Homebuyer Dream Program®

Homebuyer Dream Program® (HDP) Overview

Thank you for your interest in the 2020 Homebuyer Dream Program® (HDP) Round, which will begin accepting reservation requests on June 1, 2020. The 2020 HDP round consists of a total of $12 million in available homeownership grants disbursed over approximately four funding periods. The 2020 funding periods will open at 8:30 a.m. ET on the following days:

Monday, June 1, 2020
Wednesday, July 1, 2020
Monday, August 3, 2020
Tuesday, September 1, 2020

Each month’s allocation amount and date of release is subject to change at the sole discretion of the FHLBNY.


The HDP forms and agreements are available under the HDP Forms and Agreements page, and the programmatic requirements are detailed in the 2020 HDP Guidelines and the AHP Implementation Plan.


The HDP reservations must be submitted via FHLBNY’s Secure File Transfer Protocol (SFTP) by members that have received prior confirmation of participation approval.

We look forward to working with you in support of low–moderate income first-time homebuyers.

The HDP is a set-aside program managed within regulatory requirements established by the Federal Housing Finance Agency (FHFA) 12 C.F.R. Part 1291, as may be amended from time to time (AHP Regulation). 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.

We provide homeownership assistance for up to $15,000. The maximum grant amount that a household may receive is up to $14,500, as determined by the FHLBNY member. Additionally, the Homebuyer Dream Program® also offers up to $500 towards the defrayment of homeownership counseling costs which will be provided for the use of the household via the member to the non-profit housing agency. The amount of the defrayment will be added to the grant.

The HDP is administered as an annual round on a first-come, first served basis.

By offering the HDP in your institution, some of the advantages and benefits include:


Creating homeownership opportunities in members’ communities


Increasing your residential lending opportunities


Enhancing public relations


Improving CRA credit