Homebuyer Dream Program

Making Home Ownership More Affordable

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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 $15,000 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 (i.e., in Monroe and Onondaga counties up to $65,760 for 1- and 2-person households, up to $75,624 for 3+ person households. Median income numbers are current as of 11/2019)
  • 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 $14,500 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

Program Update for 2020

The FHLBNY distributed all of its funding in 2019, and is preparing to rollout the HDP program for 2020 at the beginning of June. Genesee Regional Bank is pleased to report it helped more than 100 individuals and families qualify for a grant and purchase a home in our region. We are currently beginning to work with potential homebuyers in preparation for the FHLBNY’s 2020 funding rounds.

Please fill out the form below so we can help ensure you are in a position to purchase a home and apply for a grant when the next funding round launches in 2020.

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.