FHC Success Stories

Family Realizes Their Home Ownership Dream With the Help of the First Home Clubsm

Germantown, New York – Congressman John E. Sweeney (R NY-20), Alfred A. DelliBovi, president and CEO of the Home Loan Bank of New York, Clifford M. Miller, president and CEO of Ulster Savings Bank joined with Joshua and Claudia Brehse to celebrate the purchase of the Brehse’s new home in Germantown. To help overcome the downpayment/closing cost barrier, Joshua and Claudia Brehse received a $5,000 First Home Clubsm grant from the Home Loan Bank and Ulster Savings Bank. The Brehse’s are the 1,000th family to get a new home under the First Home Clubsm.

The First Home Clubsm was launched by the Federal Home Loan Bank of New York in 1995 to help provide an incentive for savings for the purchase of a new home. The First Home Clubsm is an affordable initiative only offered by participating member lenders of the Federal Home Loan Bank of New York. The First Home Clubsm is for income qualified, first-time home buyers.

FHCsm is a grant program that provides down payment and closing cost assistance to eligible first-time homebuyers purchasing a home through one of our participating member lenders. The FHLBNY grants four dollars in matching funds for each dollar saved in a dedicated account (up to $7,500 in matching funds). To offer the FHCsm at your institution, contact us at (212) 441-6850. A list of participating FHLBNY members is available for first-time homebuyers.

FHC Success Stories

Member: Ulster Savings Bank
Recipients: The Brehse Family
Member: The Summit Federal Credit Union
Recipients: Darlyn Colon