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Homebuyer Dream Program®

Homebuyer Dream Program® (HDP) Reservation Request

2021 Homebuyer Dream Program® Round

The 2021 Homebuyer Dream Program® (HDP) Round is scheduled to open on May 3, 2021
with a total of $15.7 million in available grants funds.

We encourage you to review the 2021 HDP Virtual Training materials in preparation for the round:

 

HDP Virtual Training Webinar Video HDP Virtual Training Webinar Presentation

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 submitted by participating members. 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.