New York FHA Loans at a Glance: just 3.5% down · FICO from 580 · NYC-metro limit $1,249,125, upstate $541,287 · pairs with SONYMA DPA · NMLS #1826020
New York FHA Home Loans · Direct Lender Since 1998

FHA Loans New York

Buy a New York home with as little as 3.5% down and a credit score from 580. In the NYC metro and Long Island, FHA finances up to $1,249,125; upstate, the $541,287 floor covers nearly any home – and both pair with SONYMA down-payment help.

  • 3.5% down with a 580+ FICO (10% down from 500-579)
  • Pair SONYMA DPAL – up to $15,000, forgiven after 10 years
  • NYC metro & Long Island reach the $1,249,125 ceiling
  • Upstate Buffalo, Rochester and Syracuse finance easily at the floor
  • Gift funds welcome; seller can pay up to 6% of closing costs

Start My New York FHA Application →

Get Pre-Approved for a New York FHA Loan

Fast, friendly, no obligation.

Get Your Free Quote! No Credit Pull Required.

★ 3.5% down★ 580 credit OK★ SONYMA DPA★ Up to $1,249,125★ First-time friendly★ Serving NY since 1998

Why an FHA loan works in New York

An FHA loan is a government-insured mortgage that helps New York buyers qualify with flexible credit, a low down payment and higher debt-to-income than conventional financing. In the high-cost downstate metros, FHA’s ceiling-level limit makes it a real alternative to a jumbo loan.

New York is really two markets – an expensive downstate and an affordable upstate – and FHA works in both. Whether you are house-hacking a 2-4 unit in the Bronx or buying your first home in Buffalo, an FHA loan stacked with SONYMA help gets you to closing with less cash down. Start your application →

2026 New York FHA loan limits by county

FHA loan limits are set by county with a huge gap between downstate and upstate:

NYC metro & Long Island (1-unit)$1,249,125 (Kings/Brooklyn, Queens, New York/Manhattan, Bronx, Richmond/Staten Island, Nassau, Suffolk, Westchester, Rockland, Putnam)
Upstate & most counties (1-unit)$541,287 (Buffalo/Erie, Rochester/Monroe, Syracuse/Onondaga, Albany, Saratoga, plus Dutchess and Orange)
2-unit (ceiling counties)$1,599,375
3-4 unit (ceiling counties)$1,933,200 (3-unit) and $2,402,625 (4-unit) – powerful for owner-occupied house-hacking

2026 one-unit FHA limits set annually by HUD; 2-4 unit limits are higher. We confirm the exact limit for your New York county before you write an offer.

Ready to see how much home you can buy in New York with 3.5% down? Get pre-approved today.
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New York down payment assistance you can pair with FHA

Your FHA loan pairs with SONYMA (New York’s housing agency), whose down-payment help is forgivable over time:

Down Payment Assistance Loan (DPAL)

The greater of $3,000 or 3% of the price, up to $15,000, as a 0% loan with no payments, forgiven after 10 years.

DPAL PLUS

An enhanced tier for buyers at or below 60% of area median income, with the same forgivable structure.

Achieving the Dream

A low-interest first mortgage for lower-income buyers with as little as 1% of your own cash, stackable with DPAL.

Give Us Credit

Flexible underwriting that considers rent and utility history for buyers with thin credit.

Who qualifies

First-time buyers within SONYMA income and price limits, with a homebuyer education course.

Gift funds & seller credits

Combine gift funds and up to 6% in seller credits with FHA and SONYMA help to cut cash to close.

Ask about SONYMA DPAL – up to $15,000, forgiven over 10 years.
See If You Qualify

Assistance programs have income, price and funding limits, are first-come while funds last, and are subject to change and eligibility. We confirm what you qualify for.

