First Time Homebuyer Program

A house is so much more than a roof over your head. It's a private movie theatre, a gallery for budding artists, and a restaurant where you always have a table -- in a word, home. Let us help you find yours.

Bank of the Finger Lakes offers assistance to qualified buyers* through the First Time Homebuyer Program. Save up for your down payment with a special savings account and get up to $7,500 toward the purchase of your home! And because we're your neighbors, you'll receive a quick decision.

Benefits to the Buyer
  • A matching funds grant is available through the Federal Home Loan Bank. The match is done on a 4:1 basis up to $7,500 towards the purchase of a home! So that means for every one dollar you deposit into a specialized USNY Bank First Time Home Buyer savings account we will match with a contribution of four dollars.
  • The First Time Home Buyer savings account is required to qualify for the program. There is a minimum savings period of 10 months, but not longer than 24 months to be eligible for the grant. This money also may not be withdrawn from the account unless it is going towards the purchase of a home.
  • First time homebuyer is defined as anyone who has not owned a home in the past 3 years.
  • A home buyer education class is required and will be provided by a local housing agency during the savings period mentioned above.
  • Income limits do apply to this program. Total household income must be at 80% or less than the median income in the area which they currently live.
  • For more questions or to apply please contact Matt Murphy, Mortgage Loan Originator/NMLS #36011, at (315) 789-1500, (585) 755-3726 or

*Designed for low to moderate income homebuyers looking to purchase their first home.

This program is designed for an individual or household not looking to purchase a house right away, but are looking to start saving to purchase one in the next year or two.

Even after all the requirements are met, completing the program doesn't automatically guarantee that you will qualify for a mortgage. Participants must go through the normal mortgage qualification process.

NMLS# 645557