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 up to $14,500, the Homebuyer Dream Program makes first-time homeownership attainable.


This year's funding round begins on January 8, 2024.  

For more information or a pre-screening appointment, email our program manager or call (315) 473-0231.

Get mortgage-ready by signing up for Homeownership Counseling with our HUD-certified program. 
Counseling participants get priority access to down payment grants. 

To learn more about the Homebuyer Dream Program and how to get up to $14,500 in grants, visit the Homebuyer Dream Program website  or view the Federal Home Loan Bank of New York guidelines.*

How it Works

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

  • Be a first-time homebuyer (have not owned a home in the past 3 years).
  • Meet income limits
    • 2024 maximum income limits: $82,960/year for 1+2 person households and $95,404/year for 3+ person households)*
    • Higher maximum income limits for the Homebuyer Dream Program® Plus: will be announced in March 2024. This will not affect the maximum income limits mentioned above.
  • 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.
  • Purchase a home in Cooperative Federal's service area (Syracuse and Central New York).
  • Finance your home with a mortgage through Cooperative Federal.

Participants receive up to $14,500 in down payment assistance, credited at the time of mortgage closing.

The Homebuyer Dream Program is made possible through the Federal Home Loan Bank of NY (FHLB NY).


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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.

*Income limits for Cayuga, Cortland, Madison, Onondaga and Oswego Counties. Contact us for information about income limits in other areas.