The Homebuyer Dream ProgramTM
offers many benefits to first time homebuyers. Participants may receive a grant of $10,000* for down payment and/or closing costs. Funding is available on a first come first serve basis.
To prepare for the launch, Empower Mortgage Department staff will begin meeting with members by phone on April 1, 2021.
- Be considered a first time homebuyer.
- Have total household income that is less than the income limitations.
- Have $1,000 of your own funds to use towards the purchase of the home, and
- Complete an acceptable homebuyer counseling program.
Please contact the credit union after that date.
In addition to the Homebuyer Dream ProgramTM
, Empower has additional mortgage options.
Our First Time Homebuyer Program offers:
- Low down payment options
- Gifts, grants and other approved funding sources may be used for closing costs
*Members must meet qualification requirements and be a first-time homebuyer. $9,500 for down payment and/or closing costs and $500 towards the defrayment of homeownership counseling costs.
HDP funds are distributed on a first come first serve basis. There is no guarantee that funds will be available when your Reservation Request is submitted. The grant is a Federal Home Loan Bank of NY program.
Membership eligibility required. Loan approval based on creditworthiness. NMLS #412348