First-Time Homebuyers
Genesee Co-op specializes in helping people become First-Time Homebuyers! We offer our personalized underwriting for every loan, participate in Federal Home Loan Bank of New York grant programs, and work with partner organizations.
In addition to offering the Homebuyer Dream Program and HDP+ program, we also support borrowers to work with the City of Rochester Home Purchase Assistance Program, and are an approved lender for HOME Rochester properties!
Homebuyer Dream Program® is now accepting reservations for the 2024 round!
Members must meet qualification requirements and be a first-time homebuyer Receive up to $20,000, with $19,500 toward your down payment and closing costs and $500 toward homebuyer education. Reservations are given to eligible individuals on a first come, first serve basis.
Please note, there is no guarantee that funds will be available when your Reservation Request is submitted. The grant is provided from the Federal Home Loan Bank of NY program and subject to their approval.
Program Qualifications
- One borrower must be a first-time homebuyer, define as someone who has not owned a home in the past three years.
- Homebuyer must live in a household at or below 80% of Area Median Income, including all household income. Maximum income is $82,960 for 1&2 Person Households and $95,404 for 3+ Person Households (for Monroe County)
- Homebuyer must purchase a home in New York State within counties Genesee Co-op lends in and remain in that home as their primary residence for 5 years from the closing date or repay a prorated share of the HDP Grant.
- Homebuyer must receive a mortgage from Genesee Co-op FCU.
- Homebuyer must contribute at least $1,000.
- Homebuyer must complete Homeownership Counseling Certificate from a HUD-Certified Housing Counseling Agency. Approved agencies include The Housing Council at Pathstone and CCCS of Rochester (Note the coupon available for online training through CCCS of Rochester).
- Program is available through August 30th, while spots last.
Contact for more information, or call us at 585-461-2230.
Homebuyer Dream Program® Plus is Available for 2024 round!
Members must meet qualification requirements and be a first-time homebuyer Receive up to $20,000, with $19,500 toward your down payment and closing costs and $500 toward homebuyer education. Reservations are given to eligible individuals on a first come, first serve basis.
Please note, there is no guarantee that funds will be available when your Reservation Request is submitted. The grant is provided from the Federal Home Loan Bank of NY program and subject to their approval.
Program Qualifications
- One borrower must be a first-time homebuyer, define as someone who has not owned a home in the past three years.
- Homebuyer must live in a household between 80% and 120% of Area Median Income, including all household income. Tentative maximum income is $124,440 for 1&2 Person Households and $143,106 for 3+ Person Households.
- Homebuyer must purchase a home in New York State within counties Genesee Co-op lends in and remain in that home as their primary residence for 5 years from the closing date or repay a prorated share of the HDP Grant.
- Homebuyer must receive a mortgage from Genesee Co-op FCU.
- Homebuyer must contribute at least $1,000.
- Homebuyer must complete Homeownership Counseling Certificate from a HUD-Certified Housing Counseling Agency. Approved agencies include The Housing Council at Pathstone and CCCS of Rochester.
- Program is available March 18th - August 30th, while slots last.
Contact for more information, or call us at 585-461-2230.
The Homebuyer Dream Program® (HDP®) is a registered trademark of the Federal Home Loan Bank of New York (FHLBNY). Additional program details regarding the HDP are available on the FHLBNY’s website at https://www.fhlbny.com/community/housing-programs/hdp/. Members must meet qualification requirements and be a first-time homebuyer. FHLBNY develops all rules qualifies all homeowners for the grant programs. For grant purposes household income is calculate based on FHLBNY rules. Genesee Co-op is not responsible for any incorrect descriptions of grant rules, or decisions of the FHLBNY to deny a grant or interpret the rules.
Our Members make the difference.
Member Since 2006
"My parents have been members of the credit union for more than 30 years and I became a member by default - a kind of family tradition. My parents opened an account for me and I learned how to fill out the slips to take out and put in money. Two of my siblings also have accounts there. I'm working now and feel a sense of pride when I think about being part of the credit union. They're not just people there, they're friends. They all know my name and it's a really friendly place."