• Must be a first-time homebuyer defined as:
  • An individual who has had no ownership in a principal residence during the 3-year period ending on the date of the purchase of the property, including a spouse.
  • A single parent who has only owned a principal residence with a former spouse while married.
  • An individual who is a displaced homemaker and has only owned a principal residence with a spouse.
  • An individual who has only owned a principal residence not permanently affixed to a permanent foundation in accordance with applicable regulations.
  • An individual who has only owned a property that was not in compliance with state, local, or model building codes and could not be brought into compliance for less than the cost of constructing a permanent structure.
• Must be purchasing in Sullivan, Orange, Ulster, or Delaware Counties in New York
• Have a total household income that is at or below 80% of the Area Median Income for the county in which the household is being purchased:
  • Sullivan County, 1 or 2 person household up to $84,160 and 3+ person household up to $96,784.
  • Orange County, 1 or 2 person household up to $91,840 and 3+ person household up to $105,616.
  • Ulster County, 1 or 2 person household up to $89,360 and 3+ person household up to $102,764.
  • Delaware County, 1 or 2 person household up to $84,160 and 3+ person household up to $96,784.
• Eligible properties include 1-4 family dwellings, townhouses, condominiums, or manufactured homes affixed to a permanent foundation
• Must demonstrate a reliable source of income including full-time employment (greater or equal to 32 hours a week), pension, disability award, social security, Individual Retirement Accounts, or other recurring sources
• Complete an accredited homeownership counseling course
• Contribute a minimum equity contribution of $1,000 toward purchase of the home
• Commit to a five (5) year retention period or repay a portion of the grant funds back to FHLBNY
• Up to $30,000 available in grant funding per eligible households

• Must be a first-time homebuyer defined as:
  • An individual who has had no ownership in a principal residence during the 3-year period ending on the date of the purchase of the property, including a spouse.
  • A single parent who has only owned a principal residence with a former spouse while married.
  • An individual who is a displaced homemaker and has only owned a principal residence with a spouse.
  • An individual who has only owned a principal residence not permanently affixed to a permanent foundation in accordance with applicable regulations.
  • An individual who has only owned a property that was not in compliance with state, local, or model building codes and could not be brought into compliance for less than the cost of constructing a permanent structure.
• Must be purchasing in Sullivan, Orange, Ulster, or Delaware Counties in New York
• Have a total household income that is between 80% and 120% of the Area Median Income for the county in which the household is being purchased:
  • Sullivan County, 1 or 2 person household between $84,160.01 and $126,240. 3+ person household between $96,784.01 and $145,176.
  • Orange County, 1 or 2 person household between $91,840.01 and $137,760. 3+ person household between $105,616.01 and $158,424.
  • Ulster County, 1 or 2 person household between $89,360.01 and $134,040. 3+ person household between $102,764.01 and $154,146.
  • Delaware County, 1 or 2 person household between $84,160.01 and $126,240. 3+ person household between $96,784.01 and $145,176.
• Eligible properties include 1-4 family dwellings, townhouses, condominiums, or manufactured homes affixed to a permanent foundation
• Must demonstrate a reliable source of income including full-time employment (greater or equal to 32 hours a week), pension, disability award, social security, Individual Retirement Accounts, or other recurring sources
• Complete an accredited homeownership counceling program
• Contribute a minimum equity contribution of $1,000 toward purchase of the home
• Up to $17,500 available in grant funding per eligible households

• Must be a first-time homebuyer defined as:
  • An individual who has had no ownership in a principal residence during the 3-year period ending on the date of the purchase of the property, including a spouse.
  • A single parent who has only owned a principal residence with a former spouse while married.
  • An individual who is a displaced homemaker and has only owned a principal residence with a spouse.
  • An individual who has only owned a principal residence not permanently affixed to a permanent foundation in accordance with applicable regulations.
  • An individual who has only owned a property that was not in compliance with state, local, or model building codes and could not be brought into compliance for less than the cost of constructing a permanent structure.

AND

• Reside in a majority-minority census tract or qualify as a First-Generation Homebuyer defined as a homebuyer who has aged out of foster care or whose parents do not currently own or have ever owned property in the United States
• Must be purchasing in Sullivan, Orange, Ulster, or Delaware Counties in New York
• Have a total household income that is at or below 120% of the Area Median Income for the county in which the household is being purchased:
  • Sullivan County, 1 or 2 person household at or below $126,240. 3+ person household at or below $145,176.
  • Orange County, 1 or 2 person household at or below $137,760. 3+ person household at or below $158,424.
  • Ulster County, 1 or 2 person household below $134,040. 3+ person household at or below $154,146.
  • Delaware County, 1 or 2 person household at or below $126,240. 3+ person household at or below $145,176.
• Up to $26,500 available in grant funding per eligible households
• This program can be layered with either Homebuyer Dream or Homebuyer Dream Plus programs and must meet all additional requirements of the program being layered.