New down payment program to help first time homebuyers

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New down payment program to help first time homebuyers

Those who hope to fulfill the dream of owning their first home were given an edge today when Nassau County Executive Edward P. Mangano announced a new program that will provide down payment assistance.

“There are few things more gratifying in life than owning your first home,” said Mangano. “One of those things is being able to help others realize that dream. Nassau is doing just that with the HOME program.”

The 2010-2011 HOME Down Payment Assistance Program will help first-time buyers who qualify with up to $20,000 in assistance towards a down payment. One requirement for those who apply is to contribute a minimum of $3,000 toward the down payment. The program is being run in conjunction with the Long Island Housing Partnership (LIHP).

“The Long Island Housing Partnership is pleased to continue our partnership with Nassau County in providing down payment assistance to first┬átime homebuyers,” said LIHP President Peter Elkowitz. “I would like to thank County Executive Mangano for the opportunity to implement this worthwhile program and we look forward to working with Nassau County on bringing the American Dream of home ownership to the residents of the county.”

“Everyday it becomes more difficult for families and seniors to make ends meet in Nassau County,” said Mangano. “Government and the private sector need to make purchasing a home easier and more attainable for first-time buyers.”

Those who are interested in the program should contact the Nassau County Office of Community Development, or visit the agency’s web site at www.nassaucountyny.gov/communitydevelopment.

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