New Rochelle Down Payment Assistance: Up to 19% for Eligible Buyers
New Rochelle’s down payment assistance program offers eligible first-time buyers up to 19% of the purchase price, capped at $125,590 under the posted 2026 guidelines. It is a zero-interest, deferred loan with conditional forgiveness after five years. Approval, underwriting and available funds determine the actual assistance.
Official materials reviewed October 31, 2026. Confirm current requirements and funding with the City or Westchester Residential Opportunities (WRO) before acting.
Who should look into the program?
The program is for an eligible primary home within the City of New Rochelle. Applicants need a qualifying connection: current residency for at least 12 months, qualifying work or business ownership in the city, or former residency for at least two years. The website overview mentions two years of work, while its eligibility section and posted PDFs describe qualifying full-time, city-based employment without repeating that duration. Ask WRO to resolve the work-history requirement for your situation.
The posted first-time buyer definition generally looks at ownership during the previous three years; the materials describe a waiver for qualifying honorably served U.S. military veterans. A city connection alone does not establish eligibility.
Income and your own contribution
The 2026 materials require at least $40,000 in documented annual household income and apply maximum household income limits at 80% of area median income. The posted limits are:
| Household size | Maximum annual income |
|---|---|
| 1 | $88,100 |
| 2 | $100,700 |
| 3 | $113,300 |
| 4 | $125,850 |
| 5 | $135,950 |
| 6 | $146,000 |
Buyers contribute at least 1% of the purchase price from their own funds toward the down payment. Closing costs are separate; this program does not fund them. Mortgage qualification is still required.
Which homes and which limits?
Eligible housing may include a single-family house, condominium or co-op used as the buyer’s primary residence. The published existing-home value limit is $661,000. The fact sheet separately lists $840,000 for new construction, while the linked property-value update states $661,000 without that distinction. Get written confirmation of the applicable limit before relying on a new-construction price. Properties must pass required inspections and cannot displace existing tenants.
The step to take before signing a contract
Complete the required counseling, apply through the official process and receive a Purchaser Certificate before entering a contract of sale. Certificates generally give eligible applicants 90 days to submit an executed contract. Funding is limited, and an application or certificate does not guarantee a closing award.
What does five-year forgiveness mean?
Recipients must meet the loan’s five-year occupancy and other conditions. Selling, transferring or renting the property early can trigger repayment. Annual compliance checks apply. Have your attorney review the note, security documents and repayment terms before signing.
Start with the official application
Get the application and full requirements from New Rochelle’s official program page. WRO can answer program questions at 914-428-4507. Send financial records through official application channels.
RxP can help coordinate your property search and buying timeline. Explore our New Rochelle guide, request the RxP buyer’s guide, or book a conversation with Felix or Aneury. City/WRO approval is separate; working with RxP is not a program requirement.
Official sources
- Program overview and application
- Posted 2026 program guidelines
- Expanded-program fact sheet
- 2026 income and property-value update
Educational information, not a lending commitment or eligibility determination. Terms and funding may change. RxP is independent of the City and WRO. Real Broker NY, LLC — Licensed Real Estate Broker. Equal Housing Opportunity. Brokerage and state disclosures.
