NY A10449

Creates the CareForce first-time homebuyers program administered by the Division of Housing and Community Renewal to assist healthcare and care workforce employees in purchasing homes

Provides mortgage interest rates 0.50% below prevailing agency rates and forgivable down payment assistance loans of up to $20,000

Down payment assistance loans are fully forgiven after 10 years of continuous owner-occupancy, transfer to another agency mortgage product, or documented hardship

Eligible borrowers must be first-time homebuyers employed at least 20 hours per week in qualifying care occupations (direct support professionals, CNAs, nurses, behavioral health staff, early intervention therapists) and purchase a home within 25 miles or 60 minutes commuting distance of their workplace

Requires annual reporting to the governor and legislature on loan originations, geographic distribution, assistance amounts, and workforce retention outcomes