FHLBNY Homebuyer Dream Program (HDP) Suite

FHLBNY Homebuyer Dream Program (HDP) Suite is a grant for homebuyers in New York, administered by Federal Home Loan Bank of New York (FHLBNY). The FHLBNY Homebuyer Dream Program (HDP) Suite provides grant funds (through approved participating FHLBNY member lenders) toward down payment, closing costs, and homebuyer counseling for first-time homebuyers. The suite has three tiers: HDP (income at or below 80% AMI), HDP Plus (above 80% up to 120% AMI in NY/NJ), and HDP Wealth Builder (up to 120% AMI in NY/NJ for buyers in majority-minority census tracts or first-generation homebuyers). Grant of up to $30,000 per household toward down payment, closing costs, and homebuyer counseling. HDP Wealth Builder may be layered with HDP or HDP Plus for up to $60,000 per household.

FHLBNY Homebuyer Dream Program (HDP) Suite offers up to $30,000 in assistance. The program can be combined with other assistance, subject to the rules of each. Amounts are the program's published maximums, not an offer — Federal Home Loan Bank of New York (FHLBNY) determines any individual award.

FHLBNY Homebuyer Dream Program (HDP) Suite is structured as a grant, so it is not repaid. Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

FHLBNY Homebuyer Dream Program (HDP) Suite 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. Must be first-time homebuyer. Funds disbursed only through approved participating FHLBNY member institutions; the 2026 round was allocated $31,670,000 on 2/9/2026 with 110 members participating, and rounds close 11/27/2026 or earlier if funds exhausted. HDP Plus and HDP Wealth Builder may only be administered within the FHLBNY District (NY, NJ, PR, USVI). Combined FHLBNY grant amounts limited to $60,000 per household.

FHLBNY Homebuyer Dream Program (HDP) Suite limits household income to 80% of the area median income, which varies by county and household size. HDP: at or below 80% AMI. HDP Plus (NY/NJ): over 80% up to 120% AMI. HDP Wealth Builder (NY/NJ): at or below 120% AMI plus majority-minority census tract or first-generation criteria. Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

FHLBNY Homebuyer Dream Program (HDP) Suite 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.

FHLBNY Homebuyer Dream Program (HDP) Suite serves homebuyers purchasing anywhere in New York. The program gives priority to designated target areas, so the address matters as well as the county.

Applications for FHLBNY Homebuyer Dream Program (HDP) Suite go through Federal Home Loan Bank of New York (FHLBNY), 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.