1st Time

Mortgages

First Time Buyer

We offer a “First Home Club Program” which is offered in conjunction with the Federal Home Loan Bank of New York (FHLB).

How it works

  • Open a dedicated First Home Club savings account at Rondout Savings Bank.
  • Rondout Savings Bank will pay 2% above the bank's current savings rate on your First Home Club savings account (up to a maximum of $5,000.00) for every one dollar saved in your dedicated account.

How you qualify

  • You must be a first time home buyer (no previous homeownership within the past 3 years)
  • Income restrictions apply and are provided by RUPCO
  • You must complete the Homeownership Counseling program offered by RUPCO
  • You must open and maintain a Rondout Savings Bank First Home Club savings account for a minimum of 10 months to a maximum of 30 months and agree to regular systematic monthly deposits.

All loans are subject to credit approval.