Community home buyer programs in New York reduce the down payment the borrower must pay to 3%, which must be the borrower's own funds. The closing costs can be gift funds, a grant, or seller assistance up to 3% of sale price. This type of home loan requires the homebuyer to take a class on home ownership in New York. Upon completion of the class, the homebuyer will receive a certificate that reduces the cash requirement and expands the qualification ratios. Community home buyer programs have been making it possible for many people in New York to have the opportunity to buy a home. We believe at All Service New York Mortgage.com that every one should have the chance to own a home in New York so contact us today to see if you qualify for a community home buyer program.