Affordable Housing for Veterans

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Whether you are renting or currently homeowning, each veteran should have access to affordable housing options. The following list of federal, state, and city programs are a limited, but selective list of affordable housing options for veterans seeking financial relief for their housing arrangements. For veterans who are currently experiencing homelessness, are seeking immediate shelter, or may be seeking additional housing support, please refer to the Veteran Housing Ladder for a more extensive list of programs that range from temporary housing to emergency financial assistance.

Connect to housing services by filling out the VetConnectNYC form and selecting "Housing and Shelter" as your preferred service:

Request Services on VetConnectNYC

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You are a Veteran seeking a rental unit

New York City Housing Connect (HPD)

The New York City Housing Connect Program is an affordable housing portal which provides rentals and sales in all five boroughs. Housing options are offered through a lottery system. To qualify, your household must meet the household income and size requirement for a unit in the affordable development. All of the units offered through NYC Housing Connect are financed by the NYC Department of Housing Preservation & Development (HPD) and/or the Housing Development Corporation (HDC). Thus, units are not only affordable, but their rents raise at a steady and slow rate.

Learn more about the NYC Housing Connect program and apply today here. You can also visit NYC Housing Connect's 'Learn' page for a series of instructional videos that walk you through every step of the application process.

Eligibility

There are no uniform eligible requirements. There are household income and size requirements outlined on each specific lottery page, but each lottery has a different household income range and size requirement.

Veteran Preference

Preference, established on a building-by-building case, is given to applicants that meet one or more of the following criteria:

Persons with Mobility, Hearing, and/or Vision Disabilities

Current Community Board Residents (CB)

Municipal Employees

Project-specific Preferences

As part of the agreements set forth for a specific development, additional preferences may apply. Such preferences may include, but are not limited to, preferences for Seniors or Veterans. These preferences are listed in the advertisement for the development.

How to Apply?

Online

In order to apply for NYC Housing Connect lotteries, you must create an account and then visit the open lotteries list.

Mail

You may have a paper application mailed to you. Information on how paper applications can be received and where complete applications must be sent are available in the details of any open lottery.
Per the expectation of NYC Housing Connect, you many only submit one application per household. You will be disqualified if more than one application is received per lottery for your household. If you submit an application online, you may NOT submit an application via mail. If you submit an application via mail, you may NOT submit an application online.

HDC Re-Rentals

The Housing Development Corporation (HDC) finances affordable rental properties reserved for households that meet certain income restrictions, commonly referred to as either low-income or middle-income. HDC provides an updated list of re-rental units, affordable housing units which have recently been vacated, on their Find webpage. Unlike NYC Housing Connect units, potential renters must request applications to apply.
View the current list of HDC low-income and middle-income re-rentals here.

Eligibility

Similar to NYC Housing Connect, there are specific household income and size requirements for each household; each application has a different household income range and size requirement.

How to Apply?

Applications must be requested via the email provided on each specific application flyer. Mail applications can be requested in the same way, with a request mailing address provided.

Mitchell-Lama (City, HPD)

The Mitchell-Lama Housing Program provides affordable rental and cooperative housing to moderate- and middle-income families. There are two separate Mitchell-Lama program at the city and state level. For both city and state Mitchell-Lama programs, applicants will need to apply to a development separately, but you cannot apply to more than one development at a time. Mitchell-Lama apartments are sold or rented through waiting lists kept by each development. Mitchell-Lama in New York City is administered by the Department of Housing Preservation & Development (HDP).

Learn more about HPD’s Mitchell-Lama program here.

Eligibility

Determined on a case-by-case basis

All Mitchell-Lama developments will have different eligibility requirements based on income limits, family size, and apartment size.

Veteran Preference

Veterans residing in New York State may be entitled to a preference for Mitchell-Lama developments with an open waiting list.

S.2372/A.1084 requires that the number of applicants applying as veterans, or a surviving spouse of a veteran, be made available on the Mitchell-Lama application waitlist so that those applying have a clear indication of whether there are other veterans applying for the same housing.

How to Apply:

Online

In order to apply for NYC Mitchell-Lama, you must create an account and apply through Mitchell-Lama Connect.

Mail

You will need to mail a post card to the address and specific P.O. box assigned to each individual unit size (i.e. if you are applying for a studio, the P.O. box will be different from a one-bedroom).

Mitchell-Lama (State, HCR)

The Mitchell-Lama Housing Program provides affordable rental and cooperative housing to moderate- and middle-income families. There are two separate Mitchell-Lama program at the city and state level. For both city and state Mitchell-Lama programs, applicants will need to apply to a development separately, but you cannot apply to more than one development at a time. Mitchell-Lama apartments are sold or rented through waiting lists kept by each development. Mitchell-Lama in New York State is administered by the Department of Housing Community Renewal (HCR).

