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
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.