Housing Programs

The FHLBNY is committed to providing affordable housing opportunities to families and communities through our members.

Affordable Housing Program (AHP)
AHP provides subsidized advances and grants to our members to help households earning 80% or less of the area median income purchase or maintain their homes. It also enables organizations to purchase, rehabilitate, or construct apartment buildings in which at least 20% of the units are affordable to households earning 50% or less of the area median income.

Homebuyer Dream ProgramTM (HDP)
The HDP provides funds in the form of a grant to be used towards down payment and closing cost assistance to first-time homebuyers earning at or below 80% of the Area Median Income (AMI) and purchasing homes in New York, New Jersey, Puerto Rico or the U.S. Virgin Islands.  

First Home Clubsm  (FHC)
The FHC is a first-time homebuyers program that provides grants of up to $7,500 to help households earning 80% or less of the area median income overcome the financial difficulties of purchasing a home. The FHC Program will no longer accept household submissions after March 31, 2019 as the FHLBNY transitions to the Homebuyer Dream Program.

Note: The FHLBNY does not offer funding directly to homeowners or organizations. For more information on AHP, visit the general program FAQ section. First-Time Homebuyers interested in HDP, should check if they are eligible or contact an approved member so they can determine eligibility and enroll you in the program.

Quick Links

Housing and Community Lending Quick Reference Guide

AHAC Annual Report 2017

Community Lending Plan 2018

Community Lending Plan 2019

Program Deadlines

The deadline for the
2019 Competitive AHP Round Application is
April 12, 2019.

FHC offers monthly enrollment periods due the 10th of each month or the following applicable business day.

Success Stories

View AHP Success Stories

View FHC Success Stories