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.
This year, program participants can receive up to $20,000 (Classic), $8,750 (Plus), or $5,300 (Wealth Builder) in down payment assistance, credited at the time of mortgage closing. Classic and Wealth Builder can be combined when you meet requirements for both programs.
Finance your home with a Cooperative Federal mortgage and apply for a grant. If you need to repair credit or want to learn more about homeownership readiness, consider speaking to a Housing Counselor before applying.
You must complete Steps 2 and 3 to be eligible for a Homebuyer Dream Grant which funds are credited at the time of mortgage closing.
Cooperative Federal offers an online Homebuyer Education Course in partnership with eHome America.
The Homebuyer Education Course takes 5 to 6 hours to complete, but you can stop and start as needed. If you can get online, you can work on your course any time, anywhere.
This program helps first-time homebuyers:
Ask us for a code for a FREE course (available on a limited basis).
Get mortgage-ready by signing up for Homeownership Counseling with our HUD-certified program. Counseling participants get priority access to down payment grants.
Housing Counseling helps you:
For more information or a pre-screening appointment, email our program manager or call (315) 473-0231.
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:
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.* The Homebuyer Dream Program is made possible through the Federal Home Loan Bank of NY (FHLB NY).
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.
*Income limits for Cayuga, Cortland, Madison, Onondaga and Oswego Counties. Contact us for information about income limits in other areas.
This page was updated on 2/28/2025.