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Making Home Ownership More Affordable

GRB participates in a number of special promotions and lending programs designed to make the dream of owning a home more accessible.

GRB and the Federal Home Loan Bank of New York (FHLBNY) work together to provide down payment assistance to qualified first-time homebuyers. The First Home Club provides $4 in matching funds at closing for every $1 saved in a dedicated First Home Club Savings Account at GRB, up to a total grant amount of $7,500. Before purchasing a home, participants make monthly deposits into this account over a 10- to 18-month period.

2017 End-of-Year Enrollment Special

GRB is ready to wrap up its First Home Club enrollments for 2017 and has a few spots left for qualified candidates.  To fnish the year strong, GRB is offering a $50 restaurant gift card upon enrollment approval by our in-house First Home Club specialists and $250 off your mortgage closing costs when you purchase your home next year and obtain a mortgage with GRB.  The discount on closing costs will be in the form of a waiver of $250 off the Bank's processing fee.

This is a great opportunity to begin saving now and be ready to buy a home next summer!  Want to know whether you qualify?  Fill out the form below and one of our mortgage team members will contact you with more information.

First Home Club eligibility requirements

  • Must be first-time homebuyers (have not owned a home individually or with a spouse in the last three years)
  • Reside and purchase a home in New York
  • Have a household income at or below 80% of area median income
  • Complete an accredited homeownership course
  • Remain in the home for five years or repay a portion of the grant funds back to FHLBNY

Important information

  • Participants are not eligible to receive the matching funds if they do not complete the savings program
  • Maintaining the First Home Club Savings Account does not guarantee a mortgage approval or approval of the FHLBNY grant
  • All funds are applied towards down payment and closing costs

Find out if you qualify 

Contact Mortgage Professionals

Fill out this form and a GRB Mortgage Originator will contact you within one business day to answer any questions on First Home Club or other mortgage loan options. Fields marked with an * are required.

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