First Time Homebuyer

Our Mortgage Specialists are available at a mutually agreeable time at the office location most convenient for you.

Homebuyer Dream Program

The Homebuyer Dream Program* (HDP) grant helps reduce the cost to buy a home. First-time homebuyers may be eligible for grants up to $20,000. Funds are limited (with no guarantee of approval). You may be eligible for $19,500 towards the down payment and/or closing costs of a one to four-family home or condo and $500 towards non-profit homeownership counseling.

The Program will be administered as one annual round for the submission of HDP Reservation Requests. The round is now available but funds are limited.

You must meet the following requirements to apply for a Homebuyer Dream Program (HDP) grant.

  • Homebuyer Status: First-time homebuyer or no ownership of a home for the past 3 years**
  • Household Income: 80% or below area median income (AMI) in the county of house purchase
  • Homebuyer Contribution: $1,000 minimum toward house purchase
  • Employment: Full-time employee (32+ hours/week)
  • Class: Must attend homeownership counseling class (cost covered by grant)
  • Remain in the home for five years or may need to repay a portion of the grant funds back to the Federal Home Loan Bank of New York (FHLBNY).
  • Other restrictions may apply, click "Find Out More" for additional guidelines.

Household Income Limits

Dutchess County

1-2 Person Household
3+ Person Household
NeighborWorks HomeOwnership
291 Mill Street • Poughkeepsie, NY 12601

Orange County

1-2 Person Household
3+ Person Household
Orange County RDAC
3 North Street • Walden, NY 12586
PO Box 1086 • Newburgh, NY 12551

Ulster County

1 & 2 Person Household
3+ Person Household
Rural Ulster Preservation Co. (RUPCO)
NeighborWorks HomeOwnership Center
289 Fair Street • Kingston, NY 12401

For Information on other counties
Call Ulster Savings Bank at 866-440-0391, Ext. 3253

FAIR LENDING STATEMENT: Ulster Savings Bank is committed to making high quality banking and credit services available to all applicants consistently and in compliance with fair lending laws and within the confines of safe and sound banking practices.  Ulster Savings Bank believes that its commitment to fair lending is a good business practice as well as a basic responsibility of the company.  The Bank’s success at serving a wide range of consumer and business customers is essential to the economic welfare of the community in which it conducts business and to the continued growth and vitality of the company. 
24/7 Debit Card Support: 866-440-0392
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