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Yonkers, NY launches DPA of up to 19% of the price

Published · Homebuyer update · By the DPA Finder editorial team

Yonkers, New York's new Own in Yonkers program offers eligible first-time buyers up to 19% of the purchase price as a 0% deferred loan forgiven after five years.

The City of Yonkers, New York has launched Own in Yonkers, a First-Time Homebuyer Down Payment Assistance Program run in partnership with Westchester Residential Opportunities (WRO), a HUD-approved housing counseling agency. Mayor Mike Spano announced the program in October 2026.

According to the program site, eligible buyers can receive up to 19% of the purchase price toward their down payment. The help is a zero-interest, deferred-payment loan secured by a subordinate mortgage, with no monthly payments, and it is forgiven after five years if the buyer meets all program requirements. Award amounts are set through underwriting and depend on available funding, and closing costs are not covered.

Household income must be at or below 120% of area median income, which the city lists as $142,450 for one person and $203,550 for a household of four. Buyers also need a Yonkers connection: living in Yonkers for at least 12 months, being the child of a qualifying resident, or owning and operating a business based in the city. They must qualify for a mortgage, complete HUD-approved homebuyer education and counseling, put in at least 1% of the price from their own funds, live in the home, and get program approval before signing a contract of sale. Single-family homes, condos and co-ops can qualify.

The application opens after the first information session on November 9, 2026. The city says the November 9 session and the November 12 English virtual session are full, and it has added sessions on November 16 (in person) and November 19 (online). See the Own in Yonkers listing. For statewide options you could pair or compare, see our New York page, the SONYMA Down Payment Assistance Loan, or read about forgivable down payment loans.

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