Grant Opportunity for First Time Homebuyers

Buying a home is obviously a huge financial commitment, but for those who think they could never afford homeownership, take a look at the First Home Club:
Program Description
The Capital District Individual Development Account Program was organized by local housing counseling agencies to assist working households to build wealth through homeownership.
  • Receive $4 for every $1 saved, up to $7,500 toward the purchase of your first home.  Need to save $1,875 to receive the maximum match of $7,500.
  • Save for a minimum of 10 months up to a maximum of 24 months
  • Use your savings and the matching funds for the down payment and closing costs associated with your home purchase.  Save the maximum, you will have $9,375 ($1,875 of your savings plus $7,500 matching funds) toward your purchase.
  • You can purchase a home anywhere your bank lends.
  • The home is to be owner occupied for at least five years, or some of the funds may need to be repaid.
  • You must open a dedicated savings account at a participating institution.

Participating Banks/Credit Unions

  • First Niagara Bank
  • M&T Bank
  • Pioneer Savings
  • Capital Communications FCU
  • NBT Bank
  • Glens Falls National Bank* (Only in Northern Rensselaer & Albany Counties)

Who’s Eligible?

  • First time homebuyers
  • Earn less than the following amounts:
    • $61,600 if you are a 1 or 2 person household
    • $70,800 if you are a household of three or more people

Sound good?  The first step to enrolling in this program is to come to one of our Homebuyer Orientations.  Our next session will be held Monday, April 16th; register online at or call (518) 690-0020 ext. 221.