Your next step toward homeownership

The Homebuyer Dream Program (HDP) can provide up to $20,000 (maximum total grant per purchase $25,000) for eligible borrowers. Reservations are awarded on a first-come, first-serve basis. Please note there is no guarantee funds will be available when your Reservation Request is submitted. All HDP grants are subject to the approval of the FHLBNY.

Program Qualifications

• One borrower must be a first-time homebuyer, defined as someone who has not owned a home in the past three years. If you are unsure if you qualify, please call us.
• Homebuyer must live in a household under 80% of Area Median Income, including all household income. Different limits for 1&2 Person Households and 3+ Person Households.
• Homebuyer must purchase a home in New York State within Genesee Co-op's program area* 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 and have proof of $2,000 of available assets at the time of application.
• 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.

The Homebuyer Dream Program Plus Program (HDP Plus) can provide up to $20,000 (maximum total grant per purchase $25,000) for eligible borrowers. Maximum income levels are higher for HDP Plus Reservations are awarded on a first-come, first-serve basis. Please note there is no guarantee funds will be available when your Reservation Request is submitted. All HDP grants are subject to the approval of the FHLBNY.

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. Different limits for 1&2 Person Households and 3+ Person Households.
• Homebuyer must purchase a home in New York State within Genesee Co-op's program area* 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 and have proof of $2,000 of available assets at the time of application.
• 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.

The HDP Wealth Builder is a new Federal Home Loan Bank of New York Program for 2025 to help qualifying borrowers access further resources. To qualify you must be approved for one of either the HDP or HDP Plus programs and meet one of the following requirements:

• Be a First-Generation Homebuyer according to the FHLBNY definition
• Currently reside in a majority-minority census tract according to FHLBNY guidelines

Genesee Co-op is an approved lender for the City of Rochester Buy the Block program! Buy The Block builds new single-family, high-quality homes in under-invested areas of the city. The homes are then sold to qualified first-time homebuyers who will spend no more than 30 percent of their income on housing. You must first qualify through the City of Rochester's homebuyer program by applying directly to the City. Click here to connect to their website.

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Genesee Co-op is an approved lender for the HOME Rochester program. HOME Rochester houses are beautiful, renovated, single-family homes located within the City of Rochester. To qualify, you need to meet income requirements, be first-time homebuyers, as well as other requirements. You can find out more one the HOME Rochester website and get qualified through the City of Rochester Home Purchase Assistance Program.

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