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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.


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.


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.

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


         M&T Bank 

         People’s United Bank 

         Webster Bank


PROGRAM Materials

Printable materials about this downpayment opportunity.