First Home Club Grant Program

If you deposit $1; we will deposit $4. How does that sound?

Don’t wait any longer to buy your first home. Family First FCU believes in promoting homeownership in our communities. Which is why we participate in the Federal Home Loan Bank of New York’s First Home Club (“FHC”) program, which is designed to assist moderate and low income first-time home buyers in the purchase of a home. Assistance is provided in the form of matching funds based on systematic savings within a dedicated savings account opened by the home buyer. Family First’s matching funds may be used toward the down payment and closing costs for the purchase of a home. Family First offers several programs that can work in tandem with the FHC program to assist you in obtaining the needed funds to purchase your home! Let our friendly, professional, staff provide you with the resources to help educate you, and make smart home buying decisions.

How It Works
For every $1 you deposit and save in your dedicated savings account here at Family First, we deposit $4 in matching funds per household (not to exceed $7,500)*. See the chart below for an example.

10 Month Plan 18 Month Plan 20 Month Plan
Monthly Member Contribution:



Total Member Contribution:



Matching Family First Amount:



 Total: $9,375 $9,375 $9,375


The First Home Club has several requirements that you must meet to qualify for the program:

  1. Be a First Time Home Buyer. Click here for the detail.
  2. Be a Resident of New York State
  3. Agree to complete a home buyer counseling program with a HUD approved Counseling Agency in your area to give you all the information you need and keep you on track.
  4. Open a dedicated savings account with Family First and start a program of systematic savings for a minimum of 10 months and achieve home ownership within 24 months
  5. Your gross household income must be less than 80% of the Median income for the county in which you live.  For example Monroe, Wayne, Ontario Livingston, Genesee and Orleans counties, your gross household income must be less than $62,240 for a one or two person household and less than $71.576 for a 3+ person household.  For all counties in NY, click here and follow the tables for your household size, county and 80%.
  6. Obtain mortgage financing from Family First, and
  7. Household cannot be a full time matriculated student within 6 months of enrollment, as evidenced by the occupation on their tax returns, and/or other applicable documentation
  8. Agree to execute a legal recordable retention mechanism to ensure residency for a minimum of (5) years.

Make your dream of owning a home a reality, contact the Mortgage Team today to help start the process or download our First Home Club Application and simply drop it off to any branch location to start now.

*Family First will not match funds deposited in other savings accounts at Family First or other institutions.  Funds that you may deposit into the dedicated savings that are not the result of systematic savings will not be included in determining the matching funds total.

Family First of NY FCU NMLS#: 453880