Homebuyer Dream Program® (HDP®)

Homebuyer Dream Program® (HDP®) is sponsored by Federal Home Loan Bank of New York (administered by Genesee Regional Bank). The Homebuyer Dream Program® is a non-competitive grant program for eligible first-time homebuyers in New York State, providing funds towards down payment and closing costs. GRB and the Federal Home Loan Bank of New York (FHLBNY) collaborate to provide this assistance.

Homebuyer Dream Program® Wealth Builder | Genesee Regional Bank | GRB Professional Practice Banking Specialized Banking Services Commercial Real Estate Financing Solutions Smart Start Youth Bank Accounts Relationship Banking Team Mortgage Update With Mike & Joe The Homebuyer Dream Program ® Wealth Builder (HDP ® Wealth Builder) * is a non-competitive grant program offered to eligible first-time homebuyers that provides funds toward the loan’s down payment and closing costs.

Receive Down Payment Assistance with the HDP ® Wealth Builder Grant The 2026 Program opens on Feb. 9, 2026. Please fill out the form below and work with a GRB Mortgage Originator to look at all of the possible financing option available to help you purchase a home.

GRB and the Federal Home Loan Bank of New York (FHLBNY) work together to provide grant assistance to qualified first-time home buyers. The Homebuyer Dream Program Wealth Builder provides grants toward the purchase of a home in the state of New York. The FHLBNY uses an allotment program, providing lenders with a set amount of funding for the year.

Funds are distributed to homebuyers on a first come, first serve basis. The annual Homebuyer Dream Program begins accepting applications for funds as they are distributed by the FHLBNY. It varies year to year.

This means it is critical that prospective Homebuyer Dream applicants begin working with lenders early in order to be ready to apply when the program opens or as additional funds are released.

Must be first-time homebuyers ** who either reside in a majority-minority census tract *** or qualify as a First-Generation Homebuyer Reside and purchase a home in New York Have a household at or below 120% area median income Complete an accredited homeownership course Meet the income and credit requirements for the program Have the minimum equity contribution of $1,000 toward purchase of the home Find the Homebuyer Dream Program That Supports Your Purchase Goals The Homebuyer Dream Program is part of the Federal Home Loan Bank of New York ‘s (FHLBNY) Homebuyer Dream Program Suite.

The full suite includes the Homebuyer Dream Program , HDP Plus , and HDP Wealth Builder . Compare all programs below, and contact our Mortgage team to find the program that best fits your purchasing needs!

Homebuyer Dream Program ® Homebuyer Dream Program ® HDP ® Plus HDP ® Wealth Builder Leverage added benefits and advanced banking services $ 39 99 /year First-Time Homebuyer Requirements First-Time Homebuyer** First-Time Homebuyer ** First-Time Homebuyer ** must either reside in a majority-minority census tract *** or qualify as First-Generation Homebuyer Area Median Income (AMI) Limits ≤ 80% AMI > 80% AMI But not to exceed 120% AMI ≤ 120% AMI Purchase Property Occupancy Owner-Occupied Primary Residence Owner-Occupied Primary Residence Owner-Occupied Primary Residence Grant Usage Down payment, closing cost assistance, and first-time homebuyer counseling Down payment, closing cost assistance, and first-time homebuyer counseling Down payment, closing cost assistance, and first-time homebuyer counseling Minimum Homebuyer Contribution $1,000 $1,000 $1,000 5-Year Retention Period Homebuyer Counseling Required GET MORE DETAILS GET MORE DETAILS CONTACT OUR TEAM Click the button below to fill out our ‘Contact Us’ form, and a GRB Mortgage Originator will be in touch to answer your questions!

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(Required) New home mortgage or refinance Customer service for closed mortgages Customer service for current HELOCs and accounts, online banking access, etc. If you are currently working with a Mortgage Originator from GRB or have worked with one in the past, please provide their name. Where are you planning to purchase a home? Thousand Islands/Adirondacks What mortgage options are you considering (check all that apply)?

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Please, DO NOT provide any non-public personal or sensitive information (such as SSN, account numbers, or income). * The Homebuyer Dream Program is a registered trademark of the Federal Home Loan Bank of New York. Additional program details are available on the Federal Home Loan Bank of New York website.

Please work with your GRB Mortgage Loan Originator to discuss your specific situation. Return to content. ** First-time homebuyer as defined by the U.S. Department of Housing and Urban Development (“HUD”), is an individual who meets any of the following criteria: An individual who has had no ownership in a principal residence during the 3-year period ending on the date of the purchase of the property.

This includes a spouse (if meets the above test, they are considered first-time homebuyers). A single parent who has only owned a principal residence with a former spouse while married. Individual who is a displaced homemaker and has only owned a principal residence with a spouse.

An individual who has only owned a principal residence not permanently affixed to a permanent foundation in accordance with applicable regulations. An individual who has only owned a property that was not in compliance with state, local or model building codes and could not be brought into compliance for less than the cost of constructing a permanent structure. Return to content.

*** A majority-minority census tract refers to a geographic area defined by the U.S. Census Bureau in which more than 50% of the population belongs to one or more minority groups. Minority groups in this context typically include racial and ethnic populations other than non-Hispanic White individuals. Qualifying census tract information is available online .

Some census tract information is difficult to see on a map. Please consult your GRB Mortgage Originator to confirm eligibility.