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 Program® (HDP®)
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 any U.S. state or territory.
Homebuyer Dream Program® Plus (HDP® Plus)
HDP Plus 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 above 80%, but not exceeding 120% to 150%, of the Area Median Income (AMI) and purchasing homes in New York, New Jersey, Puerto Rico or the U.S. Virgin Islands.
