Housing Programs
The FHLBNY is committed to providing affordable housing opportunities to families and communities through our members.
Note: The FHLBNY does not offer funding directly to homeowners or organizations. For more information on AHP, visit the AHP section. First-time homebuyers interested in the HDP® programs must contact an approved member to determine eligibility.
Affordable Housing Program (AHP)
AHP provides subsidized advances and grants to our members to help households earning 80% or less of the Area Median Income purchase or maintain their homes. It also enables organizations to purchase, rehabilitate, or construct apartment buildings in which at least 20% of the units are affordable to households earning 50% or less of the area median income.
Homebuyer Dream Program® (HDP®)
HDP provides funds in the form of a grant to be used towards down payment and closing cost assistance to first-time homebuyers earning at or below 80% of the Area Median Income and purchasing homes in any U.S. state or territory.
Homebuyer Dream Program® Plus (HDP® Plus)
HDP Plus provides funds in the form of a grant to be used towards down payment and closing cost assistance to first-time homebuyers earning above 80%, but not exceeding 120% to 150%, of the Area Median Income and purchasing homes in New York, New Jersey, Puerto Rico or the U.S. Virgin Islands.
COMING 2025: Homebuyer Dream Program® Wealth Builder (HDP® Wealth Builder)
HDP Wealth Builder, a new Special Purpose Credit Program, provides funds in the form of a grant to be used towards down payment and closing costs to first-time homebuyers who currently live in majority-minority census tracts in our district or who qualify as first-generation homebuyers.
