XCEL
First-Time Homebuyers

Are you ready to own your first home?

We participate in the Federal Home Loan Bank of New York's First Home Club (FHC) program, which is designed to assist moderate and low income first-time home buyers in the purchase of a home.

For every $1 you deposit and save in your dedicated savings account here at XCEL FCU, FHLBNY will deposit $4 in matching funds per household (not to exceed $7,500).* See chart below for example.

  10-Month Plan 18-Month Plan 20-Month Plan
Monthly Member Contribution: $187.50 $104.17 $93.75
Total Member Contribution: $1,875.00 $1,875.00 $1,875.00
Matching FHLBNY Amount: $7,500.00 $7,500.00 $7,500.00
Total: $9,375.00 $9,375.00 $9,375.00

To learn more about eligibility, click here.

Make your dream of owning your home a reality, contact our Lending Team at 973.ASK.XCEL (275.9235), Option #2.

*XCEL Federal Credit Union will not match funds deposited in other savings accounts at XCEL FCU or other institutions. Funds that you may deposit into the dedicated savings that are not the result of systematic savings will not be included in determining the matching funds total.