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​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

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PREPARE FOR THE HOMEBUYER DREAM PROGRAM GRANT BY COMPLETING
YOUR HOME-BUYER EDUCATION class now
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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:

  • 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
The maximum income limits listed apply to home purchases in
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
Lauren Bachner: Ravena Office
Julie Reynolds: Voorheesville Office
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NYS TTY/TDD Relay: 7-1-1
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