💰 Unlock Up to $20,000 for First-Time Homebuyers in New York State

Buying your first home on Long Island can feel overwhelming — but what if you could get up to $20,000 in free grant money to help cover your down payment and closing costs?

Good news: you can. The Homebuyer Dream Program (HDP) is a New York State grant that helps qualified first-time buyers turn the dream of homeownership into reality — and it’s non-repayable if you stay in your home for at least five years.

🏡 What Is the Homebuyer Dream Program?

The Homebuyer Dream Program, offered through the Federal Home Loan Bank of New York, provides up to $20,000 in financial assistance to eligible first-time homebuyers. The funds can be used toward your down payment, closing costs, or both — which can make a major difference in today’s market.

Participating local banks and credit unions distribute the funds on a first-come, first-served basis, and allocations usually run out quickly — so timing matters!

✅ Who Qualifies for the $20,000 Grant?

You may qualify if you:

• Have not owned a home in the past 3 years

• Plan to buy a primary residence in New York State within qualifying locations

• Meet credit thresholds & income limits (typically ≤ 80% of the area median income)

• Complete an approved homebuyer education course

• Contribute at least $1,000 of your own funds toward the purchase

The program also requires that you live in your home for five years to avoid repayment — making it perfect for buyers ready to put down roots in communities like Northport, Greenlawn, or Huntington.

💡 Why This Program Matters on Long Island

In our local market, where median home prices are high and competition is fierce, even an extra $10,000–$20,000 can open doors — literally.

For example:

• It can bridge the gap between your savings and the required down payment.

• It may reduce your monthly mortgage payment if you put more down.

• It could help you compete against cash buyers by lowering your loan-to-value ratio.

As a local real estate advisor based in Northport, I’ve seen firsthand how this program helps buyers get into homes they love — especially those who thought ownership was out of reach.

🕒 How to Apply

Because funds are limited, I always recommend that buyers:

1. Get pre-approved early with a participating lender 

2. Ask your loan officer if their bank participates in the Homebuyer Dream Program - I am happy to recommend banks that do!

3. Complete your homebuyer education and gather documents (pay stubs, W-2s, etc.) right away.

4. Work with Melissa Infanzon, your local real estate expert who knows the process and can align your offer timing with funding availability.

🤝 Work with a Local Expert Who Knows the Process

As a Licensed Real Estate Advisor with Compass Realty, I specialize in helping Long Island buyers navigate competitive markets with confidence.

Whether you’re dreaming of a starter home in Greenlawn, a village-style home in Northport, or something near the Harborfields school district, I can connect you with participating lenders, help you qualify for the Homebuyer Dream Program, and guide you every step of the way — from pre-approval to closing day.

🏠 Ready to See If You Qualify?

Let’s talk about how this $20,000 grant could make your first home a reality.

📞 Call or text: 774-521-9634
📧 Email: [email protected]