First-Time Homebuyer Down Payment Assistance

East Hampton Town Community Housing Fund

2025  First-Time Homebuyer Down Payment Assistance Program

The Town of East Hampton’s First-Time Homebuyer Down Payment Assistance program is designed to help eligible participants achieve first-time home ownership by providing financial assistance that can be used for down payment and closing costs for a home purchase.

This program is open on a first-come, first-served basis until 2025 funding has been exhausted. 
 The initial amount budgeted for this program, from the Community Housing Fund, is $600,000.

 Potential homebuyers may apply for the Down Payment Assistance program prior to selecting a house to buy. Those who are eligible and are approved will be issued a Purchaser Certificate verifying the availability of the funds, which will be in effect for a one-year period. Purchasers must select a house that meets the Community Housing Fund “community housing” definition, meaning within the maximum purchase price limit, currently $1,768,500. 

Interest-free loans of up to $30,000, with no monthly payments, will be offered. The loans will be repayable in full upon future sale of the property and will be secured through a lien on the property.

This program is made available through the East Hampton Town Community Housing Fund, an ongoing source of funding for affordable housing programs made possible by East Hampton voters’ approval in 2022 of a half-percent tax on real estate transfers.

Applications for First-Time Homebuyer Down Payment Assistance will be accepted on a rolling basis.
Funding will be awarded on a first-come, first-served basis based on available funds and subject to approval by the East Hampton Town Board.

Read the Program Guidelines: 2025 First-Time Homebuyer Down Payment Assistance Program

Apply: Application: 2025 First-Time Homebuyer Down Payment Assistance

For full program Administrative Plan — First-Time Homebuyer Down Payment Loan Administrative Program Plan 2025