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Digital Banking

homebuyer dream program inside hero

homebuyer dream program

making your dreams come true. 
because the point is you. 

Five Star Bank is taking part in a grant program through the Federal Home Loan Bank of New York (FHLBNY) for first time homebuyers in the state. The funding for this program is provided by the FHLBNY, is limited, and will be distributed on a first come, first served basis.

Program Details

  • Receive up to $7,000 to fund your down payment and/or closing costs
  • Get up to $500 towards a homeownership counseling program

How do you qualify?

  • Must be a first time homebuyer as defined by the U.S. Dept. of Housing and Urban Development
  • Household must have a total household income of 80% or below of the Area Median Income for the county in which the household is purchasing
  • Have an executed purchase and sales contract prior to the funding reservation request
  • Have a minimum of $1,000 equity contribution toward the purchase of the home
  • Homebuyer must complete a homeownership counseling program prior to the funding reservation request
  • Homebuyer must commit to 5-year retention period

For additional information, contact us at 1-866-661-7946, visit your local branch or fill out the form below!
home for you tile. combining home for you offer with other eligible offers.

Fill out and submit the contact form below.
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FHLBNY determines the qualifications for this program. Mortgage loan is subject to additional underwriting guidelines and credit approval.

Thank you for your submission!

We will be in touch with you soon.