Homebuyer Dream Program® Suite: Your Path to Affordable Homeownership Starts Here
Buying your first home is a major milestone—and we’re here to help make it more attainable. Through the Homebuyer Dream Program® Suite, eligible first-time homebuyers can receive up to $10,000 in grant funding to assist with:
- Down payment
- Closing costs
- Homebuyer counseling services
These grants are made available through the Federal Home Loan Bank of New York (FHLBNY) and are distributed on a first-come, first-served basis through approved member lenders like us.
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The HDP provides grant funding up to $10,000 to be used towards down payment, closing cost assistance, and homebuyer counseling services.
- Up to $10,000 in grant funding per borrower
- For households earning ≤ 80% of Area Median Income (AMI)
- Available for homes purchased in NYS
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HDP Plus is a complementary program to the existing annual Homebuyer Dream Program® Round and gives members earning more than 80% of the Area Median Income (AMI) the opportunity to acquire a grant.
- For households earning > 80% but ≤ 120% AMI (NY/NJ) or ≤ 150% AMI (PR/USVI)
- Available for homes purchased in NYS
- Up to $10,000 in grant funding per borrower
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Designed to address the wealth gap, HDP Wealth Builder provides grants to individuals and families who have historically experienced challenges accessing the credit or housing markets.
- For households earning ≤ 120% AMI (NY/NJ) or ≤ 150% AMI (PR/USVI)
- Must reside in a majority-minority census tract or be a first-generation homebuyer
- Available for homes purchased in NYS
- Up to $10,600 in grant funding per borrower
- Can be layered with HDP or HDP Plus for a maximum amount of $20,600 per eligible household
Key Dates & Requirements
- Application Period: September 8 – November 20, 2025
- Minimum Homebuyer Contribution: $1,000
- Homebuyer Counseling: Required for all grant recipients
- Home Retention Period: 5 years for HDP® only
Why Work With Our Lending Team?
Our experienced mortgage lending officers are here to guide you every step of the way—from determining your eligibility to helping you apply and secure your grant. We understand the nuances of these programs and are committed to helping you maximize your benefits while making informed financial decisions.
Ready to Take the Next Step?
Let’s talk about how the Homebuyer Dream Program® Suite can support your journey to homeownership. Contact one of our mortgage lending officers today to get started or to find out if you qualify.
Additional Opportunity to Save for Home Ownership
Becoming a homeowner is an exciting milestone, and one that we want to help you achieve with our special Mortgage Savings Account.

What to Expect with
an HVCU Mortgage
- Low down payment options
- Free pre-approvals
- Fast turnaround
- Low closing costs
- No mortgage pre-payment/payoff penalties
- In-house account servicing
- Local decision making
Additional Resources
- Mortgage Calculators
- Home Insurance
- Mortgage Accelerator Program (MAP)
Mortgage Accelerator Program
Our Mortgage Accelerator Program is a free service for fixed rate mortgages that offers a payment structure similar to a bi-weekly payment option. You can start or discontinue the program at will without the need or expense of refinancing your mortgage. To take advantage of MAP, please complete and return our MAP AutoPay form.How MAP Works
- Every two weeks, one half of your regularly scheduled mortgage payment is automatically deducted from your HVCU checking or savings account and deposited into a specially marked savings account (your Mortgage Accelerator Program account).
- On the first of each month your payment is “swept” from your MAP account and applied to your mortgage payment.
- After your mortgage payment is paid, additional funds and dividends are applied to your outstanding principal balance. In essence, twice per year your principal is reduced by one half payment.
- You can also choose to increase your payments for additional interest savings on your mortgage. Deposits can be made to your MAP account at any time.
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We Are Here To Help
Important Legal Disclosures & Information
For complaints and inquiries concerning your mortgage or home equity, please share your experience with us. You may also contact the New York State Department of Financial Services Consumer Assistance Unit at 800.342.3736 or by visiting the Department's website at www.dfs.gov.
* Registration in the Homebuyer Dream Program does not guarantee approval of any mortgage through Hudson Valley Credit Union. Homebuyer Dream Program and HDP are registered trademarks of the Federal Home Loan Bank of New York.
The tools and calculators on the HVCU website are provided for educational and illustrative purposes only. The accuracy of the calculations and their applicability to your financial circumstances are not guaranteed. HVCU does not provide tax, legal, accounting, financial, investment or other professional advice. The tools and calculators should not be used as a substitute for tax, legal, accounting, financial, investment or other professional advice. Your use of the tools or calculators does not assure the availability of, or your eligibility for, any specific product offered by HVCU or its affiliates. The terms and conditions of specific products may differ and affect the results obtained by using these tools and calculators. All financing is subject to credit approval. The default figures, amounts and information shown in the tools and calculators are hypothetical and may not be applicable to you. Please consult with qualified professionals to discuss your particular situation.
1 APY=Annual Percentage Yield. The APY is 0.02%, effective as of 10/1/2025, and is subject to change without notice. Account holder(s) is eligible to receive a lender credit of $1 for every $5 deposited up to a maximum of $1,000 toward closing costs when obtaining a mortgage loan through HVCU. Eligibility requires a separate Primary Savings membership account with a $5 minimum balance, a minimum opening deposit of $100, monthly deposits of $100 for a minimum of 10 months, and obtaining approval to close on an HVCU mortgage within 36 months of account opening. The lender credit is limited to one credit per mortgage and borrower may only receive the credit once. Withdrawal requests require the closing of the Mortgage Savings account. The Mortgage Savings account will automatically close and the balance will transfer to the member’s existing Primary Savings account. The closure will occur at the quarterly dividend posting following 36 months and the anniversary date of the original account opening. Lender credit amount is determined when a completed mortgage application is submitted and may be subject to change based on available mortgage programs. Fees may reduce earnings. May be subject to IRS reporting.