Your first home is our first priority

At Amalgamated Bank, we understand that buying your first home can be challenging and saving up for a large down payment isn’t easy. That’s why we’re pleased to introduce our First Home First Priority Program. It offers qualified first-time homebuyers discounts and features specifically designed to help make homeownership a reality, along with protection for your hard-earned down payment.

First Home First Priority Program1

  • ½% rate discounts on our First-Time Homebuyer adjustable-rate or fixed-rate mortgages
  • Available only to qualified first-time homebuyers, whose income is at or below 80% of the Median Family income, by county, as established by the Federal Financial Institutions Examination Council
  • Eligible for single-family homes, condos and co-ops
  • Maximum loan amount of $500,000

Enjoy unique features

  • Low 5% down payment
  • The entire down payment can come from a gift or grant
  • +Plus Down Payment Protection2 included on single-family homes and condos
  • Seller can pay up to 3% of closing costs
  • No prepayment penalties
  • Lender-paid mortgage insurance

See if you qualify for our First Home First Priority Program

To qualify, your new home must be located in one of the areas below and your household income must be less than 80% of the median for that county.*

County/Area Max. Household Income
5 Boroughs of NYC $58,080
Nassau, NY $84,960
Rockland, NY $58,080
Westchester, NY $58,080
Bergen, NJ $58,080
Essex, NJ $76,080
Hudson, NJ $58,080
Passaic, NJ $58,080
Union, NJ $76,080
Montgomery, MD $90,400
Prince George’s, MD $84,560
Washington, D.C. $84,560
Los Angeles, CA $49,920

Safeguard your down payment and we’ll cover the premium

You can enjoy Down Payment Protection2 on your single-family home or condo at no charge for the 5% down payment through our First Home First Priority Program — now with +Plus by ValueInsured (co-ops are not eligible). In the event of a sale during a market downturn, +Plus is currently the only program that reimburses homeowners up to the full amount of their down payment.

To see if you qualify for our First Home First Priority Program, call us at 866-280-7435

First Home First Priority: There is no additional cost for Mortgage Insurance with the First Home First Priority Program. Rates, program terms and conditions are subject to change without notice. Not all products are available in all states or for all amounts. Income, geographic and other restrictions and limitations may apply.
2 +Plus by ValueInsured Down Payment Protection: There is no additional cost for +Plus by ValueInsured Down Payment Protection on the first 5% down with the First Home First Priority Program. For you to receive coverage, your home must be: A single-family home or condo sold for less than it was purchased, as per The Federal Housing Finance Administration (FHFA) Home Price Index from your home’s state; sold at least 2 years after your home purchase but no more than 7 years after your home purchase; owner-occupied during the entire coverage period — no rentals; sold to an unrelated third party and no leasebacks are allowed. Coverage is not yet available for co-op purchases. Check policy terms and conditions. PVI Agency, LLC dba ValueInsured is a licensed agency in all 50 states and the District of Columbia, and is not affiliated with Amalgamated Bank. Terms and conditions of the insurance described herein as Down Payment Protection, including pricing, are determined solely by the issuer of the coverage and not by Amalgamated Bank. The description of Down Payment Protection contained herein should not be considered as a solicitation nor an offer to provide such insurance in any jurisdiction whatsoever where it would be unlawful to do so, including, specifically, the state of New York. The Down Payment Protection product is insurance: not a deposit — not FDIC-insured — not insured by any federal government agency — not guaranteed by the bank. Approval of your mortgage loan will not be conditioned upon your obtaining Down Payment Protection and this insurance may be available from other sources.
All loan applications are subject to credit and property approval.
© 2017 Amalgamated Bank. All rights reserved. Equal Opportunity Lender. Amalgamated Bank NMLS ID#898791. Rev. 01/2017



Call now to see if you qualify
Mon. - Fri. 8 AM - 8 PM ET
Sat. 9 AM - 2 PM ET