First-time buyer, family, or 55+ mover – we have a New York FHA program for you.
Start My Application

New York FHA loan requirements at a glance (2026)

How little you can put down3.5% with a 580 score – or 10% if your score is between 500 and 579
Score you need580 to start; we also coach borrowers who are rebuilding their credit
What MIP costs1.75% upfront (financed) and an annual premium near 0.15%-0.55% paid monthly
Debt-to-income roomOften 43%-50% with strong compensating factors and automated underwriting
Funding your down paymentPersonal savings, gift funds from relatives, or approved assistance programs
Seller-paid costsUp to 6% of the price can be contributed by the seller toward closing
Homes you can buySingle-family New York homes, approved condos and townhomes, and owner-occupied 2-4 units
Occupancy ruleFHA is for the home you will live in as your primary residence
Qualifying with helpNon-occupant co-borrowers are welcome to strengthen your application
Buy a New York home with an FHA loan - apply nowYour New York home is closer than you think →

New York FHA at a glance

  • Only 3.5% down required to get into a New York home
  • A 580 FICO is enough – and we help buyers rebuilding credit
  • Down payment can come from SONYMA help or family gifts
  • Eligible on homes, condos and 1-4 unit owner-occupied properties
  • Refinance later with a fast FHA Streamline, no appraisal

Get My FHA Pre-Approval →

Calculate your New York FHA loan

Use these quick New York FHA estimators to size up your payment and buying power, then apply for exact, personalized figures.

1. FHA monthly payment

Estimate your full monthly payment including FHA mortgage insurance.

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Total monthly payment
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Principal, interest & MIP

2. Down payment & cash to close

See your down payment and estimated cash after seller credits.

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Estimated cash to close
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Down payment amount

3. How much home can I afford?

Estimate your FHA price range from income and monthly debts.

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Estimated home price
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Max housing payment

4. FHA loan amount + MIP

See your base loan plus the 1.75% upfront MIP financed in.

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Total financed (with UFMIP)
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Base loan / 1.75% UFMIP

Estimates only and not a commitment to lend. FHA charges 1.75% upfront MIP (financed) plus a monthly annual premium (~0.55% here for illustration). Actual figures depend on your property, credit and qualification.

Stack SONYMA help with FHA - up to $15,000 forgivable.
See If I Qualify

Family-friendly New York: best schools

School quality drives long-term home value. These New York areas are among the best-regarded in the state:

Jericho & Syosset (Nassau)

Among the very top-rated districts in the state on Long Island.

Great Neck & Manhasset (Nassau)

Elite North Shore schools within the ceiling-limit counties.

Scarsdale (Westchester)

One of New York's premier districts north of the city.

Chappaqua / Byram Hills (Westchester)

Top-rated Westchester schools in sought-after towns.

Williamsville (Buffalo area)

The best-regarded upstate suburban district.

Pittsford (Rochester area)

Highly rated schools in a desirable Monroe County suburb.

Popular New York active-adult (55+) communities

Downsizing to an active-adult community in New York? FHA works there too (condos must be FHA-approved). Notable options:

Meadowbrook Pointe (Westbury)

Amenity-rich active-adult community on Long Island.

Encore Atlantic Shores (Eastport)

Newer 55+ community on the South Shore.

Leisure Village / Knoll / Glen (Ridge)

Established active-adult communities in Suffolk County.

The Regency at Glen Cove

North Shore active-adult condos.

Active-adult communities (Hudson Valley)

55+ neighborhoods in Dutchess and Orange counties.

Condominium communities (upstate)

FHA-approved 55+ condos near Buffalo, Rochester and Albany.

Where we lend in New York

From the big metros to small towns, we lend statewide. A sampling of the New York cities where we close FHA loans:

  • New York City
  • Buffalo
  • Rochester
  • Yonkers
  • Syracuse
  • Albany
  • New Rochelle
  • Mount Vernon
  • Schenectady
  • Utica
  • Hempstead
  • Brentwood
  • Long Island
  • White Plains
  • Poughkeepsie
  • Binghamton
  • Niagara Falls
  • Troy
  • Freeport
  • Ithaca

Do not see your city? Start your application → - we lend statewide across New York.

Get your New York FHA loan moving

First-time buyer, growing family or downsizing to a 55+ community, we line up the best New York FHA program and get you pre-approved quickly with just 3.5% down.

