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FHLBNY Homebuyer Dream Program

Administered by:
Federal Home Loan Bank of New York
 · State · Grant
Funding status: Active

How much assistance

Up to $30,000
No repayment required. Grant funds for down payment, closing costs, and homebuyer counseling.

Eligibility

  • Income limits: Household income at or below 80% of Area Median Income (AMI) adjusted for household size.
  • First-time buyer required: Yes — Must be a first-time homebuyer.
  • Geographic restrictions: HDP base program available nationwide through participating FHLBNY member lenders. HDP Plus and HDP Wealth Builder are only available in the FHLBNY district: New York, New Jersey, Puerto Rico, and U.S. Virgin Islands. Pennsylvania is served by FHLB Pittsburgh, not FHLBNY.
  • Homebuyer education required: Yes

How to Apply for FHLBNY Homebuyer Dream Program

Apply through a participating FHLBNY member bank or credit union. Complete homeownership counseling through an approved agency. Provide minimum equity of $1,000 toward the purchase.

Learn More About Homebuying in New York

Cities Where This Program Is Available (65 cities across 2 states)

New Jersey (26 cities)
New York (39 cities)

Available Statewide In