward the purchase of a principal residence. The Down Payment Assistance amount is up to $25,000 plus up to $10,000 towards repairs to rehabilitate the newly purchased home.
Under provisions of a federally funded program, Nassau County will provide eligible first-time homebuyers with up to $25,000 towards down payment / closing costs provided that the applicant puts a minimum down payment of at least 3% of purchase price. Homes purchased must be pre-existing or a newly constructed residences located within the boundaries of Nassau County. They must be single-family dwellings (includes townhouses, condominiums, co-operative apartments and manufactured homes) occupied as a principal residence. The appraised value of a HOME assisted property to be acquired by a first-time homeowner must not exceed the limit on the value of a single-family unit, which is $410,000.