First-Time Homebuyer


Down Payment Assistance Programs for First-Time Buyers on Long Island

Nassau Financial Federal Credit Union now offers access to the Homebuyer Dream Program® (HDP) Suite, providing grant assistance that may help reduce your upfront homebuying costs.

HDP (Homebuyer Dream Program)

Up to $30,000 in grant assistance for eligible first-time buyers with qualifying income levels.

Best for:

  • First-time buyers with income at or below 80% of Area Median Income.

Potential benefit:

  • Grant assistance toward upfront homebuying costs.

HDP Plus

Up to $30,000 in assistance for moderate-income buyers who may not qualify for traditional programs.
Best for:

  • Buyers earning above traditional assistance limits but still within program guidelines.

Potential benefit:

  • Expanded eligibility with grant assistance available.

HDP Wealth Builder 

Up to $30,000 designed to help first-generation buyers or buyers in eligible communities build long-term wealth.

Best for:

  • First-generation homebuyers or buyers in eligible communities.

Potential benefit:

  • Designed to help build long-term financial stability through homeownership.










Talk to our mortgage team today to see if you qualify

How to Apply for Homebuyer Grant Assistance 
  • Meet with a Nassau Financial mortgage specialist
  • Review eligibility and program options
  • Complete homebuyer education
  • Reserve grant funding during the application process

Why work with Nassau Financial?

  • Local credit union serving Long Island communities
  • Personalized mortgage guidance
  • Access to programs many buyers do not know exist
  • Focused on helping members succeed, not just close loans

Ready to take the first step toward homeownership?
Your journey starts with a conversation.

Start your free consultation

Frequently Asked Questions:

General requirements include:

  • First-time homebuyer status (HUD definition)

  • Income within program limits

  • Owner-occupied primary residence

  • Homebuyer counseling completion

  • Minimum $1,000 equity contribution

Eligible buyers may qualify for grant assistance up to $30,000 depending on the program selected and funding availability.
In many cases, grant funds do not need to be repaid as long as the home is not sold or re-deed in the first 5 years.
Generally, a first-time homebuyer is someone who has not owned a primary residence within the past three years, based on HUD guidelines.
Yes. Homebuyer Dream Program assistance may be used with eligible mortgage financing options, subject to underwriting and program guidelines.
Not necessarily. Eligibility depends on multiple factors including income, underwriting guidelines, and overall financial profile.
Yes. Income limits are based on Area Median Income (AMI) of the county you currently live in, and may vary depending on which HDP program you qualify for.



Program availability, eligibility requirements, and funding are subject to Federal Home Loan Bank of New York guidelines and may change without notice.