Homebuyer Dream ProgramTM (HDP) Reservation 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. 

New household reservation requests must be submitted to the FHLBNY by authorized Member representatives via the Bank’s Secure File Transfer Portal for households who meet eligibility requirements as established in the Homebuyer Dream Program Guidelines.    

To submit a new household reservation request, the Member must submit a fully executed Homebuyer Dream Program Request Form (in MS Excel format, containing the .xlsx file extension) selecting the New Household Reservation Request option. The Homebuyer Dream Program Request Form along with the following required documentation (in PDF format) must be submitted to the FHLBNY via the Secure File Transfer Portal as one Zip file per household:

  • Income documentation for all sources of income for each income earning adult in the household
  • Fully-executed Purchase and Sales Contract
  • Fully-executed Homebuyer Certification
  • Fully-executed Homeownership Counseling Certificate
  • Fully-executed Zero Income Certification form(s) for each member of the household with zero income
  • Fully-executed legal separation agreement or court papers filed for divorce (if applicable)

FHLBNY will review the completed household reservation requests on a first-come first-served basis. The submission of a household reservation request does not constitute a reservation or commitment of funds.

The FHLBNY will determine whether each household has met the Homebuyer Dream Program’s eligibility requirements, prior to commitment of funds. With FHLBNY’s approval of the household reservation request and required supporting documentation, the FHLBNY will issue an email to the Member confirming commitment of the grant for a 120 day period. The FHLBNY requires the closing and the reimbursement of funds to the Member to occur by the commitment expiration date.

Detailed program requirements are outlined within the Homebuyer Dream Program Guidelines.