Homebuyer Dream Program Wealth Builder

Homebuyer Dream Program Wealth Builder is a grant for homebuyers in Statewide County, New Jersey, administered by Federal Home Loan Bank of New York (via participating member lenders). HDP Wealth Builder is an FHLBNY first-time homebuyer grant for buyers who also qualify as first-generation homebuyers, earning <= 120% AMI in NY/NJ, within the FHLBNY District. Grants (up to $30,000 suite maximum) through member lenders for down payment, closing costs, and counseling, with no retention period. Layerable with HDP or HDP Plus (not both). Grant for down payment and closing costs. First-generation buyer support. No retention period. Statewide in NJ. Funding comes from FHLBNY (not a statutory AHP contribution; funding assessed annually).

Homebuyer Dream Program Wealth Builder offers up to $30,000 in assistance. Homebuyer contribution: Minimum $1,000 total buyer contribution. Amounts are the program's published maximums, not an offer — Federal Home Loan Bank of New York (via participating member lenders) determines any individual award.

Homebuyer Dream Program Wealth Builder is structured as a grant, so it is not repaid. Repayment is triggered by None - no retention period. Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Homebuyer Dream Program Wealth Builder is open to first-time homebuyers and homebuyers who will live in the home as their primary residence. "First-time homebuyer" usually means not having owned a home in the last three years, but the program sets its own definition. A homebuyer education course is required, through Homebuyer counseling required via member lender. Borrower must be a first-generation homebuyer. Must use an FHLBNY participating member lender. NJ income <= 120% AMI. $1,000 buyer contribution; counseling required. Not a statutory AHP contribution - funding assessed annually.

Homebuyer Dream Program Wealth Builder limits household income to 120% of the area median income, which varies by county and household size. NY/NJ: income <= 120% AMI (Mortgage Revenue Bond standard; county-specific). Borrower must also be a first-generation homebuyer. Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

Homebuyer Dream Program Wealth Builder can be used for Single Family, Condo, Townhouse, and 1-4 Family.

Homebuyer Dream Program Wealth Builder names first-generation homebuyers among the groups it serves. Being named here means the program mentions the group, not that membership alone qualifies an applicant — the rest of the eligibility rules still apply.

Homebuyer Dream Program Wealth Builder serves homebuyers purchasing in Statewide County, New Jersey. The program targets specific areas: Property within the FHLBNY District (NY/NJ/PR/USVI); all NJ metros qualify. Borrower must be a first-generation homebuyer.

Applications for Homebuyer Dream Program Wealth Builder go through Federal Home Loan Bank of New York (via participating member lenders), which publishes the current terms and the application steps on its own site. Hey Prescott is not a lender and does not accept applications; this page describes the program so a homebuyer can take it to a lender or housing counselor.