Establishes the New York state first home grant program to assist first-time home buyers.

The bill establishes the New York state first home grant program, which provides assistance to first-time home buyers. The commissioner of homes and community renewal, in consultation with the state comptroller, implements the program. The program offers grants up to $10,000 for eligible home buyers to cover downpayment costs, closing costs, and interest rate reduction on mortgage loans. It also includes subsidies for shared equity homes and pre-occupancy modifications for disabled home buyers. Recipients must maintain the purchased home as their primary residence for five years.

Establishes the New York state first home grant program to assist first-time home buyers.

The bill establishes the New York state first home grant program, which provides assistance to first-time home buyers. The commissioner of homes and community renewal, in consultation with the state comptroller, implements the program. The program offers grants up to $10,000 for eligible home buyers to cover downpayment costs, closing costs, and interest rate reduction on mortgage loans. It also includes subsidies for shared equity homes and pre-occupancy modifications for disabled home buyers. Recipients must maintain the purchased home as their primary residence for five years.