Farmingville, NY - The Town of Brookhaven, in collaboration with the Long Island Housing Partnership, is set to launch its highly anticipated 2023 Down Payment Assistance Program for First-Time Homebuyers on Monday, October 2. This initiative, spearheaded by Supervisor Ed Romaine and supported by members of the Town Council and the Department of Housing and Community Development, aims to empower eligible first-time homebuyers with a substantial financial boost toward achieving homeownership.
Under this program, qualified first-time homebuyers have the opportunity to receive up to $39,000 in financial assistance for down payments and closing costs associated with the purchase of a new or existing single-family home. However, to qualify for this valuable support, applicants must meet all the specified program requirements, including the successful securing of a mortgage. Additionally, participants are obliged to make the purchased property their primary residence for a minimum of 10 years, as mandated by the United States (US) Department of Housing and Urban Development. Failure to meet this requirement may result in a full repayment of the HOME Investment Partnership Program down payment assistance.
The funding for this program is made possible through the U.S. Department of Housing and Urban Development, demonstrating the commitment of federal resources to support the dream of homeownership for individuals and families in the Brookhaven community.
Interested individuals can access the program application online at BrookhavenNY.gov/DownPayment. For further details or inquiries, residents are encouraged to contact the Long Island Housing Partnership at 631-435-4710 and inquire about the Brookhaven Town HOME Down Payment Assistance Program.
This initiative represents a significant step towards enhancing housing accessibility for first-time buyers in the Town of Brookhaven, underscoring the municipality's dedication to fostering homeownership and bolstering community development. Don't miss this opportunity to turn the dream of owning a home into a reality.