For many first-time buyers, the journey to homeownership can feel overwhelming — from rising prices to saving for a down payment. That’s where the Federal Home Loan Bank’s (FHLB) Homebuyer Dream Program® (HDP) comes in. This program offered through Crest Savings Bank is designed to help make that dream more achievable by offering financial assistance and support to eligible homebuyers.
So, what exactly is the Homebuyer Dream Program? It’s a grant-based initiative from the Federal Home Loan Bank of New York, specifically tailored for low- to moderate-income individuals and families purchasing their first home. Qualified applicants may receive up to $20,000 in grant funds to help with down payments and closing costs — two of the biggest hurdles in the homebuying process.
One of the major perks of the HDP is that it’s not a loan — it’s free money that doesn’t have to be paid back, as long as certain program conditions are met (like living in the home for at least five years). And it gets even better: the funds can be used toward homeownership counseling, ensuring that participants are financially prepared and confident before taking on a mortgage.
The program is offered through participating lenders, such as Crest Savings Bank, who can guide applicants through the process. While income eligibility limits apply, the goal is to provide meaningful assistance to those who might otherwise be shut out of the housing market.
Beyond the financial boost, the HDP promotes long-term stability by helping families buy homes in the communities where they work and live. It’s more than just a program — it’s a stepping stone toward financial independence and community growth.
If you or someone you know is dreaming of homeownership, the FHLB Homebuyer Dream Program could be the key to turning that dream into reality. With expert guidance from Crest Savings lenders and up to $20,000 in support, homeownership might be closer than you think.
Looking for more details, give us a call at 609-522-5011 or visit our website at www.crestsavings.bank/borrow/home-loans/hdp/
Equal Housing Lender, NMLS#472651, Program has a Limited Time Availability
Maggie Colwell
VP, Residential Loan Department Manager
direct 609.522.5569 | main 609.522.5011| fax 609.522.4421 | NMLS #1958119 maggie.colwell@crestsavings.com | www.crestsavings.bank
