First Home Club

Becoming a homeowner is the #1 goal of many of our clients. CCCS of Rochester can help you prepare for the reality and responsibilities of home ownership and assist you in obtaining $7500.00 toward your closing costs. CCCS of Rochester participates with the First Home Club program. The First Home Club was launched by the Federal Home Loan Savings Bank 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 FHC provides down payment and closing cost assistance by granting $4 in matching funds for each $1 saved in a dedicated account. You can receive up to $7,500 in matching funds toward your closing costs. The Homebuyer must participate in the program for a minimum of 10 months of systematic savings, up to a maximum of 24 months.

In order to participate and enroll in the FHC, the potential homebuyer must meet the following preliminary qualifications:

  • Meet the definition of first-time homebuyer
  • Reside and purchase their home within HLB's district area (New Jersey, New York, Puerto Rico, or the U.S. Virgin Islands)
  • Gross household income is 80% or less of the area median income. The income limits are currently $56,320 for 1 and 2 person household limit and 64,768 for 3 or more people
  • Open a dedicated savings account with an approved bank  and agree to save systematically on a monthly basis for a period of 10-24 months
  • Complete an approved homebuyer counseling program
  • Execute the FHC Enrollment Terms & Conditions Agreement (application)
  • Obtain mortgage financing from the member

When you complete one of our workshops for first time home buying, you will receive a Certificate of Completion that will help you qualify for the First Home Club. Please contact our agency to set up an appointment to get you more information to get you started.

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