First Home Club

The First Home Club was launched by the Federal Home Loan Bank of New York (FHLB) 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 FHLB’s Affordable Housing Program and is administered through approved members of the FHLB. The First Home Club 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.

First Home Club Program Guidelines

Contact Information
HomeOwnership Center
631-471-1215 x158
homebuyer@cdcli.org