First-Time Home Buyer Guide Queens NY 2026 | Armas Group NYC

Written by Julian Armas, Licensed Real Estate Broker | Armas Group NYC | 25+ Years Serving Queens, New York

Buying your first home in Queens is an exciting milestone. This guide walks you through everything you need to know — from understanding your budget to closing on your new home.

Step 1: Understand What You Can Afford in Queens

• Co-ops start around $250,000–$400,000 in Sunnyside and Elmhurst
• Condos range from $450,000 in Corona and Jackson Heights to $900,000+ in Long Island City
• Single-family homes typically start around $600,000 in most Queens neighborhoods

Step 2: Get Pre-Approved for a Mortgage

A mortgage pre-approval letter is essential. Armas Group NYC can connect you with Queens mortgage professionals specializing in FHA loans (3.5% down), SONYMA loans, and NYC HomeFirst Down Payment Assistance (up to $100,000).

Step 3: Choose the Right Queens Neighborhood

• Best for affordability: Corona, Elmhurst, Jamaica
• Best for families and schools: Bayside, Forest Hills, Bellerose
• Best for Manhattan commuters: Jackson Heights, Sunnyside, Long Island City

Step 4: Work With an Experienced Queens Buyer’s Agent

As a first-time buyer, you need an experienced agent. In New York, the seller pays the buyer’s agent commission — so working with Armas Group NYC costs you nothing as the buyer.

Frequently Asked Questions

How much down payment do I need to buy in Queens?

FHA loans allow as little as 3.5% down. Conventional loans typically require 10–20%. NYC HomeFirst may provide up to $100,000 in assistance for eligible buyers.

What are closing costs for a buyer in Queens NY?

Budget approximately 2–5% of the purchase price for total closing costs, including title insurance, attorney fees, and mortgage recording tax.