Homebuyer Dream Programs

The Federal Home Loan Bank of NY Homebuyer Dream Programs provide grants that first time home buyers can use towards down payment and closing cost assistance. TSB is one of a limited number of financial institutions that can offer this program.

TSB offers all three levels of the Homebuyer Dream Program.

Program Requirements:

  • Must be a first-time home buyer. 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 home ownership counseling through one of the following counseling agencies prior to program enrollment:
  • Home buyer(s) must provide a minimum equity of $1,000 toward the purchase of the home.

Homebuyer Dream Program

  • Grants toward down payment and closing costs.
  • Available for home buyers with a household total income at or below the 80% Area Median Income (AMI) adjusted for household size.
  • Must be owner-occupied, primary residence.
  • Recapture if home is sold within 5 years.

Homebuyer Dream Program +

  • Grants toward down payment and closing costs.
  • Available for home buyers with a household total income between 80 – 120% Area Median Income (AMI), but not to exceed 120% adjusted for household size.
  • Must be owner-occupied, primary residence.

Wealth Builder Program

  • Grants toward down payment and closing costs.
  • Available for home buyers with a household total income between 120 – 150% Area Median Income (AMI), adjusted for household size.
  • Must be owner-occupied, primary residence.
  • Can be layered with the Homebuyer Dream or Homebuyer Dream Program +.

Get Started on Your First Time Homebuyer Grant Today!

 

Contact TSB For Your First Home!

  • This field is for validation purposes and should be left unchanged.

  • Contact Information

  • Property Information

  • Please do not include confidential information such as your account number, credit card number, or social security number.

 

The FHLBNY and TSB 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.