Grant Programs available through Albany County Rural Housing, inc. for first-time home buyers:
Available Purchase Area for HOME Down Payment Assistance Grant
First-time homebuyers who are approved for the home down payent assistance grant may look for homes in the areas listed on the map below.
If your municipality is not listed, please see our helpful links page for other agencies that may be able to assist you.
Housing Advisement Services are not restricted to our service area.
programs available through other funding sources:
Homebuyer Dream Program® (HDP®)
NEW FUNDING WILL BE AVAILABLE IN FEBRUARY 2026
Find out if you qualify to apply for this first-time homebuyer grant of up to $30,000! For more information on how to apply, please contact one of our home ownership advisors or contact one of the participating community lenders. Contact information is listed below or click here.
Prepare for the homebuyer dream program grant by completing your home-buyer education class now
Click on Icon To Register & be sure to use our coupon code: SAVEME10 for $10 off the cost of the class.
All applicants must meet the following requirements to apply:
Applicant must be a first time homebuyer, per hud’s definition complete a hud-certified homebuyer education course and receive certificate.
Have minimum personal savings of $1,000. Be ready to purchase and have a contract agreement for an eligible property type: 1-4 family home, condominium, cooperative, or manufactured home permanently affixed to a foundation (2-4 family units must include 75% of projected rental income). Household annual gross income must be less than 80% of the nys mortgage revenue bonds median
Current maximum income eligibility as of march 2024 is as follows:
As of September 2025, first-time homebuyers are eligible if their gross income does not exceed the limits below. Funding for the Homebuyer Dream Program is available through your lender from the Federal Home Loan Bank of New York. Applicable for homes purchased in the counties of Albany, Rensselaer, Saratoga, and Schenectady:
1–2-person household: $92,880.00
3 or more persons in household: $106,812.00
Some program offerings (if available from your lender) may assist households with higher incomes. Contact your housing advisor or a participating lender for up-to-date information.
Note: the homebuyer(s) must agree to maintain ownership of and reside in the property as the primary residence for a period of five years or repay a prorated amount of the HDP grant, or any other remedies authorized by the AHP regulation. If the homebuyer(s) owns the home for the full five-year term, the grant is forgiven at the end of the retention period.
Participating lenders in the capital district include, but not limited to:
- Broadview Federal Credit Union
- First National Bank of Scotia
- Arrow Bank (formerly Saratoga National Bank & Glens Falls National Bank)
- M&T Bank
- NBT Bank
- Sunmark FCU
- Bank of Greene County
For more information and a complete list of participating lenders, visit:
https://www.fhlbny.com/community/housing-programs/hdp/participating-members
Interested In Applying for the Homebuyer Dream Program?
For more information on the program and how to apply, please contact our Home Ownership Advisor