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 $9,500, the Homebuyer Dream Program makes first-time homeownership attainable.

Apply

This year's funding round begins on March 27, 2023.  

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 $9,500 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
  • 2022 income limits: $68,080/year for 1+2 person households and $78,292/year for 3+ person households)
  • 2023 income limits: To be announced
• 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 $9,500 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).

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.