First Home Club
Save enough for your new home even faster with matched funds
through the First Home Club.
Thinking about buying a home in the next two years? Sunmark’s First Home club can help get you ready.
For every $1 you save, you’ll be matched $4 – up to a maximum of $7,500*. That money can be used towards a down payment or closing costs when you’re ready to buy – and there are only a few simple requirements.
How does the First Home Club work?
- Meet a few eligibility requirements (a Sunmark mortgage representative can qualify you after reviewing your income).
- Make regular monthly contributions for 10-24 months.
- Attend a one-day seminar that will provide information to help when you’re ready to buy a home.
- When you’re ready, have Sunmark finance your home.
At the end of the savings period, you’ll receive a match from the Federal Home Loan Bank of NY (FHLBNY) – $4 for every $1 you’ve saved. And if something happens along the way and you decide to stop the program: You’ll keep whatever money you’ve saved on your own.
* Participants must meet program requirements, including regularly scheduled recurring deposits for at least ten consecutive months; meet the definition of “first-time homebuyer” and income requirements; complete approved homeownership counseling program; and obtain your mortgage through Sunmark FCU.