The Federal Home Loan Bank of New York’s Homebuyer Dream Program® 2022 Round is now closed.  As soon as we have updated information for the 2023 Program we will provide the information.  As always, please contact us with any questions by phone or text to (716) 632-9328.

What is the Homebuyer Dream Program?

This is a $10,000 grant program offered to eligible first time home buyers. Grant money can be used to pay up to $9,500 towards down payment and closing costs and $500 as credit towards an approved homeowner counseling program.  Don’t delay…the Homebuyer Dream Program is granted on a first come, first serve basis through the Federal Home Loan Bank of New York,  of which Western Division FCU is a member.

What do I have to do to be eligible for this program?

  • Talk to one of our mortgage consultants about a pre-approval
  • Must be purchasing a home within our lending area
  • Work a minimum of 32 hours a week
  • Be a qualified first-time home buyer (someone who has not owned a home in the last 3 years)
  • Have a minimum of $1,000 equity contribution toward the purchase of the home
  • Complete an approved home ownership course
  • Purchase an eligible property: 1-4 family house, condominiums, or a manufactured home permanently affixed to a foundation.
  • Meet income requirements (80% or below of the Area Medium Income for the county in which the home is being purchased).
  • Be under contract to purchase a home at time of application
  • Agree to remain in the purchased home for 5 years

What you would need to get started:

When you are ready to apply use the link below.  You can start the application before you have a contract in place, so that you can get a pre-approval to begin shopping. (We just cannot submit the grant request until you have entered into a sales contract.)

  • Income documentation for all sources of income for each income earning adult in the household.
  • Fully executed HDP Zero Income Certification form(s) for each Member of the household, 18 years and older, with zero income.  (We provide this document, if applicable.)
  • Fully executed HDP Homebuyer Certification.  (We provide this document.)
  • Fully executed homeownership counseling certificate. (We can help you obtain PRIOR to application.)
  • Fully executed Purchase and Sales Contract.
  • Fully executed legal separation agreement or court papers filed for divorce (if applicable).


Call or Text (716) 632-9328 for current rates and information

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