Learn more about HPD’s Mitchell-Lama program here.

Eligibility:

Determined on a case-by-case basis

All Mitchell-Lama developments will have different eligibility requirements based on income limits, family size, and apartment size.

Veteran Preference

As of 2010: under the amended Section 31 of the Private Housing Finance Law, veterans admissions preference is given to all veterans, or their surviving spouses, who served on active duty in time of war, as defined in Section 85 of the Civil Service Law, and reside in New York State.

How to Apply:

In order to apply for Mitchell-Lama at the state level, you must look through the current lists of open waitlists and email or call the development to request an application.

Active Waiting Lists:

State Supervised Middle Income Housing Developments for Families

State Supervised Middle Income Housing Developments for Senior Citizens

You are a Veteran first-time homebuyer

VA-Backed Purchase Home Loan

The VA Purchase Loan offer competitive interest rates for veterans seeking down payment assistance to build, buy or improve a home. VA’s Purchase Loan is a VA-Backed Home Loan which means the U.S. Department of Veterans Affairs provides a VA guaranty that ensures lenders receive some or all losses from a potential foreclosure. The Purchase Loan has the following features:

No down payment

Better terms and interest rates than other loans from private banks, mortgage companies, or credit unions (also called lenders)

The ability to borrow up to the Fannie Mae/Freddie Mac conforming loan limit

No need for private mortgage insurance (PMI) or mortgage insurance premiums (MIP)

Fewer closing costs

No penalty fee if you pay the loan off early

Learn more about the VA’s Purchase Loan, including full program features here.

Eligibility

You must apply for a Certificate of Eligibility (VA Form 26-1880) that tells lenders and the VA you qualify for a VA home loan

Further eligibility details must be discussed with the VA and/or your lender

How to apply?

First, to apply for a Certificate of Eligibility, you must:

Determine your eligibility based on how long and when you served

Apply via three methods:

Online

Apply on eBenefits

By mail

Fill out a Request for a Certificate of Eligibility (VA Form 26-1880) and mail it to the address for your regional loan center

Apply through your lender

Second, once you've determined you are financially ready to purchase a home, find a lender (private bank, mortgage company, or credit union) to get a VA Home Loan

For a comprehensive guide on how to buy a home with a VA-backed purchase loan, read more here.

VA Contact Information

Start your home purchasing process today. Share any questions you may have for the VA home loan programs with a home loan representative at 877-827-3702. Their hours are Monday through Friday, 8:00 a.m. to 6:00 p.m. ET.

HomeFirst Down Payment Assistance Program

The HomeFirst Down Payment Assistance Program provides qualified homebuyers with up to $100,000 toward the down payment or closing costs on a 1-4 family home, a condominium, or a cooperative in one of the five boroughs of New York City.

Eligibility
A prospective homebuyer must:

Be a first-time homebuyer

Complete a homebuyer education course taught by an HPD-approved counseling agency

Have their own savings to contribute to the down payment or closing costs

Meet program income eligibility requirements

Make a minimum down payment of 3% of the purchase price towards the home purchase

1% of the contract deposit must be sourced from the buyer's own funds

Purchase a 1-4 unit family home, a condominium, or a cooperative for owner-occupancy in one of the five boroughs of New York City

Pass a Housing Quality Standards (HQS) inspection before purchase

Live in the home for at least:

10 years if the loan received is less than or equal to $40,000

15 years if the loan is greater than $40,000

Have a maximum household income up to 80% AMI available on the HPD website:

1 Family Household -- $74, 800

2 Family Household -- $85, 450

3 Family Household -- $96, 150

4 Family Household -- $106, 800

5 Family Household -- $115, 350

6 Family Household -- $123, 900

7 Family Household -- $132, 450

8 Family Household -- $141, 000

For additional information on how to apply for the HomeFirst Down Payment Assistance Program, please visit the program’s website here.

Homebuyer Dream Program (HDP)

Learn more about the HDP Program here. You can also reach out to a 2023 Homebuyer Dream Program Participation Member to get more information.

The Homebuyer Dream Program (HDP) offers grants up to $10,000 to eligible first-time homebuyers purchasing a home through one of the Federal Home Loan Bank of New York's (FHLBNY) approved community-based, member lenders. The FHLBNY will grant up to $9,500 towards down payment and closing cost assistance to eligible first-time homebuyers. Additionally, the HDP offers up to $500 towards the defrayment of homeownership counseling costs which will be provided for the use of the household via the member to the non-profit counseling agency. The amount of the defrayment will be added to the grant.

