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.

Apply

The 2025 funding round begins on February 10, 2025.  

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 a grant, visit the Homebuyer Dream Program website or view the Federal Home Loan Bank of New York guidelines.*

How the 2024 Program Worked

To be eligible for the Homebuyer Dream Program at Cooperative Federal, applicants were:

• First-time homebuyer (did not own a home in the past 3 years).
• Met the 2024 maximum income limits *
  • Homebuyer Dream Program (traditional)
    • $82,960/year for 1+2 person households and $95,404/year for 3+ person households
  • Homebuyer Dream Program Plus
    • $124,440/year for 1+2 person households and $143,106/year for 3+ person households
• Provided at least $1,000 toward their home purchase from a verifiable source (e.g. gift, income or savings).
• Completed homebuyer counseling and education requirements.
• Purchased a home in the following locations:
  • Homebuyer Dream Program (traditional)
    • Cooperative Federal's Syracuse and Central New York service area
  • Homebuyer Dream Program Plus
    • A 2020 CDFI Tract in Central New York
• Financed your home with a mortgage through Cooperative Federal.

Participants received up to $20,000 (HDP traditional) or $17,500 (HDP Plus) 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).

This page was updated on 12/3/2024.

Related searches:

• Credit Builder Club

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.