breaking down cost barriers

SmartMove New York helps first time homebuyers overcome the obstacles of downpayment and closing costs. Participating homebuyers may be able to put down as little as 1% of the purchase price because of SmartMove New York’s low interest loans!

Check out our SmartMove guidelines to find out if this program will work for you!

 

check your eligibility

If you have a specific question about this program, please select “Residential Lending” on our contact form and we will get in touch with you via email.

A full list of HDF’s available downpayment assistance programs can be found here.

 

Terms and conditions

SmartMove is a 3% (APR = 3.42% to 4.74%) second mortgage for up 20% of the purchase price. There is an origination fee of 3.75% for SmartMove New York borrowers, paid at closing. SmartMove New York 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).

Lender License Number ML840392

HDF NMLS#840392

 

Approved Lenders

When you take advantage of SmartMove, your first mortgage needs to be provided by a bank who has chosen to participate in the program. Before applying, please check the list of lenders below to check your eligibility.

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