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Homebuyer Dream Program® Plus

Homebuyer Dream Program® Plus (HDP® Plus) Overview

The inaugural 2024 Homebuyer Dream Program® Plus (HDP® Plus)
Round is now open.

There is a total of $10.3 million in available grant funds, with 103 members participating to make it possible for moderate-income first-time homebuyers to purchase a home.

For more information on how to enroll eligible households or submit funding requests, view our Training & Webinar Materials.

The Federal Home Loan Bank of New York (FHLBNY) is excited to launch the Homebuyer Dream Program® Plus (HDP® Plus) Round. This new program was created to further our efforts to increase access to homeownership for households in our District, and is a complementary program to our existing annual Homebuyer Dream Program® Round. HDP Plus will give our members the opportunity to provide grant funds to households earning greater than 80%of the Area Median Income (AMI).

Key elements of HDP Plus:

  • The maximum grant amount will be $19,500 per household with an additional $500 towards defrayment of nonprofit counseling agency costs for a maximum amount of $20,000
  • Participating members may offer HDP Plus to households that meet the following income thresholds:
    • New York and New Jersey: earning over 80% AMI, but not to exceed 120% AMI
    • Puerto Rico and U.S. Virgin Islands: earning over 80% AMI, but not to exceed 150% AMI
  • HDP Plus may only be administered within the FHLBNY District

Key Contacts

HDP
HDP@fhlbny.com
Relationship Managers
(212) 441-6700
FHLBNY@fhlbny.com

2024 HDP Plus
Key Dates

  • February 9 – HDP Plus Enrollment Deadline
  • March 18 – HDP Plus Round Opens
  • August 30 – Initial allotment period ends
  • September 4 – Redistribution of unreserved allotments.*
  • November 29 – HDP Plus Round Closes (may close earlier if funds are exhausted)

*The FHLBNY cannot guarantee all members with exhausted allotments will receive additional funds or that additional funds will become available.