Program Requirements

Must be first-time homebuyer (same as First Home Club)

Must be below 80% AMI in the county that the house will be purchased

Must work a minimum of 32 hours

Must have a personal savings of $1000

Income Limit its based on where they intend to purchase, not where they currently reside

Homeownership counseling must be completed prior to applying for the grant

Counseling certification is good for 18 months

If the property is a multi-family, 75% of market rent will be added to income

Non-occupant co-borrower income to be included in the income limit

Program Overview

Minimum equity contribution of $1,000

Minimum equity contribution may be gifted

120-day commitment from date of grant approval

No longer a "matched savings" program

No deposit term required

Program Challenges

First come, first served

Potential to run out of money

Must have purchase contract fully executed prior to reservation request

Graduate to Homeownership

The Graduate to Homeownership Program offers recent college graduates low-interest mortgages, down payment assistance, and homebuyer education resources to purchase their first home in certain upstate New York communities. Graduate to Homeownership is administered by the New York State office Homes and Community Renewal (HCR) through the State of New York Mortgage Agency (SONYMA). Note that to apply to this program the home you are purchasing must be in a select few communities in New York State, including: Capital Region, Central New York, Finger Lakes, Mid-Hudson, Mohawk Valley, North Country, Southern Tier, and Western New York. The program’s features include:

Competitive 30-year fixed interest rates

May be combined with other SONYMA grants and assistance programs, such as:

Down Payment Assistance Loans to help with your down payment

Remodel NY for funds to help with repairs and remodeling

Eligibility

Available for first-time homebuyers who have received an associate, bachelor’s, master’s, or doctoral degree within the past 48 months from an academic program recognized by the U.S. Department of Education

You must have good credit, stable employment, and be able to make monthly mortgage payments

You must occupy the property as your primary residence

Regional income limits apply and vary by county

Learn about Graduate to Homeownership here.

Down Payment Assistance Loan (DPAL)

The Down Payment Assistance Loan helps homeowners pay their down payment assistance and closing costs. If you are required to carry mortgage insurance, a DPAL can be used to cover all or a portion of your premium, which can reduce your monthly mortgage payment significantly. The program’s features include:

0% interest rate

No monthly payments

Forgiven after 10 years

Minimum loan amount: $1,000

Maximum loan amount: 3% of the purchase price (up to $15,000) or $3,000, whichever is highest

Learn more about the Down Payment Assistance Loan here.

Give Us Credit

Interested in applying for a SONYMA Give Us Credit Loan? Contact one of our Participating Lenders for more information or contact us directly for a referral:

Phone: 1-877-726-5570

Email: Giveuscredit@cnycn.org

The Give Us Credit Program qualifies eligible first-time homebuyers by expanding the criteria used to evaluate responsible financial management, increasing eligibility to families and individuals who rely on non-traditional savings and sources of income, and by offering greater flexibility for potential borrowers who have overcome past financial hardships.

You are a Veteran current homeowner

Homes for Veterans

The Homes for Veterans Program offers fixed-rate mortgages with interest rates 0.375% below the already low interest rates charged on SONYMA mortgages with down payment assistance. Homes for Veterans is administered by the New York State office Homes and Community Renewal (HCR) through the State of New York Mortgage Agency (SONYMA). The program’s features include:

No points or origination fees

Interest rates that are 0.375% lower than standard SONYMA interest rates (for loans with down payment assistance)

Down payment assistance up to the greater of $3,000 or 3% of the home purchase price (not to exceed $15,000)

Learn more about Homes for Veterans here.

Eligibility

Eligible Veterans include:

Active-Duty Service members

Veterans who have served in the active military and discharged under conditions other than dishonorable

National Guardsmen and Reservist who are first time homebuyers may qualify if they are:

U.S. military personnel (including those currently serving in the reserves) stationed in New York State, regardless of discharge status)

An active or honorably discharged National Guardsman

An active or honorably discharged Reservist

How to apply?

To apply for a SONYMA loan, you must work with one of SONYMA's participating lenders.

If you live in New York City, please refer to this participating lender list.

VA Backed Interest Rate Reduction Refinance Loan (IRRRL)

The Interest Rate Reduction Refinance Loan (IRRRL) or “streamline” loan is a (U.S. Department of Veterans Affairs) VA-Backed Home Loan which helps current homeowners reduce their monthly mortgage or make your payments more stable. Refinancing lets you replace your current loan with a new one under different terms. The program’s features include:

Lower your monthly mortgage payment by getting you a lower interest rate, or

Make your monthly payments more stable by moving from a loan with an adjustable or variable interest rate (an interest rate that changes over time) to one that’s fixed (the same interest rate over the life of the loan)

Learn more about the VA's Interest Rate Reduction Refinance Loan here.

