Homebuyer Dream ProgramTM (HDP) Funding Request

The 2019 Homebuyer Dream ProgramTM Round is now closed.

Thank you for participating in the first Homebuyer Dream ProgramTM and for helping low- and moderate-income first-time homebuyers achieving the dream of homeownership. Our new program has received significant support from our membership and, effective 07/30/2019 at 3:00p.m., all available HDP funds have been fully exhausted.

We are proud to support our members’ contributions to homeownership, and we look forward to creating even more opportunities through the next HDP Round. 

Grant funds under the HDP are disbursed to the member on a post-closing basis. The FHLBNY requires the closing and the reimbursement of funds to the Member to occur within the 120 day commitment period. Funding requests should be submitted to the FHLBNY no later than fifteen (15) days prior to commitment expiration.

The member will need to submit a Homebuyer Dream Program Request Form (in MS Excel format, containing the .xlsx file extension) selecting the Funding Request option. The Homebuyer Dream Program Request Form along with the following documentation (in PDF format) must be submitted to the FHLBNY via the Secure File Transfer Portal as one Zip file per household:

  • Closing Disclosure
  • Subordinate Mortgage
  • Certification of Intent to Record
  • Promissory Note (applicable to Puerto Rico and US Virgin Islands only)
  • Declaration of Restrictive Deed Covenant (applicable to FHA financing)

The grant under the Homebuyer Dream Program is disbursed to the member’s Overnight Investment Account, upon review and approval by FHLBNY of the Homebuyer Dream Program Request Form and all supporting documentation.