The First Home Club is a matching grant program offered to qualified first-time buyers. For each $1.00 saved by the homebuyer, the Federal Home Loan Bank of NY (FHLBNY) will match with $3.00, up to a maximum grant amount of $5,000. Therefore, with homebuyer savings of $1,667 the FHLBNY will match $5,000 for a total of $6,667 which can be used when purchasing a home for down payment, closing costs or escrow requirements. The funds may be saved over a minimum of 10 months and a maximum of 30 months.

See complete enrollment terms and conditions.

The First Home Club grant may be used in conjunction with other grant programs.