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SmartMove New York

Low interest downpayment assistance to help NY families buy homes they can afford.

SmartMove helps first time homebuyers in New York State purchase homes by providing a low-interest loan that can be used for downpayment. This allows you to put down as little as 1% of the purchase price towards the purchase of their home, avoid mortgage insurance, and benefit from lower mortgage payments.

 

Terms

SmartMove is a 3% (APR = 3.42% to 4.74%) second mortgage for up 20% of the purchase price. There is a service fee of 3.75%, paid at closing. SmartMove loans can be combined with HDF’s other downpayment assistance programs to increase your downpayment and cover closing costs. You must spend down to $25,000 in liquid assets before closing, which does not include retirement savings/ 401(k). HDF NMLS#840392.

 

Eligibilty

SmartMove borrowers should be fall within our income guidelines, purchase within HDF’s service area, and complete first-time homebuyer counseling and education with HDF or one of our partner counseling agencies.

Click here to find out more about our first time homebuyer program and start your journey on our online client portal, HDF Compass.

Click here to view our service area map with income limits and partner agencies.

 

Approved First Mortgage Lenders

When you take advantage of SmartMove, your first mortgage needs to be provided by a bank who has chosen to participate in SmartMove.

Participating First Mortgage Lenders

    Citibank
    M&T Bank
    People’s United Bank
    Webster Bank