Homebuyer Dream Program® Suite

Helping You Achieve Homeownership

Contact Us Today to See If You Qualify for a Grant for Your Home Purchase

At Solvay Bank, we’re committed to making homeownership attainable for everyone. We understand that saving for a down payment and closing costs can be a major barrier to homeownership. That’s why we offer the Homebuyer Dream Program®, the Homebuyer Dream Program® Plus, and the NEW Homebuyer Dream Program® Wealth Builder—three grant programs designed to help you cover your home’s down payment, closing costs, and homeownership counseling expenses. Eligible homebuyers can receive up to $30,000 in financial assistance, with funds available on a first-come, first-served basis.

Easy Assistance for Your Home Purchase

Solvay Bank works with the Federal Home Loan Bank of New York (FHLBNY) to provide you with a generous grant that can be used for your down payment, closing costs, and even homeownership counseling. We’re here to guide you through the process and make it simple to get the support you need.

Smart Option for First-Time Homebuyers

These programs are a great opportunity for first-time homebuyers who are ready to realize their dream of homeownership. The Homebuyer Dream Program® Suite offers valuable financial assistance to help you take that important step toward owning a home.

Learn More About Our Homebuyer Dream Program® Suite

To discover more about the Homebuyer Dream Program®, Homebuyer Dream Program® Plus, or the Homebuyer Dream Program® Wealth Builder, contact one of our Mortgage Loan Officers today. You can reach us at 315-484-2205 or email us at [email protected]. Let us help you take the first step toward homeownership.

Apply Now

The Homebuyer Dream Program® is available if you: 

  • Are a first-time homebuyer or have not owned a home in the last three years (except for single parents and displaced homemakers who own only a primary residence with their spouse)
  • Meet income eligibility requirements, including a household income at or below 80% of the area median income (AMI) in the county where you are purchasing a home
  • Provide at least $1,000 down payment towards the purchase of the home
  • Complete a homeownership counseling program

The Homebuyer Dream Program® Plus is available if you: 

  • Are a first-time homebuyer or have not owned a home in the last three years (except for single parents and displaced homemakers who own only a primary residence with their spouse)
  • Meet income eligibility requirements, including a household income greater than 80% of the area median income (AMI), but not exceeding 120% AMI in the county where you are purchasing a home
  • Provide at least $1,000 down payment towards the purchase of the home
  • Complete a homeownership counseling program
  • Are a first-time homebuyer or have not owned a home in the last three years (except for single parents and displaced homemakers who own only a primary residence with their spouse)
  • Meet income eligibility requirements, including a household income equal to or less than 120% of the area median income (AMI) in the county where you are purchasing a home
  • Reside within a majority-minority census tract, or qualify as a first-generation homebuyer
  • Provide at least $1,000 down payment towards the purchase of the home
  • Complete a homeownership counseling program
  1. Make an appointment with a Mortgage Loan Officer. At your appointment, if qualified, you’ll sign the Enrollment Terms & Conditions which outlines the program requirements. You will also need to bring:
    • Most recent 30 days of pay verification (paystubs, Sch. C, SSI, etc.)
    • Last 2 years’ FEDERAL tax returns
    • Last 2 years’ W-2s for all employment
    • Most recent Bank Statements/Asset Accounts (two months for each account)
  2. Complete an approved homebuyer education course. The course can answer questions about the home buying process and prepare you for purchasing a home.
  3. Qualify for a Solvay Bank mortgage. Your Mortgage Loan Officer will guide you through this process to see if you qualify for this mortgage. If approved, at closing you will also sign a subordinate mortgage for the Homebuyer Dream Program® grant. Your grant term is forgiven after five years; however, if your home is sold prior to five years, under certain circumstances, you may have to repay all or a portion of the grant.

 

Apply Now