Saving for a Home 

Individual Development Account
(IDA) Program

• An Individual Development Account, or IDA, is a special savings account for people who would like to save money towards purchasing a home. If you save in an IDA, your money will be matched with $4.00 for every $1.00 saved.
• In addition to earning match dollars, you will learn about budgeting, credit, saving, banking and more when you open an IDA.
• Participants in the IDA program are required to attend financial education classes. Account holders may also receive one-on-one counseling, homebuyer education and other training with their IDAs.
   

For more information, call
(716) 884-7791 Ext.100 • TDD 711

For up-coming orientation dates,
see this website's Calendar page.

First Home Club Program

• The Federal Home Loan Bank of New York launched the First Home Club (FHC) program in 1995 to help income-qualified first-time homebuyers save toward the purchase of a first home. FHC subsidy funds can be used to provide down payment and closing cost assistance to qualified first-time homebuyers who follow a savings plan and participate in Belmont's homeownership counseling program.
• The First Home Club (FHC) matches participants' savings 4 to 1. What that means is that you can save up to $1,875 and be matched with as much as $7,500 towards purchasing a home!
• Accounts are opened at local banks, and Belmont has applications for the program.

For more information, call
(716) 884-7791 Ext. 131 • TDD 711