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Find similar grantsHomebuyer Dream Program is sponsored by TEG Federal Credit Union. Offers grants to first-time homebuyers in New York State for down payment and closing cost assistance.
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We’re here to help protect you! Become a Member Apply with an Officer 2026 Homebuyer Dream Program (HDP), Homebuyer Dream Plus (HDP Plus) & Wealth Builder Get up to $30,000 in grants* to help you purchase your first home! The 2026 program is now OPEN!
The 2026 Homebuyer Dream Program is a suite of three grants offered by the Federal Home Loan Bank of New York (FHLBNY) . As a participating FHLBNY member, TEG Federal Credit Union can help qualifying low—to middle-income first-time homebuyers obtain a generous grant for their home’s down payment and closing costs.
Grant funds for each of the Homebuyer Dream Programs are limited and awarded to eligible homebuyers on a first-come, first-served basis. Contact one of our Mortgage Officers to determine your eligibility and get pre-approved so you can begin your home search with confidence! What are the Homebuyer Dream Program Eligibility Requirements?
Up to $20,000 in grant funding is available to be applied to down payment and closing costs. To qualify, at least one borrower must be a first-time homebuyer. A first-time homebuyer is defined as an individual who has not owned a home during the 3 years before the purchase of the new home.
Homebuyers are required to complete a homebuyer education course and provide the certificate before submitting the grant application. The Homeownership Counseling Certificate is typically valid for 18 months. Your mortgage officer can refer you to a suitable course.
Household income for all adult occupants (18 years and older) must be at or below 80% of the Area Median Income (AMI) in the county where the new property is located.
Here is an example of the list of our counties: County 1 & 2 Person Household Income Limits 3+ Person Household Income Limits Dutchess $98,400 $113,160 Orange $98,400 $113,160 Putnam $155,520 $155,520 Rockland $155,520 $181,440 Sullivan $88,160 $101,384 Ulster $95,840 $110,216 Westchester $163,200 $190,400 Learn More About Household Income Limits You will need to provide a minimum of $1,000 of your own funds to use towards the purchase of the home.
HDP Grant is secured by a subordinate mortgage on the property that will be forgiven after five years of owner occupancy. No interest or payments are required, however, if the borrower sells or ceases occupying the subject property as their primary residence within 5 years, they may be required to repay a prorated portion of the grant.
Homebuyer Dream Program Plus Up to $10,000 in grant funding is available to be applied to down payment and closing costs. To qualify, at least one borrower must be a first-time homebuyer. A first-time homebuyer is defined as an individual who has not owned a home during the 3 years before the purchase of the new home.
Homebuyers are required to complete a homebuyer education course and provide the certificate before submitting the grant application. The Homeownership Counseling Certificate is typically valid for 18 months. Your mortgage officer can refer you to a suitable course.
Household income for all adult occupants (18 years and older) must be greater than 80% but not exceeding 120% of the Area Median Income (AMI) in the county where the new property is located. Here is an example of the list of our counties: County 1 & 2 Person Household Income Range 3+ Person Household Income Range Dutchess $98,400. 01 – $147,600 $113,160.
01 – $169,740 Orange $98,400. 01 – $147,600 $113,160. 01 – $169,740 Putnam $155,520.
01 – $233,280 $181,440. 01 – $272,160 Rockland $155,520. 01 – $233,280 $181,440.
01 – $272,160 Sullivan $88,160. 01 – $132,240 $101,384. 01 – $152,076 Ulster $95,840.
01 – $143,760 $110,216. 01 – $165,324 Westchester $63,200. 01 – $244,800 $190,400.
01 – $285,600 Learn More About Household Income Limits↗ You will need to provide a minimum of $1,000 of your own funds to use towards the purchase of the home. HDP Plus is a grant funded at closing and will reflect the Closing Disclosure. There are no retention requirements or subordinate lien associated with this grant.
Homebuyer Dream Progam – Wealth Builder To qualify for an additional $10,000: At least 1 borrower must currently reside in a minority census tract OR Have aged out of foster care OR Have parents who do not and never have owned real estate in the US To qualify, at least one borrower must be a first-time homebuyer.
A first-time homebuyer is defined as an individual who has not owned a home during the 3 years before the purchase of the new home. Homebuyers are required to complete a homebuyer education course and provide the certificate before submitting the grant application. The Homeownership Counseling Certificate is typically valid for 18 months.
Your mortgage officer can refer you to a suitable course. Household income for all adult occupants (18 years and older) must be at or below 120% of the Area Median Income (AMI) in the county where the new property is located.
Here is an example of the list of our counties: County 1 & 2 Person Household Income Limits 3+ Person Household Income Limits Dutchess $147,600 $169,740 Orange $147,600 $169,740 Putnam $233,280 $272,160 Rockland $233,280 $272,160 Sullivan $132,240 $152,076 Ulster $143,760 $165,324 Westchester $244,800 $285,600 Wealth Builder can be layered with HDP or HDP Plus.
