What Is The East Buffalo Down Payment Assistance Plus Program

In early August 2022, New York Governor Hochul announced a series of new programs that were designed to help improve the lives of people who live in East Buffalo, a neighborhood that had been systematically neglected by local, county, and state officials for decades.

The new East Buffalo Down Payment Assistance Plus Program is now available to people who live in certain neighborhoods in Buffalo to help provide additional financial resources when people are looking to purchase a home.

The program itself will provide up to $30,000 in down payment and/or closing costs assistance to homebuyers looking to buy a single-family home, a 2-4 unit family home, a condominium unit, or a coop unit in Western New York.

Individuals and families who qualify will be given these funds as a conditional loan. The loan has no monthly payments and comes with a 0% interest rate. If the applicant stays in the house for at least 10 years, the loan is fully forgiven. If the applicant moves out of the house, or sells it, before the 10 years expire, then they have to pay a pro-rated portion of the loan back to New York State.

There are some income limits for this program. Individuals and families must have an annual household income that is equal to or less than 60% of the Area Median Income. In the Buffalo/Niagara region, for a family of 3 or more, that amounts to an income of less than $73,160 per year.

In addition to the income guidelines, you also have to be a current resident of Buffalo and reside in one of the following zip codes: 14204, 14206, 14208, 14209, 14210, 14211, 14212, 14214, and 14215.

The EBDPAL+ Program is specially designed to help build homeownership opportunities on Buffalo's eastside. There are local banks and non-profit organizations in Buffalo that are ready to assist those who are interested in this program.

For more information, or to begin to apply, you can find additional details on the NYS EBDPAL+ Program website right here.