Homebuyer Dream Program^®

This offering is for first-time homebuyers earning at or below 80% of the Area Median Income (AMI), HDP provides funding for down payment and closing cost assistance.

Homebuyer Dream Program^® Plus

HDP Plus is available to households earning greater than 80% of the Area Median Income (AMI). Funding is for down payment and closing cost assistance.

Participating members may offer HDP Plus to households that meet the following income thresholds:

• New York and New Jersey: Earning over 80% AMI, but not to exceed 120% AMI
• Puerto Rico and U.S. Virgin Islands: Earning over 80% AMI, but not to exceed 150% AMI
  
  

Homebuyer Dream Program^® Wealth Builder

This is a Special Purpose Credit Program designed to address the wealth gap by providing funding to individuals and families who have historically experienced challenges accessing the credit or housing markets. Recipients must currently reside within, and purchase an eligible property type within, the FHLBNY District.

Funding must be utilized for down payment and closing cost assistance. The HDP Wealth Builder may be offered to households that meet the following income thresholds:

• New York and New Jersey: Earning income equal to or less than 120% of the AMI
• Puerto Rico and U.S. Virgin Islands: Earning income equal to or less than 150% of the AMI

Eligible households must also meet one of the following eligibility criteria:

• Reside within a majority-minority census tract or
• Qualify as first-generation homebuyers