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Homebuyer Dream Program and Homebuyer Dream Program Plus

 

Seneca Savings and the Federal Home Loan Bank of New York (FHLBNY) work together to provide grant assistance to qualified first-time home buyers. Buyers may qualify for up to $20,000 toward the closing costs and down payment of your home.

 

 

Eligibility Requirements:

  • Must be a first-time homebuyer. This is generally defined as not having owned a home individually or with a spouse in the last three years.
  • Meet the income and credit requirements for the program
  • Provide at least $1,000 toward your home purchase from a verifiable source
  • Require to remain in the home for five years or repay a portion of the grant funds back to FHLBNY*
  • Complete an acceptable home buyer counseling program
These requirements are subject to change and additional criteria may apply per the FHLBNY.
*Qualification of Homebuyer Dream Program only, does not apply to Homebuyer Dream Program Plus.

 

HDP Wealth Builder

Seneca Savings and the Federal Home Loan Bank of New York (FHLBNY) work together to provide grant assistance to qualified first-time home buyers. Buyers may qualify for up to $10,600 toward the closing costs and down payment of your home.

**Eligibility Requirements:

  • Must be a first-time homebuyer. This is generally defined as not having owned a home individually or with a spouse in the last three years.
    • Who either reside in a majority-minority census tract
    • Or, qualify as a First-Generation Homebuyer
  • Have a household at or below 120% area median income
  • Mee the income and credit requirements for the program
  • Provide at least $1,000 toward your home purchase from a verifiable source
  • Complete an acceptable home buyer counseling program
**These requirements are subject to change and additional criteria may apply per the FHLBNY.

All programs are offered on a first-come, first serve basis to eligible buyers. There is no guarantee that funds will be available when your Reservation Request is submitted.

To learn more about the Homebuyer Dream Programs, visit the FHLBNY website.