Homebuyer Dream Program®

Currently, we are not accepting any new reservation requests for the Homebuyer Dream Program. Reservation requests are limited each year and ESL has reached the funding maximum for the 2025 calendar year. ESL anticipates having a 2026 Homebuyer Dream Program, pending availability from the Federal Home Loan Bank of New York (FHLBNY). Program details will be made available in advance. Please check back for updated information later this year.

Reservation requests into the HDP are limited each year and are available on a first-come, first-served basis to eligible buyers.

The 2025 Homebuyer Dream Program is made available through the Federal Home Loan Bank of New York, and eligible borrowers have potential to receive up to $20,000 (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. Maximum income limits and eligible Counties within the state of New York are as follows:

County Household Size
1 & 2 Person(s) 3+ Persons
Albany $89,760 $103,224
Allegany $82,960 $95,404
Broome $82,960 $95,404
Cattaraugus $82,960 $95,404
Cayuga $82,960 $95,404
Chautauqua $82,960 $95,404
Chemung $82,960 $95,404
Chenango $82,960 $95,404
Clinton $82,960 $95,404
Columbia $82,960 $95,404
Cortland $82,960 $95,404
Delaware $82,960 $95,404
Erie $82,960 $95,404
Essex $82,960 $95,404
Franklin $82,960 $95,404
Fulton $82,960 $95,404
Genesee $82,960 $95,404
Greene $82,960 $95,404
Hamilton $82,960 $95,404
Herkimer $82,960 $95,404
Jefferson $82,960 $95,404
Lewis $82,960 $95,404
Livingston $82,960 $95,404
Madison $82,960 $95,404
County Household Size
1 & 2 Person(s) 3+ Persons
Monroe $82,960 $95,404
Montgomery $82,960 $95,404
Niagara $82,960 $95,404
Oneida $82,960 $95,404
Onondaga $82,960 $95,404
Ontario $82,960 $95,404
Orleans $82,960 $95,404
Oswego $82,960 $95,404
Otsego $82,960 $95,404
Rensselaer $89,760 $103,224
St. Lawrence $82,960 $95,404
Saratoga $89,760 $103,224
Schenectady $89,760 $103,224
Schoharie $89,760 $103,224
Schuyler $82,960 $95,404
Seneca $82,960 $95,404
Steuben $82,960 $95,404
Tioga $82,960 $95,404
Tompkins $84,880 $97,612
Warren $82,960 $95,404
Washington $82,960 $95,404
Wayne $82,960 $95,404
Wyoming $82,960 $95,404
Yates $82,960 $95,404

Disclaimer

The FHLBNY and ESL reserve the right to change the terms and conditions at any time, without prior notice. The Household also fully understands that the limited funds are available on a first-come, first-served basis and even if the Household meets all of the terms and conditions this does not guarantee that there may be funds available at the time that the Household qualifies. The FHLBNY, in its sole discretion, may refuse to honor a Homebuyer Dream Program funding request. The Household further agrees that any proceeds, which will not be, or cease to be, used for the purposes approved by the FHLBNY will be recaptured and the unused, or improperly used, grant will be returned to the FHLBNY. The Household will also acknowledge receipt of a copy of these terms and conditions.

Additional Resources

Homebuyer Dream Program is a service mark of the Federal Home Loan Bank of New York.