Housing Programs

The FHLBNY is committed to providing affordable housing opportunities to families and communities through our members.

Affordable Housing Program (AHP)
AHP provides subsidized advances and grants to our members to help households earning 80% or less of the area median income purchase or maintain their homes. It also enables organizations to purchase, rehabilitate, or construct apartment buildings in which at least 20% of the units are affordable to households earning 50% or less of the area median income.

Homebuyer Dream ProgramTM (HDP)
The HDP provides funds in the form of a grant to be used towards down payment and closing cost assistance to first-time homebuyers earning at or below 80% of the Area Median Income (AMI) and purchasing homes in New York, New Jersey, Puerto Rico or the U.S. Virgin Islands.  

First Home Clubsm  (FHC)
The FHLBNY is no longer accepting new household enrollments for the FHC program as the FHLBNY transitions to a more modernized first-time homebuyer set-aside program, the Homebuyer Dream ProgramTM (HDP). Households currently enrolled in the FHC program will not be impacted and can continue following their systematic savings plan. For more information regarding the FHC program please refer to the FHC Program Guidelines.

Note: The FHLBNY does not offer funding directly to homeowners or organizations. For more information on AHP, visit the general program FAQ section. First-Time Homebuyers interested in HDP, should check if they are eligible or contact an approved member so they can determine eligibility and enroll you in the program.