You will need to provide a minimum of $1,000 of your own funds to use towards the purchase of the home. Wealth Builder is a grant funded at closing and will reflect the Closing Disclosure. There are no retention requirements or subordinate lien associated with this grant.
How Does the Program Work? Discuss the Eligibility and Required Documentation for HDP, HDP Plus, and HDP Wealth Builder with a TEGFCU Mortgage Expert to determine if you will qualify for the program. Once you have an accepted purchase contract for your new home, provide your fully executed purchase contract, income documentation, Homebuyer Course certificate, and a complete TEG mortgage application.
TEGFCU will submit your grant application to the Federal Home Loan Bank of NY.. FHLBNY reviews your application and submitted documents. The grant is submitted to the FHLBNY approval.
If approved, you have up to 90 days to close on your new home. Please note: Grants are not transferable to different homebuyer borrowers or properties. Get Prequalified with TEG Determine HDP household eligibility Take a Homebuyer Certification Course Submit a TEG mortgage application TEG applies for the HDP on your behalf Meet Our Mortgage Officers We are here to help you secure the loan approval you need!
With an extensive background in mortgage lending, we are committed to helping you find the best possible financial solution. APPLY TODAY with one of our Mortgage Officers. Get personalized, one-on-one service that is unequaled by other lenders.
Our team has the expertise to walk you through these questions and more. We’ll start by getting to know you, then help you get you pre-approved for the right loan so you know how much house you can afford. Our experienced staff are here to help make the loan process as smooth as possible for you, and can help you: Conventional Mortgage & Refinance Rates Mortgage Type Rate APR Points 30 Year Fixed 6.
000% 6. 146% 1. 000% 20 Year Fixed 6.
000% 6. 130% 0. 500% 15 Year Fixed 5.
750% 5. 992% 1. 000% APR = Annual Percentage Rate.
Rates effective as of 05/08/2026. All loans are subject to approval. APR assumes a $300,000 loan amount with escrows a FICO score of 760 or higher for a loan for an owner-occupied (primary residence), single-family dwelling in New York State with a loan-to-value ratio of 80% or less, and no cash-out.
For example, a 30-year, $300,000 conforming mortgage with a fixed APR of 6. 146% has an approximate payment amount of 1,798. 65 .
Real estate taxes, insurance, and private mortgage insurance (if applicable) are not included; therefore, the actual payment obligation will be greater. Your rate may vary based on your creditworthiness, loan amount, purpose, property type, occupancy, LTV, lock period, and other credit characteristics. All rates and terms are subject to change without notice.
No rate is guaranteed without a valid rate lock. A point is equal to 1% of the loan amount’s balance. Private mortgage insurance (PMI) is required on mortgages that exceed 80% loan-to-value (LTV).
When refinancing, the maximum loan-to-value is 80% if you take cash out. Contact a TEG Mortgage Officer for further details. Other terms and conditions may apply.
Mortgage Type Rate APR Points First Cap Subsequent Cap Lifetime Cap 5/6 SOFR ARM 5. 375% 5. 921% 1.
000% +/- 2. 00% +/- 1. 00% +/- 5.
00% 7/6 SOFR ARM 5. 625% 5. 892% 1.
000% +/- 5. 00% +/- 1. 00% +/- 5.
00% APR = Annual Percentage Rate. Rates effective as of 05/08/2026. All loans are subject to approval.
APR assumes a $300,000 loan amount with a FICO score of 760 or higher for a loan for an owner-occupied (primary residence), single-family dwelling in New York State with a loan-to-value ratio of 80% or less. Rates on 5/6 ARMs are fixed for the first five years and subsequently subject to change bi-annually. Rates on 7/6 ARMS are fixed for the first seven years and subsequently subject to change bi-annually.
For example, a 5/6 ARM at a fixed initial interest APR of 5. 921% would initially be $2,123. 38 or a 7/6 ARM at a fixed initial interest APR of 5.
892%, would initially be $1,726. 97 . Real estate taxes, insurance, and private mortgage insurance (if applicable) are not included; therefore, the actual payment obligation will be greater.
After the initial fixed term, rates will adjust based on the index, Secured Overnight Financing Rate (SOFR), and a margin, not to exceed the initial, subsequent or lifetime change cap. Your rate may vary based on your creditworthiness, loan amount, purpose, LTV, lock period, and other credit characteristics. All rates and terms are subject to change without notice.
No rate is guaranteed without a valid rate lock. A point is equal to 1% of the loan amount’s balance. Private mortgage insurance (PMI) is required on mortgages that exceed 80% loan-to-value (LTV).
Contact a TEG Mortgage Officer for further details. Other terms and conditions may apply. Get answers in our Mortgage Learning Center.