  • Fast, no-obligation pre-approval
  • Gift funds and state DPA welcome
  • Hands-on New York help from application to closing

Apply for My New York FHA Loan →

Apply for your New York FHA home loanGet pre-approved with 3.5% down →

The 2027 New York FHA outlook

Here is where the New York market is heading into 2027 for FHA buyers:

The two New Yorks

Upstate buyers finance nearly any median home under the $541,287 floor; downstate buyers need the full $1,249,125 ceiling just for entry level.

Upstate stays affordable and hot

Buffalo, Rochester and Syracuse keep appreciating modestly as demand outpaces supply.

A chronic supply shortage

Tight inventory statewide makes a downstate price correction unlikely into 2027.

More house-hacking downstate

With even $1,249,125 barely covering NYC-area medians, expect more owner-occupied 2-4 unit FHA purchases.

Outlook only, not a guarantee or financial advice. Market conditions change; we give you current, personalized numbers when you apply.

How the New York FHA process works

Apply and get pre-approved

Fill out the quick application; we confirm budget, rate and down payment fast.

Go house-hunting

Search the New York neighborhoods and schools you love with a stronger offer in hand.

Underwriting

We order the FHA appraisal and clear your file with common-sense underwriting.

Move in

Sign at closing, take the keys, and settle into your new New York home.

New York FHA programs we offer

FHA home purchase

The 3.5%-down path to a New York primary residence - homes, condos and 2-4 units.

Rate/term streamline

Refinance an existing FHA loan to a better rate with minimal paperwork.

Renovation (203k)

One FHA loan that covers both the home and the repairs it needs.

Equity cash-out

Convert New York home equity to cash up to the FHA loan limit.

Approved-condo loans

Financing across FHA-approved New York condominium communities.

Assistance + gifts

Combine New York down-payment programs and family gifts to buy for less.

New York FHA loan questions, answered

What are the 2026 FHA loan limits in New York?

The NYC metro and Long Island (all five boroughs plus Nassau, Suffolk, Westchester, Rockland and Putnam) reach the 2026 ceiling of $1,249,125 for a one-unit home. Upstate and most other counties - Buffalo, Rochester, Syracuse, Albany, and even Dutchess and Orange - are at the $541,287 floor.

Can I buy a 2-4 unit in New York City with FHA?

Yes - and it is one of the smartest FHA strategies here. In the ceiling counties, FHA finances a 3-unit up to $1,933,200 and a 4-unit up to $2,402,625 with 3.5% down if you live in one unit, and projected rents can help you qualify.

How little can I put down on an FHA loan in New York?

As little as 3.5% with a 580 score (10% from 500-579). That down payment can come from your savings, a family gift, or eligible assistance.

Can I buy a New York condo with FHA?

Yes, as long as the condo is on the FHA-approved list or qualifies for single-unit approval - we will confirm your building before you write an offer.

Is an FHA loan right for first-time buyers in New York?

For most first-timers, yes - 3.5% down, flexible 580 credit, gift funds, and it combines with SONYMA down-payment assistance to shrink your out-of-pocket cost.

Does CambridgeHomeLoan.com lend directly?

Yes - we are a direct FHA lender (NMLS #1826020), serving homebuyers since 1998 with hands-on guidance start to finish.

Get pre-approved for your New York FHA loan

Start your New York FHA pre-approval now - low 3.5% down, flexible 580 credit, gift funds and state assistance accepted. Direct lender, no obligation, since 1998.

Get Pre-Approved for a New York FHA Loan

Fast, friendly, no obligation.

Get Your Free Quote! No Credit Pull Required.

Start My Application →

Serving New York homebuyers Since 1998!
© 2026 CambridgeHomeLoan.com  ·  NMLS #1826020  ·  4830 W Kennedy Blvd, Tampa, FL 33609  ·  (800) 826-5077  ·  Equal Housing Lender  ·  NMLS Consumer Access

Rates, terms, FHA loan limits and program guidelines are for 2026, subject to change, and depend on the property, credit and qualification. Not a commitment to lend. This is not a government agency. Equal Housing Lender.


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