Homebuyer Dream Program® Opens in February 2026

With the support of the FHLBNY, eligible members may receive funds that help cover down payment, closing costs, and homebuyer counseling services. Grants are awarded on a first-come, first-served basis.
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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 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.

  • The HDP provides grant funding to be used towards down payment, closing cost assistance, and homebuyer counseling services.

    • For households earning ≤ 80% of Area Median Income (AMI)
    • Available for homes purchased in NYS

  • 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

  • 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
    • Can be layered with HDP or HDP Plus for a maximum amount of $20,600 per eligible household

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

Earn Up To $1,0001 Off Closing Costs with an HVCU Mortgage Savings Account

Becoming a homeowner is an exciting milestone, and one that we want to help you achieve with our special Mortgage Savings Account.
  • By saving as little as $100 a month, you can earn up to $1,0001 towards your closing costs when you finance your mortgage with HVCU
  • You'll earn $1 for every $5 deposited, up to that $1,0001 maximum
  • Account must be open for ten months
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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)


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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 12/1/2025, 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.