Owning your own home is one life's major milestones for
most people. Unfortunately the upfront costs of purchasing your
first home can deter many people from ever reaching that
milestone. It can be hard to save enough money for a down
payment, closing costs, inspection, attorney's fees, and the list
goes on and on. Luckily for you Consumer Credit Counseling Service
of Rochester in cooperation with First Niagara Bank and HSBC offers
a program that can help relieve some of that stress and anxiety.
CCCS of Rochester's First Home Club is a program designed to help
people looking to purchase their first home and people who haven't
owned their own home in the past 3 years. Participants in the First
Home Club are eligible for a $7,500 grant to be used towards a down
payment and closing costs on their new home after completing a
savings and education program. How the First Home Club works is
very simple, participants agree to save their own money monthly on
a plan ranging from 10 months to 24 months, during those months
they attend 2 free workshops hosted by CCCS of Rochester, and at
the end of the agreed time frame they get a $7,500 grant to use
towards the down payment or closing costs on their new home.
The savings plan consists of committing to save at least $79.00
a month for 24 months, or if you can save more money a month the
number of months you need to save is even less! At the end of the
savings term you will have saved $1,875, which is a great start
towards saving for your new home, but as a reward for your hard
work and perseverance, the Federal Home Loan Bank of New York is
going to add $7,500 to your own hard earned savings. This is money
you will never have to pay back, as long as you stay in your new
home for at least 3 years.
During this savings period you will also get to attend the free
workshops provided by CCCS of Rochester, where you will learn about
creating a spending plan, deciding how much home you can afford,
and all there is to know about getting ready to purchase your new
home including closing costs, realtors, mortgages, attorneys,
inspections, etc. There will also be presentations by realtors and
attorneys that have helped hundreds of others purchase the home of
their dreams.
If owning your own home is one of your dreams, even if it is a
couple years down the road give CCCS of Rochester a call and talk
to one of our certified counselors for more information and to see
if the First Home Club is right for you!
If owning your own home is your DREAM, let CCCS of
Rochester help make it a Reality!
