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Homebuyer Dream Program

Making Home Ownership More Affordable

Homebuyer Dream Program 1

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All of GRB’s allotted spaces for the Homebuyer Dream Program 2021 have been filled. We are unsure if further allotments will be made available by the Federal Home Loan Bank of New York (FHLBNY). Check back for updates.

GRB participates in a number of special promotions and lending programs designed to make the dream of owning a home more accessible.

GRB and the Federal Home Loan Bank of New York (FHLBNY) work together to provide grant assistance to qualified first-time homebuyers. The Homebuyer Dream ProgramTM provides grants of up to $10,000 towards the purchase of a home in New York.

Homebuyer Dream Program Eligibility

  • Must be first-time homebuyers (have not owned a home individually or with a spouse in the last three years)
  • Reside and purchase a home in New York
  • Have a household income at or below 80% of area median income
  • Complete an accredited homeownership course
  • Meet the income and credit requirements for the program
  • Have the minimum equity contribution of $1,000 toward purchase of the home
  • Remain in the home for five years or repay a portion of the grant funds back to FHLBNY

Important information

  • Up to $9,500 in grant funding is available to be applied to down payment and closing costs
  • Up to $500 in grant funding is available to offset the cost of the homeownership course

Find Out If You Qualify

  • Fill out this form and a GRB Mortgage Originator will contact you within one business day to answer any questions on Homebuyer Dream Program or other mortgage loan options. Fields marked with an * are required.

    Please do not include any non-public personal or sensitive information (such as SSN, account numbers, or income), as email messages may not be secure and/or confidential. Users must be of legal age to enter into a contract to begin the mortgage application process.

  • This field is for validation purposes and should be left unchanged.

* The Homebuyer Dream Program is a registered trademark of the Federal Home Loan Bank of New York. Additional program details will be forthcoming. Please work with your GRB Mortgage Loan Originator to discuss your specific situation.