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Homebuyer Dream Program®

Homebuyer Dream Program® (HDP) Reservation Request

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.

New household reservation requests must be submitted to the FHLBNY by authorized Member representatives via the FHLBNY’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.