Magyar Bank Homebuyer Dream Program

Administered by: Magyar Bank / Federal Home Loan Bank of New York · Nonprofit · Grant

Funding status: Active

How much assistance

Up to $30,000 (Grant)

Eligibility

  • Income limits: Low to moderate income (80% AMI or below)
  • First-time buyer required: Yes
  • Geographic restrictions: Must purchase in Magyar Bank service area (Central New Jersey).
  • Homebuyer education required: Yes

How to Apply for Magyar Bank Homebuyer Dream Program

Step 1: Contact Magyar Bank at affordablehousing@magbank.com or call 1-888-990-BANK. Must complete HUD-certified homebuyer counseling program and open a checking account with Magyar Bank with automatic mortgage payment withdrawal.

Visit program website

Notes

Funded through FHLBNY Homebuyer Dream Program partnership. First-come, first-served basis. Applications typically open in spring. Verify current funding availability.

Cities Where This Program Is Available