First-Time Homebuyers
Genesee Co-op specializes in helping people become First-Time Homebuyers! We offer our personalized underwriting for every loan, participate in Federal Home Loan Bank of New York grant programs, and work with partner organizations.
In addition to offering the Homebuyer Dream Program and HDP+ program, we also support borrowers to work with the City of Rochester Home Purchase Assistance Program, and are an approved lender for HOME Rochester & Buy the Block properties!
Homebuyer Dream Program® 2025 round! Opens February 10th
Members must meet qualification requirements and be a first-time homebuyer Receive up to $20,000, with $19,500 toward your down payment and closing costs and $500 toward homebuyer education. Reservations are given to eligible individuals on a first come, first serve basis.
Please note, there is no guarantee that funds will be available when your Reservation Request is submitted. The grant is provided from the Federal Home Loan Bank of NY program and subject to their approval.
Program Qualifications
- One borrower must be a first-time homebuyer, define as someone who has not owned a home in the past three years.
- Homebuyer must live in a household at or below 80% of Area Median Income, including all household income. Maximum income is 80% of AMI with different limits for 1&2 Person Households and 3+ Person Households.
- Homebuyer must purchase a home in New York State within Genesee Co-op's program area* and remain in that home as their primary residence for 5 years from the closing date or repay a prorated share of the HDP Grant.
- Homebuyer must receive a mortgage from Genesee Co-op FCU.
- Homebuyer must contribute at least $1,000 and have proof of $2,000 of available assets at the time of application.
- Homebuyer must complete Homeownership Counseling Certificate from a HUD-Certified Housing Counseling Agency. Approved agencies include The Housing Council at Pathstone and CCCS of Rochester (Note the coupon available for online training through CCCS of Rochester).
Contact for more information, or call us at 585-461-2230.
Homebuyer Dream Program® Plus 2025 Round Opens February 10th
Members must meet qualification requirements and be a first-time homebuyer Receive up to $20,000, with $19,500 toward your down payment and closing costs and $500 toward homebuyer education. Reservations are given to eligible individuals on a first come, first serve basis.
Please note, there is no guarantee that funds will be available when your Reservation Request is submitted. The grant is provided from the Federal Home Loan Bank of NY program and subject to their approval.
Program Qualifications
- One borrower must be a first-time homebuyer, define as someone who has not owned a home in the past three years.
- Homebuyer must live in a household between 80% and 120% of Area Median Income, including all household income. Different limits for 1&2 Person Households and 3+ Person Households.
- Homebuyer must purchase a home in New York State within Genesee Co-op's program area* and remain in that home as their primary residence for 5 years from the closing date or repay a prorated share of the HDP Grant.
- Homebuyer must receive a mortgage from Genesee Co-op FCU.
- Homebuyer must contribute at least $1,000 and have proof of $2,000 of available assets at the time of application.
- Homebuyer must complete Homeownership Counseling Certificate from a HUD-Certified Housing Counseling Agency. Approved agencies include The Housing Council at Pathstone and CCCS of Rochester.
Contact for more information, or call us at 585-461-2230.
Homebuyer Dream Program® Wealth Builder
Program Qualifications
- Must meet the requirements of one of the HDP or HDP Plus Program AND
- Currently reside in a majority-minority census tract
- Qualify as a First-Generation Homebuyer
*Genesee Co-op's Program Area is the following areas: Monroe, Livingston, Ontario, Orleans, and Wayne Counties.
The Homebuyer Dream Program® (HDP®) is a registered trademark of the Federal Home Loan Bank of New York (FHLBNY). Additional program details regarding the HDP are available on the FHLBNY’s website at https://www.fhlbny.com/community/housing-programs/hdp/. Members must meet qualification requirements and be a first-time homebuyer. FHLBNY develops all rules qualifies all homeowners for the grant programs. For grant purposes household income is calculate based on FHLBNY rules. Genesee Co-op is not responsible for any incorrect descriptions of grant rules, or decisions of the FHLBNY to deny a grant or interpret the rules.
Our Members make the difference.
Member Since 1985
"I joined the credit union because my bank was starting to charge fees for different transactions and setting a minimum amount on how much you had to have in your account. I decided it was time to put my money where my mouth was and support local businesses. So, I opened a checking and saving account with the credit union. In 2004, I got a mortgage with them - which they helped me stay on top of when I was laid off for a short period. I have direct deposit there for work and I did open up a line of credit there many years ago; I don't use it often but it's nice to know it’s there in case I do need it. People at the credit union dress differently, they don't wear suits and they're down to earth. When I go there, it's friendly and welcoming. I like the brickwork and the fact that they have local artwork on the walls. Most of my friends already bank there."