Homebuyer Dream Grants

Homeownership means more than a place to live—it means building a future for yourself, your family and your community. With down payment assistance grants of varying amounts over the years, the Homebuyer Dream Program makes first-time homeownership attainable.

How It Works

Grant funding is available to qualifying members who plan to purchase a home with a Cooperative Federal mortgage in Central New York.

Get up to $25,000 in down payment and closing cost assistance, credited at the time of mortgage closing.*

How To Qualify

To be eligible for the Homebuyer Dream Program at Cooperative Federal, you must: ​​​​​

• Meet the maximum income limits.**

  • Homebuyer Dream Program Classic

    • Up to 80% Area Median Income (AMI)
    • $88,160 or less per year for 1+2 person households (2026)
    • $101,384 or less per year for 3+ person households (2026)

  • Homebuyer Dream Program Plus 

    • More than 80%, not to exceed 120% Area Median Income (AMI)
    • $88,160.01–$132,240/year for 1+2 person households (2026)
    • $101,384.01–$152,076/year for 3+ person households (2026)

  • Homebuyer Dream Program Wealth Builder​​​​​

    • Up to 120% Area Median Income (AMI)
    • Up to $132,240/year for 1+2 person households (2026)
    • Up to $152,076/year for 3+ person households (2026)

• Be a first-time homebuyer (have not owned a home in the past 3 years).

•  For Homebuyer Dream Program Wealth Builder, at least one of the homebuyers must meet the following eligibility criteria:

  • Currently reside in a majority minority census tract
  • The homebuyer is a first-generation homebuyer, as defined by one of the following:
    • Be aged out of foster care
    • Their parents do not currently own or have ever owned property in the United States
• Provide at least $1,000 toward your home purchase from a verifiable source (e.g. gift, income or savings).
• Complete homebuyer counseling and education requirements.
• Finance your home with a mortgage through Cooperative Federal.
• Be a Cooperative Federal member or qualify for membership.

Eligible Homes

For your home to be eligible for the Homebuyer Dream Program at Cooperative Federal, it must be within Cooperative Federal's Syracuse and Central New York service areas.

• 1-4 family dwellings
• Townhouses
• Condominiums
• Cooperative housing units
• Manufactured housing (must be affixed to a permanent foundation)

In the case of new construction, construction must be completed prior to closing, and member must ensure issuance of a Certificate of Occupancy. Ineligible properties include investment properties, vacation homes, and vacant land.

To learn more about the Homebuyer Dream Program, visit the Homebuyer Dream Program website or view the Federal Home Loan Bank of New York Guidelines 2026.The Homebuyer Dream Program is made possible through the Federal Home Loan Bank of NY (FHLB NY).

Related searches:

• Credit Builder Club

*All Credit Union loan programs, rates, terms, and conditions are subject to change at any time without notice. Contact us for current rates, terms, and conditions.

These requirements are subject to change and additional criteria may apply. Homebuyer Dream Program funds are available on a limited basis. There is no guarantee that funds will be available when your Reservation Request is submitted. Membership eligibility required.

**AMI limits are provided for illustrative purposes only, based on 2026 figures for Cayuga, Cortland, Madison, Onondaga and Oswego Counties, and are subject to change without notice. Contact us to verify current income limits to ask about income limits in other areas. 

This page was updated on 02/09/2026.