You are here

Homebuyer Dream Program

Are you a first-time homebuyer? Could you use up to $9,500 to buy a home of your own? Make it happen with Cooperative Federal's Homebuyer Dream Program. For more information or a pre-screening appointment, email our program manager or call (315) 473-0231.

Note: Applications are closed for 2022. Get mortgage-ready (and be first in line for next year's grand round) by signing up for Homeownership Counseling with our HUD-certified program.

To learn more about the Homebuyer Dream Program and how to get up to $9,500 in grants, visit the Homebuyer Dream ProgramTM website  or view the Federal Home Loan Bank of New York guidelines.*

How it Works

To be eligible to enroll in the Homebuyer Dream Program through Cooperative Federal, you must:

  • Be a first-time homebuyer (have not owned a home in the past 3 years).
  • Meet income limits ($69,680 annual income for 1+2 person households and $80,132 annual income for 3+ person houseolds).
  • Provide at least $1,000 toward your home purchase from a verifiable source (e.g. gift, income or savings).
  • Complete homeownership counseling and education requirements.
  • Purchase a home in Cooperative Federal's service area (Syracuse and Central New York).
  • Finance your home through Cooperative Federal. 

These requirements are subject to change and additional criteria may apply. 

After you have purchased your home, you can continue to work with our housing & credit advisors to help you plan for home maintenance and repairs, stay on track with your budget, and more. If you have trouble keeping up with payments, let us know right away so we can help you get back on track!

Contact Us Now!


Q. Why does Cooperative Federal give away this money?

A. Cooperative Federal is a non-profit, community development credit union. Our mission is to rebuild the local economy in ways that foster justice and to create financial strength among households and communities with modest means. Homeownership is one of the most effective strategies for strengthening neighborhoods and creating intergenerational wealth.

Q. What kind of mortgages do you offer?

A. Cooperative Federal offers a wide range of mortgage products, with flexible underwriting standards. Read about our mortgage options here. We specialize in serving low- and moderate-income homebuyers and first-time homebuyers, including immigrants and refugees. Our staff will match you with a mortgage that suits your needs.

*Homebuyer Dream Program funds are distributed on a first come first serve basis. There is no guarantee that funds will be available when your Reservation Request is submitted. Membership eligibility required. Members must meet qualification requirements, be a first-time home buyer, and receive a mortgage through Cooperative Federal. Loan approval based on creditworthiness. NMLS #244957. Coop Fed is not responsible for content on third party websites.