Find helpful articles, tools, and other great resources to help you with your homebuying journey. As a not-for-profit credit union, we focus on being your financial partner, helping you save money, and guiding you to financial success. Come talk to us and discover the TEGFCU Difference.
Membership is open to all those who live, work, worship, or attend school in the New York Counties of Dutchess, Orange, Rockland, Putnam, Sullivan, Ulster, and Westchester. The grant funds will be made available to qualifying first-time homebuyers in conjunction with a TEGFCU mortgage. Please contact a mortgage officer for additional details if you are a member looking to purchase outside of our charter area.
As a not-for-profit credit union, we focus on being your financial partner, helping you save money, and guiding you to financial success. Come talk to us and discover the TEGFCU Difference. Membership is open to all those who live, work, worship, or attend school in the New York Counties of Dutchess, Orange, Rockland, Putnam, Sullivan, Ulster, and Westchester.
The grant funds will be made available to qualifying first-time homebuyers in conjunction with a TEGFCU mortgage. Please contact a mortgage officer for additional details if you are a member looking to purchase outside of our charter area. The Homebuyer Dream Program® (HDP®) and The Homebuyer Dream Plus Program® (HDP Plus®) are registered trademarks of the Federal Home Loan Bank of New York (FHLBNY).
The FHLBNY’s website has additional program details: Homebuyer Dream Overview and Homebuyer Dream Plus Overview . Borrowers must meet TEG membership eligibility, loan approval, HDP qualification requirements, and be first-time homebuyers. The FHLBNY reserve the right to change the terms and conditions at any time, without prior notice.
The grant is a Federal Home Loan Bank of NY program and funding is subject to their approval. We Do Business in Accordance with Federal Fair Lending Laws – Fair Housing Poster . Home Mortgage Disclosure Act Notice : The HMDA data about our residential mortgage lending are available for review.
The data show: Geographic distribution of loans and applications Ethnicity, race, sex, and income of applicants and borrowers Information about loan approvals and denials. HMDA data for many other financial institutions are also available online. For more information, visit the Consumer Financial Protection Bureau’s Web site www.
consumerfinance. gov/hmda . APY = Annual Percentage Yield ▪️ APR = Annual Percentage Rate ▪️ All rates and offers are subject to change without notice.
▪️ All financing is subject to approval and is based on an evaluation of credit history, so your rate may differ. ▪️ Please consult with qualified professionals to discuss your situation. ▪️ The calculators on the TEGFCU website are provided for educational purposes and results may differ based on the terms and conditions of specific products and may not apply to you.
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Based on current listing details, eligibility includes: First-time homebuyers in New York State. Applicants should confirm final requirements in the official notice before submission.
Current published award information indicates Up to $30,000 Always verify allowable costs, matching requirements, and funding caps directly in the sponsor documentation.
The current target date is rolling deadlines or periodic funding windows. Build your timeline backwards from this date to cover registrations, approvals, attachments, and final submission checks.
Federal grant success rates typically range from 10-30%, varying by agency and program. Build a strong proposal with clear objectives, measurable outcomes, and a well-justified budget to improve your chances.
Requirements vary by sponsor, but typically include a project narrative, budget justification, organizational capability statement, and key personnel CVs. Check the official notice for the complete list of required attachments.
Yes — AI tools like Granted can help research funders, draft proposal sections, and check compliance. However, always review and customize AI-generated content to reflect your organization's unique strengths and the specific requirements of the solicitation.
Review timelines vary by funder. Federal agencies typically take 3-6 months from submission to award notification. Foundation grants may be faster, often 1-3 months. Check the program's timeline in the official solicitation for specific dates.
Many federal programs offer multi-year funding or allow competitive renewals. Check the official solicitation for continuation and renewal policies. Non-competing continuation applications are common for multi-year awards.
The Fund for Women & Girls Grant Program is sponsored by The Foundation for Enhancing Communities (TFEC). The Fund for Women & Girls, an initiative of TFEC, makes grants to local nonprofit organizations in specific South Central PA counties. The grants support projects that advance the lives of women and girls by providing opportunities to address basic needs, develop economic self-sufficiency, and strengthen health and safety needs.
VGF grants will be used to develop and/or support community-based entities to recruit, manage, and support volunteers. CNCS seeks to fund effective approaches that expand volunteering, strengthen the capacity of volunteer connector organizations to recruit and retain skill-based volunteers, and develop strategies to use volunteers effectively to solve problems. Specifically, the VGF grants will support efforts that expand the capacity of volunteer connector organizations to recruit, manage, support and retain individuals to serve in high quality volunteer assignments.Applicants that receive funding under this Notice may directly carry out the activities supported under the award, or may carry out the activities by making sub-grants to community-based entities, supporting volunteer generation at these entities.). Funding Opportunity Number: AC-05-25-21. Assistance Listing: 94.021. Funding Instrument: G. Category: O. Award Amount: $6.1M total program funding.