SONYMA Homebuyer Dream Program Rochester NY: How to Get Up to $30,000

What Is the Homebuyer Dream Program?

The Homebuyer Dream Program (HDP) is a grant - not a loan - offered through the Federal Home Loan Bank of New York (FHLBNY). In 2026, qualifying buyers in Rochester can receive up to $30,000 toward down payment and closing costs.

The key word is "grant." You don't repay it as long as you live in the home for at least 5 years.

Who Qualifies?

First-time homebuyer (or not owned in 3+ years)
Household income at or below 80% of Area Median Income (AMI)
Purchasing a primary residence in Monroe County
Working with a participating FHLBNY member lender

For a 2-person household in Monroe County, 80% AMI is approximately $71,000/year.

Rochester Lenders That Offer HDP

Not every bank offers the Homebuyer Dream Program. You must work with a Federal Home Loan Bank member that participates in the program:

Family First Credit Union - strong local presence
GRB Bank - community bank, responsive
Five Star Bank - available across Western NY
M&T Bank - large bank, efficient process
ESL Federal Credit Union - Rochester's largest credit union

The Application Timeline

Contact a lender and get pre-qualified for a SONYMA mortgage
Complete HUD-approved homebuyer counseling (required)
Lender submits HDP reservation on your behalf when you're under contract
Funds are reserved - typically 30 days before closing
Grant applied at closing

How to Stack HDP With Other Programs

You can combine HDP with:

SONYMA DPAL - adds up to $15,000 at 0% interest
SONYMA Achieving the Dream - below-market interest rate
City HPAP - if buying within city limits

Use our SONYMA Calculator to see your total potential grants.