Homebuyer Dream Program
Magyar Bank's Homeybuyer Dream Program (HDP) provides assistance to low and moderate income families looking to purchase a home in Middlesex or Somerset county. Through our partnership with the Federal Home Loan Bank of New York (FHLBNY), the HDP offers grants up to $10,000 towards down payment and closing cost assistance to eligible first-time homebuyers purchasing a home. The program is on an annual first come first served basis and homebuyers must meet the following criteria:
- Qualify as a first time homebuyer
- Purchase a home in New Jersey
- Meet the household income requirements
- Complete a HUD Certified homebuyers counseling program
- Own and occupy the home for 5 years
- Other eligibility requirements may apply
To learn more or see if you qualify for this program, please call Diana Braga at 732-342-7600, ext. 161.