If buying a home for the first time is a goal for 2024, take note. Tompkins Community Bank recently announced its participation in the 2024 Homebuyer Dream Program (HDP). The program, offered through the Federal Home Loan Bank of New York (FHLBNY), provides up to $20,000 in assistance for eligible first-time homebuyers with the purchase of their first home.  

“As a community bank, helping people thrive in the areas that we serve is at the heart of everything we do,” said Stacy Merrill, Vice President, Residential Mortgage Lending Manager. “Purchasing a home is a big personal milestone and one with several benefits, including wealth accumulation and stability. It is our honor to be a part of that process. The Homebuyer Dream Program can help to improve access to homeownership opportunities and remove potential hurdles with down payment & closing cost assistance.”

To apply for the HDP, borrowers must be in good standing with the FHLBNY, be a first-time homebuyer, and have a household income at or below 80% of the Area Median Income for the county in which the home will be purchased. Additionally, awardees will need to complete a homeownership counseling program. Tompkins is proud to assist our customers as they move through the application process.

To learn more about this opportunity, visit your nearest Tompkins Community Bank and connect with one of our mortgage consultants (www.tompkinsbank.com). Applications are now open through August 30, 2024, or until funds are exhausted.