FHLBNY Homebuyer Dream Program
Funding status: Active
How much assistance
Up to $30,000 (Grant)
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: Available through participating FHLBNY member banks and credit unions in New York, New Jersey, Puerto Rico, and the U.S. Virgin Islands.
- Homebuyer education required: Yes
How to Apply for FHLBNY Homebuyer Dream Program
Step 1: 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.
Notes
$31.67 million allocated for 2026 with 110 participating members. Funds distributed on a first-come, first-served basis. Covers FHLBNY district including NY and NJ.