The Federal Home Loan Bank of New York’s Homebuyer Dream Program® 2022 Round is available March 21st – August 26th. (After this time period, additional funds may be available effective September 2nd but is not guaranteed – contact us to confirm.)

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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