ESL is now accepting Homebuyer Dream Program (HDP) grant reservation requests, for submissions to the Federal Home Loan Bank of New York (FHLBNY). Current program eligibility requirements are subject to change by the FHLBNY, please check back for updated information.
Reservation requests into the HDP are limited each year and are available on a first-come, first-served basis to eligible buyers.
The 2026 Homebuyer Dream Program is made available through the Federal Home Loan Bank of New York, and eligible borrowers have potential to receive up to $15,000 (per household) in grant dollars. These funds must be used for down payment and closing cost assistance.
How to Get Started
Speak with an ESL Mortgage Originator
Interested members should reach out to an ESL Business Development Mortgage Originator (585.336.1502) and get prequalified or submit an application to purchase their first home. Having a fully executed Purchase and Sales Contract on your first home and completing a homeownership counseling course is required prior to requesting a reservation into the Homebuyer Dream Program.
Eligibility Requirements
To enroll in the HDP program, you must meet the following requirements prior to ESL requesting a reservation request for you into the Homebuyer Dream Program.
- 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.
- Provide a fully executed Purchase and Sales contract on a home.
- Complete homeownership counseling through one of the following counseling agencies prior to program enrollment:
- Homebuyer(s) must provide a minimum equity of $1,000 toward the purchase of the home.
- Household total income must be at or below the 80% Area Median Income (AMI) adjusted for household size.
- Homebuyer(s) must agree to reside at the subject property for five years or repay a prorated portion of the Grant back to the Federal Home Loan Bank of New York.
Income Limits & Mortgage Eligible Counties
Total household income, adjusted for household size, must be at or below the 80% Area Median Income (AMI) for the County in which the household is being purchased (last updated, effective September 2025). Maximum income limits and eligible counties within the state of New York are as follows:
