2024 Homebuyer Dream Program® Plus is now available!

Lusitania Savings Bank is teaming up with the Federal Home Loan Bank of NY (FHLBNY) to provide eligible first-time homebuyers with grants of $20,000 per household.
  • $19,500 can be used towards loan down payment and loan closing costs
  • $500 can be used towards homeownership counseling costs
  • Available to eligible first-time homebuyers on a first-come, first-served basis 

Reservations of funds are subject to approval by FHLBY and assigned to eligible applicants on a first-come, first-serve basis.

How does the Program Work?
  • Discuss the eligibility requirements with a Lusitania Mortgage Loan Processor to confirm you’ll be able to join the program.
  • Complete the homeownership counseling class to receive your certificate.
  • Once you have an accepted purchase contract for your new home, FHLBNY reviews your reservation request and all your documentation.
  • Once approved, a funding commitment will be provided and will have 120 days to close on your new home.
  • Lusitania will provide step-by-step assistance to help you with the process and obtain this generous grant from  the Federal Home Loan Bank of New York (FHLBNY).
Program Eligibility Requirements:

The Homebuyer Dream Program® Plus is available if you:

• Are a first-time homebuyer or someone who has not owned a home in the last 3 years (except for single parents and displaced homemakers who only owned 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 property.

• Provide at least $1,000.00 down payment towards the purchase of the home.

• Complete a homeownership counseling program.

• Qualify for and obtain a mortgage at Lusitania Savings Bank.


The Homebuyer Dream Program® Plus is a registered trademark of the Federal Home Loan Bank of New York (FHLBNY). Additional program details are available on the FHLBNY website at fhlbny.com/community/housing-programs/hdp