Eligibility

Eligible Veterans must meet all of the following requirements:

You already have a VA-backed home loan, and

You're using the IRRRL to refinance your existing VA-backed home loan, and

You can certify that you currently live in or used to live in the home covered by the loan

How to apply?

All Veterans applying for VA Home Loans must first:

Determine if their home is covered by the VA (e.g. co-op, renovations, etc.)

To confirm if your home is covered by the VA, contact a VA representative at 877-827-3702. Their hours are Monday through Friday, 8:00 a.m. to 6:00 p.m. ET.

Request a certificate of eligibility (COE)

To determine if you you're eligible for VA home loans, learn more about applying for a COE here

You can request a COE through one of three methods:

Online

Apply on eBenefits

By mail

Fill out a Request for Certificate of Eligibility (VA Form 26-1880) and mail it to the address for your regional loan center; addresses can be found at the bottom of the form

Through your lender

Ask your lender if they can use the online system Web LGY to get your COE

Once you have verified that your home is eligible for a VA home loan and that you have received your COE, continue to work with you VA representative and lender throughout the home buying process.

VA-Backed Cash-out Refinance Loan

The Cash-out Refinance Loan allows veterans to replace a current loan with a new one under different terms. This loan is best for those who either want to take cash out of their home equity or refinance a non-VA loan into VA-backed loan. The program’s features include:

You qualify for a VA-backed home loan Certificate of Eligibility, and

You meet VA's - and your lender's - standards for credit, income, and any other requirements, and

You'll live in the home you're refinancing with the loan

Learn more about the VA's Cash-out Refinance Loan here.

Eligibility

Eligible Veterans meet all of the following requirements:

You already have a VA-backed home loan, and

You're using the IRRRL to refinance your existing VA-backed home loan, and

You can certify that you currently live in or used to live in the home covered by the loan

How to apply?

All Veterans applying for VA Home Loans must first:

Determine if their home is covered by the VA (e.g. co-op, renovations, etc.)

To confirm if your home is covered by the VA, contact a VA representative at 877-827-3702. Their hours are Monday through Friday, 8:00 a.m. to 6:00 p.m. ET.

Request a certificate of eligibility (COE)

To determine if you're eligible for VA home loans, learn more about applying for a COE here

You can request a COE through one of three methods:

Online

Apply on eBenefits

By mail

Fill out a Request for Certificate of Eligibility (VA Form 26-1880) and mail it to the address for your regional loan center; addresses can be found at the bottom of the form

Through your lender

Ask your lender if they can use the online system Web LGY to get your COE

Once you have verified that your home is eligible for a VA home loan and that you have received your COE, continue to work with your VA representative and lender throughout the home buying process.

Organizations in NYC offering Housing-Related Services

Center for NYC Neighborhoods

Call 311 or 646-786-0888 and ask for The Center for NYC Neighborhoods or, Call toll free at 1-855-HOME-456 or, Email: info@cnycn.org

The Center for NYC Neighborhoods (CNYCN) promotes and protects affordable homeownership in New York so that middle- and working-class families can build strong, thriving communities. CNYCN provides the following assistance:

Mortgage Help

Supporting homeowners at risk of missing mortgage payments

Foreclosure Help

Helping homeowners get out of foreclosure

Coastal Assistance

Educating homeowners on how rising sea levels and flood insurance costs can affect homeownership

Scam Prevention

a. Protecting homeowners from common scams

Rehabilitation and Retrofits

a. Partners with programs that help with the cost of rehabs and retrofits

NYC Housing Ambassadors
Find a Housing Ambassador in your borough today.

Looking for affordable housing? The New York City Department of Housing Preservation and Development partners with community-based service providers in New York City who help people prepare and apply for affordable housing, including NYC Housing Connect. Housing Ambassadors can provide information and assistance with the application process. Housing Ambassadors do not provide housing directly, and they cannot guarantee that an applicant will receive an affordable unit through the lottery.

Resources for Veterans in Default and Foreclosure

If you are having trouble making your mortgage payments, have already fallen behind or are in default or foreclosure, act quickly:

If you do not have a VA Direct Home Loan or VA Backed Home Loan, you can:

Communicate to your lender or loan servicer that you need help or,

The New York State Department of Financial Services provides a list of free, non-profit counseling agencies providing services to homeowners in default and foreclosure or,

Contact VA for financial counseling

If you do have a VA Direct Home Loan or VA-Backed Home Loan, you can:

Contact VA for a loan technician (veterans who are 61 days past due are automatically assigned a loan technician)

For default and foreclosure concerns, contact a VA Loan Technician today:

Call 877-827-3702

Email lgylanational.vbaco@va.gov (include the name and address on the loan)