Home » New York
Licensed in New York
FHA Loans in New York: High Limits, Real Assistance
New York prices are steep — but FHA limits here run far above the national floor, and SONYMA pairs below-market mortgages with down payment help that forgives over time. Here's how NY buyers make it work.
FHA Loan Limits in New York (2026)
New York is a tale of two markets. Upstate counties generally sit at the $541,287 FHA floor — plenty for Syracuse, Buffalo, Rochester, and Albany-area purchases. Downstate is a different story: the NYC metro, Long Island, and surrounding high-cost counties carry limits far above the floor, up to the $1,249,125 national ceiling. Your county's exact limit is set annually by HUD.
Down Payment Assistance in New York
SONYMA — the State of New York Mortgage Agency — is the state's main path, pairing below-market first mortgages with assistance:
- DPAL (Down Payment Assistance Loan): a 0%-interest second loan with no monthly payments — forgiven over 10 years if you keep the SONYMA mortgage and stay in the home. Assistance up to 3% of the purchase price (max $15,000).
- DPAL Plus: a limited enhanced program offering up to $30,000 for lower-income households (funds are limited and first-come, first-served).
- SONYMA also offers FHA Plus and Conventional Plus combinations, and you apply through a participating lender.
Program terms change — I'll verify yours
SONYMA income limits vary by county and household size, and DPAL Plus funding comes and goes. When we talk, I'll check what's currently available for your situation — free.
Areas I Serve in New York
Statewide and 100% remote. That includes New York City's five boroughs, Long Island, and Westchester (high-cost counties with higher FHA limits), plus Buffalo, Rochester, Syracuse, and Albany upstate — where the FHA floor covers far more house for the money.
A New York note: closings here run through real estate attorneys — you'll want one reviewing your contract, and I work alongside your attorney through the process. My pre-approvals are built to withstand attorney review and, where applicable, co-op board scrutiny. If you're buying in the city, tell me early whether you're targeting condos or co-ops — the financing path is very different.
New York Homebuyer FAQs
Is SONYMA's DPAL really forgiven?
Yes — it's forgiven in equal monthly installments over 10 years of occupancy. If you sell or refinance out of the SONYMA mortgage during that window, the remaining balance can be recaptured.
Can I use SONYMA with an FHA loan?
Yes — SONYMA's FHA Plus program is built exactly for that combination, pairing the FHA first mortgage with down payment assistance.
Do New York co-ops qualify for FHA loans?
Co-ops can be tricky — the project must meet FHA requirements, and many NYC co-ops don't. Condos in FHA-approved projects are the smoother path. I'll verify any specific property you're considering.
Do I need a real estate attorney to buy in New York?
Yes — New York is an attorney-closing state, and you should have one before you sign a contract. I coordinate directly with buyers' attorneys as a matter of routine.
Buying in this state? Let's talk.
Free consultation, straight answers about what you qualify for. Call or text (646) 977-1860 or send me a message.
Buying in Brooklyn? See the Brooklyn FHA loan guide for borough-level detail. Buying on Long Island? See the Uniondale FHA loan guide.
New to buying? Start at the First-Time Buyer Hub. Compare loan programs.