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HomeStart First Time Home Buyer Loan

If you're a first-time homebuyer, we have you covered with HomeStart!
Manasquan Bank offers some of the best home loans in New Jersey, including Fixed Rates, Adjustable Rates, or Biweekly Loans. 

Benefits of a HomeStart First-Time Home Buyer Loan include:

  • With 15% down: No PMI and no increase to interest rate
  • 0.125% off of the rate with auto-pay from a Manasquan Bank Personal Checking Account*
  • Application fee refundable at loan closing
  • No hidden fees

*Does not apply to transfers from money market accounts


Introducing The Homebuyer Dream Program®

The Homebuyer Dream Program® (“HDP®”) is a federally regulated first-time Homeownership Set-Aside Program, offered under the FHLBNY’s Affordable Housing Program (“AHP”) and managed within regulatory requirements established by the Federal Housing Finance Agency (“FHFA”) 12 C.F.R. Part 1291, as may be amended from time to time (“AHP Regulation”). The Homebuyer Dream Program provides funds in the form of a grant to be used towards down payment and closing cost assistance to first-time homebuyers earning at or below 80% of the Area Median Income (“AMI”). The maximum grant that a household may receive is up to $19,500, as determined by the member, and submitted to the FHLBNY. Additionally, the Homebuyer Dream Program also offers up to $500 towards the defrayment of homeownership counseling costs, which will be provided for the use of the household via the member to the non-profit counseling agency. The amount of the defrayment will be added to the grant resulting in the potential maximum assistance of $20,000. The Homebuyer Dream Program Guidelines (“Program Guidelines”) will assist you as you work along with the homebuyer, and counseling agency to ensure HDP grants are executed and funded in a timely manner and in compliance with the AHP Regulation, the FHLBNY AHP Implementation Plan (“Implementation Plan”) and these Program Guidelines. These Program Guidelines are intended to be illustrative, not exhaustive, as not all possible scenarios can be addressed herein.


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The mission of the Federal Home Loan Bank of New York (“FHLBNY”) is to provide members with reliable liquidity in support of housing and local community development. The FHLBNY meets our mission by providing our members with access to economical wholesale credit and assistance through our credit products, mortgage finance program, housing and community lending programs, and correspondent services.

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