We’re excited to partner with the Federal Home Loan Bank of New York to offer grant funds for down payment and closing cost assistance, making homeownership more affordable for first-time homebuyers.
Eligible members may qualify through the following programs:
Homebuyer Dream Program (HDP)
For first-time buyers who have not owned a home in the past three years.
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Applies to primary residences in the continental U.S.
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Funds may be used for down payment and closing costs.
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Household income must be at or below 80% of Area Median Income (AMI).
Homebuyer Dream Plus Program (HDP Plus)
For first-time buyers earning more than 80% and up to 120% of AMI.
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Limited to eligible properties in New York and New Jersey.
Homebuyer Wealth Builder Program (HWB)
For first-time buyers who meet one of the following:
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Live in a majority-minority census tract OR are first-generation homebuyers (parents have never owned a home in the U.S.)
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Limited to eligible properties in New York and New Jersey.
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Household income must be 120% of AMI or below.
Program Requirements
Grant funds are limited and awarded on a first-come, first-served basis. Buyers must:
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Complete an accredited homeownership course
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Contribute at least $1,000 toward the purchase
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Meet income, credit, and all other program-specific eligibility requirements
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Agree to a five-year retention period (not required for HWB)
Get Started
Contact ABE’s mortgage team to check your eligibility and begin your path to homeownership.