The Federal Home Loan Bank of New York’s Homebuyer Dream Program® 2024 availability runs from January through August.  As always, please contact us with any questions by phone or text to (716) 632-9328.

What is the Homebuyer Dream Program?

We have partnered with the Federal Home Loan Bank of New York to offer our members the benefits of the Homebuyer Dream and Homebuyer Dream Plus Programs.  These are both a $20,000 grant program offered to eligible first time home buyers. Grant money can be used to pay up to $19,500 towards down payment and closing costs and $500 as credit towards an approved Home Owner Counseling Course.

Don’t delay…the grant money is on a first come – first serve basis.

What do you have to do to be eligible for this program?

  • Must be purchasing a home within our lending area
  • Work a minimum of 32 hours a week
  • Be a qualified first-time home buyer (someone who has not owned a home in the last 3 years)
  • Have a minimum of $1,000 equity contribution toward the purchase of the home
  • Complete an Home Ownership Counseling Course
  • Purchase an eligible property: 1-4 family house, condominiums, or a manufactured home permanently affixed to a foundation.
  • Meets Income Requirements:
    • Homebuyer Dream – 80% or below of the Area Medium Income for the county in which the home is purchased.
    • Homebuyer Dream Plus – >80% & <150% of the Area Medium Income for the county in which the home is being purchased.
  • Be under contract to purchase a home at time of application
  • Agree to remain in the purchased home for 5 years

What do I need to do to start the process?

Become Pre-Approved – Click Here for our current rates and application. (Once approved, approvals are good for 90 days and can be extended).

Complete the Homeownership Counseling Course – Click Here to find a location near you and registration. (Once the course is completed, you will receive a certificate which is valid for 18 months).