Homebuyer Dream Program®

  • The Homebuyer Dream Program is a grant program offered by the Federal Home Loan Bank of New York (FHLBNY) through approved community lenders like RSI Bank.

Homebuyer Dream Program

The program provides grants to qualified first-time homebuyers to be used towards down payment and closing costs, as well as the defrayment of home ownership counseling costs.

How Does the Program Work?

1) Speak with an RSI Bank Lending Representative to determine if you meet the program eligibility requirements.

2) Home ownership counseling is required for this program. Ask an RSI Bank Lending Representative for a list of local accredited counseling agencies.

3) You'll need an executed purchase and sales contract prior to submitting a reservation request to the Federal Home Loan Bank of New York.

4) After a reservation request is submitted, the FHLBNY will review the request and send a notification of funding commitment if it is approved. You have 120 days after receiving the funding commitment to close on your new home.

Funding availability is limited!

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RSI Bank Institution NMLS# 409467. All offers are available in New Jersey only. All loans are subject to credit approval. Speak with a Residential Loan Office for details and to determine eligibility.