All articles about New York First-Time Home Buyer Guide.
StreetEasy, the SONYMA website, and Reddit threads are the default starting points for NYC first-time buyers. Here's what each delivers — and where the expensive gaps are.
NYC co-op boards can reject you without explanation after months of waiting. The best guide for first-time co-op buyers covers liquidity, DTI, board packages, and building due diligence.
Westchester and Long Island property taxes run $15,000–$20,000/year. At closing, lenders require six months prepaid into escrow — adding $7,500–$10,000 that no generic calculator includes.
How the NYC co-op board approval process works, what board interview questions to expect, and how to prepare a board package that gets accepted.
What a CEMA mortgage is in New York, how the consolidation agreement reduces your mortgage recording tax liability, and whether it's worth the added complexity.
The complete guide to down payment assistance programs in New York State — NYC HomeFirst ($100K), SONYMA DPAL, Long Island Housing Partnership, and Westchester grants.
How FHA loans work for first-time buyers in New York State, why FHA approval is nearly impossible for NYC condos, and what to use instead downstate.
How to buy your first home in New York State — from SONYMA programs to co-op boards, attorney requirements, and upstate vs. NYC differences.
Upstate NY home buying is radically different from NYC. Attorney approval clauses can void signed contracts in 3 days. Septic failures cost $14,000–$25,000. Here's what NYC transplants need to know.
New York offers up to $190,000 in stackable down payment assistance. Here's how SONYMA, DPAL, HomeFirst, AHC, and LIHP interact — and how to claim every dollar you qualify for.
How jumbo loans work in New York City, current conforming loan limits for high-cost areas, underwriting requirements, and how extended rate locks add hidden costs.
How New York's mortgage recording tax works, the NYC rates by loan size, how much you'll owe at closing, and why co-op buyers pay $0 while condo buyers pay thousands.
Buying a new condo in NYC from a developer means paying transfer taxes the seller normally covers. Here's the full breakdown of what to budget for a sponsor sale.
New York requires attorneys for every home purchase — but a guide and an attorney serve different purposes. Here's what each does and when you need both.
How the New York State transfer tax works, when the buyer pays instead of the seller, the NYC RPTT rates, and what a bargain and sale deed means at closing.
A complete breakdown of closing costs for first-time buyers in New York City — mortgage recording tax, mansion tax, attorney fees, title insurance, and escrow deposits.
Everything first-time buyers need to know about the NYC mansion tax — how the brackets work, the pricing cliff effect, and strategies to minimize your liability.
How the Peconic Bay Community Preservation Fund transfer tax works, which towns on Long Island's East End charge it, the rate, and who pays at closing.
What New York's Property Condition Disclosure Statement requires of sellers, how the 2024 law eliminated the $500 opt-out, and what buyers should know before making an offer.
A purchase CEMA lets NYC condo buyers pay mortgage recording tax only on the 'new money' — not the full loan. Here's how it works and what it costs to execute.
How SONYMA's New York mortgage programs work, current income limits by region, the DPAL down payment loan, DPAL Plus, and how to find participating lenders.
SONYMA purchase price limits vary dramatically across New York. Here are the 2025 caps by region — and what happens if your home price is above them.
SONYMA vs FHA for NY buyers: lower rates, cancellable PMI, and no lifetime insurance. Here's how to choose the right program for your situation.
How the New York STAR property tax exemption works, who qualifies, Enhanced vs. Basic STAR, and how to register before your first tax bill.
Co-ops make up 70% of NYC's for-sale apartments, but they work completely differently from condos. Here's what first-time buyers need to understand before shopping.