Homebuyer Dream Program® (HDP®)
Find out if you qualify to apply for this first-time homebuyer grant of up to $9,500!
HOW?
For more information on how to apply, please contact one of our
Home Ownership Advisors TODAY
For contact information, scroll to the bottom of this page or click http://www.acrha.org/contact.html
Find out if you qualify to apply for this first-time homebuyer grant of up to $9,500!
HOW?
For more information on how to apply, please contact one of our
Home Ownership Advisors TODAY
For contact information, scroll to the bottom of this page or click http://www.acrha.org/contact.html
PREPARE FOR THE HOMEBUYER DREAM PROGRAM GRANT BY COMPLETING
YOUR HOME-BUYER EDUCATION class now
YOUR HOME-BUYER EDUCATION class now
Click on Icon To Register &
be sure to use our coupon
code: SAVEME10 for $10 off
the cost of the class.
All applicants must meet the following requirements to apply:
Current maximum income eligibility as of August 2020 is as follows:
Albany, Rensselaer, Saratoga, and Schenectady Counties
Note: The homebuyer(s) must agree to maintain ownership of and reside in the property as the primary residence for a period of five years from the closing date or repay a prorated amount of the HDP grant, or any other remedies authorized by the AHP Regulation. If the homebuyer(s) owns the home for the full five-year term, the grant is forgiven at the end of the retention period.
In the Capital District there are 8 participating lenders:
For more information and a complete list of participating lenders, visit:
https://www.fhlbny.com/community/housing-programs/hdp/participating-members
- Applicant must be a first time homebuyer, per HUD’s definition (See program guidelines link).
- Complete a HUD-certified homebuyer education course and receive certificate.
- Have minimum personal savings of $1,000.
- Be ready to purchase and have a contract agreement for an eligible property type: 1-4 family home, Condominium, Cooperative, or Manufactured home permanently affixed to a foundation (2-4 Family Units must include 75% of projected rental income).
- Household Annual Gross Income must be less than 80% of the NYS Mortgage Revenue Bonds Median
Current maximum income eligibility as of August 2020 is as follows:
- $77,600 if you are a 1 or 2 person household
- $89,240 if you are a household of 3 or more people
Albany, Rensselaer, Saratoga, and Schenectady Counties
Note: The homebuyer(s) must agree to maintain ownership of and reside in the property as the primary residence for a period of five years from the closing date or repay a prorated amount of the HDP grant, or any other remedies authorized by the AHP Regulation. If the homebuyer(s) owns the home for the full five-year term, the grant is forgiven at the end of the retention period.
In the Capital District there are 8 participating lenders:
- M&T Bank
- SEFCU
- Sunmark FCU
- NBT Bank
- FIRST NATIONAL BANK OF SCOTIA
- Capital Communications FCU
- Saratoga National Bank & Trust Co.
- gLENS FALLS NB & TRUST
For more information and a complete list of participating lenders, visit:
https://www.fhlbny.com/community/housing-programs/hdp/participating-members
Interested In Applying for the Homebuyer Dream Program?
For more information on how to apply, please contact one of our Home Ownership Advisors
