First Home Clubsm(FHC)

The First Home Clubsm (FHC) was launched by the HLB in 1995 to offer an incentive for households with incomes at or below 80% of area median income to save towards the purchase of a new home. The program is a non-competitive set-aside of the HLB’s Affordable Housing Program and is administered through approved members of the HLB.The FHC provides down payment and closing cost assistance by granting $4 in matching funds for each $1 saved in a dedicated account (up to $7,500 in matching funds) to an eligible first-time homebuyer purchasing a home through one of our approved member community lenders.

Presentation for HLB Members
View FHC Presentation for HLB Member
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By offering the FHC in your institution, HLB Members can increase their deposits and mortgage originations and enhance their public relations and their CRA credit.

› Read more about FHC for HLB Members

Presentation for First-Time Homebuyers
View FHC Presentation for First-Time Homebuyers
View Printable Version

If you are a first-time homebuyer and would like to participate in the FHC, contact a participating HLB Member so that they can determine eligibility.

› Read about FHC for First-Time Homebuyers

 

FHC Enrollment Period Deadline: March 19

Members may enroll an unlimited # of qualified households for the First enrollment period in 2012. The Enrollment Period Report (xls) must be received via email to fhc@fhlbny.com no later than Monday, March 19, 2012, by 5pm EST.

FHC Success Stories

First Home Clubsm Recipient Spotlight
Member: The Summit Federal Credit Union
Recipients: Darlyn Colon

Family Realizes Their Home Ownership Dream
Member: Ulster Savings Bank
Recipients: The Brehse Family

› Other Success Stories