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New regulations regarding the First Home Club will be effective July 1, 2019. Until then, this program is on hold.
First Home Club
Struggling to save for a home of your own? Just can’t set aside enough from your current pay? Our First Home Club offers qualified members up to $7,500 in matching funds toward the purchase of your first home.*
- Learn money management strategies with the help of financial counselors
- Improve your confidence as a homeowner by participating in education programs
- Receive $4 for every $1 you save toward your home purchase, up to a maximum of $7,500 in matching funds
Who is Eligible:
Matching funds toward a first home purchase are available to members whose income, based on household size, meets program requirements. Maximum income cannot exceed 80% of the median family income (adjusted for family size) of the geographic area in which the member resides. Displaced homemakers and single parents who have previously owned a home may be eligible.
How it Works:
The First Home Club program provides an additional $4 for every dollar you save toward buying your first home. Members in the program must attend the required financial education sessions and a home ownership education program. Open your First Home Club account and make regular monthly deposits for 10-24 months. Matching funds are available through The Federal Home Loan Bank when you close on your mortgage.
* A limited number of participants are accepted annually.