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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

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

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.

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 (3 cities across 2 states)

New Jersey (1 city)
New York (2 cities)