New York, NY — The Federal Home Loan Bank of New York (“FHLBNY”) announced today that $93.8 million in housing grant funds is now available through the 2026 rounds of its Affordable Housing Program (“AHP”) and Homebuyer Dream Program®. The funding for these programs, which help address housing affordability, create additional housing supply and create homeownership opportunities, are allocated directly from the FHLBNY’s earnings.
“At the Federal Home Loan Bank of New York, we take great pride in our role as a trusted source of funding for housing initiatives across our region,” said Randolph C. Snook, president and CEO of the FHLBNY. “The grant funds we announce today reflect our continued commitment to working with our members and housing partners to drive housing opportunity, helping to create the foundation from which stronger individuals, families and communities grow.”
The FHLBNY sets aside at least 10 percent of its income each year in the form of AHP General Fund and Homeownership Set Aside program grants. For the 2026 rounds, the FHLBNY has made $62.1 million available through the AHP and $31.7 million available through its suite of Homebuyer Dream Program offerings.
AHP grant funds are awarded to members that submit applications on behalf of project sponsors that are planning to purchase, rehabilitate, or construct affordable homes or apartments. These funds are awarded through a competitive process which takes place once a year. The FHLBNY will announce the 2026 AHP grants this summer.
The Homebuyer Dream Program suite provide grants through members that help cover down payment, closing costs and homebuyer counseling services for eligible homebuyers who meet certain income and additional criteria as defined by program parameters.
All grants and funding opportunities are provided through FHLBNY members. The FHLBNY does not provide grants or loans directly to consumers.
In 2025, the FHLBNY made a record $150.4 million in funding support available for affordable housing and community development efforts through a variety of targeted products and programs, including the AHP and Homebuyer Dream Program. Throughout 2026, the FHLBNY will continue to make funding available to help address housing affordability, create additional housing supply, and support local small businesses.
About the Federal Home Loan Bank of New York
The Federal Home Loan Bank of New York is a Congressionally chartered, wholesale Bank. It is part of the Federal Home Loan Bank System, a national wholesale banking network of 11 regional, stockholder-owned banks. As of December 31, 2025, the FHLBNY serves 339 member institutions in New Jersey, New York, Puerto Rico, and the U.S. Virgin Islands. The Federal Home Loan Banks support the efforts of local members to help provide financing for America’s homebuyers.