For many future homeowners, the biggest hurdle to clear is just getting the down payment — particularly in the current lending environment, where buyers need to show lenders that they can meet the demands of home ownership.

But what if you could save $1,875 and still make a down payment of $9,375 on your first home? If you’re a member of Roma’s First Home Club, you can.

Qualified individuals and couples can become members of Roma’s First Home Club by opening an individual development account — a savings account into which you make regular deposits (over 10 to 24 months) until you reach $1,875. Then, you can apply for up to $7,500 in grants from the Federal Home Loan Bank of New York.

On top of that, Roma will reduce your mortgage rate by 0.125 percent and waive up to $810 in processing fees. They will also waive the private mortgage insurance fee, which can, in five years, save you as much as $4,000 on the cost of your home.

But the First Home Club is about more than just money. It’s also about understanding the responsibilities of owning a home. That’s why every member of our First Home Club must complete a Homebuyer Education course, in which one of Roma’s mortgage experts shows you what you need to know about responsible financial planning, budgeting, and the home buying process.

Homes bought through Roma’s First Home Club must be a member’s primary residence and must be located in New Jersey.

Roma’s First Home Club is not just for first-time buyers. Maybe you have gone through a divorce and your name is no longer on the deed to your former home or you’re a young couple looking to buy a home together. If it has been at least three years since you’ve owned a home, Roma Bank would like to talk with you.

Roma Bank is the only bank in Mercer County that participates in the First Home Club through the Federal Home Loan Bank of New York. For more than 90 years, Roma has provided its community with outstanding banking services. For the same number of years, Roma Bank has helped fulfill the American Dream by making homeownership possible.

Roma Bank. 888-440-7662. www.romabank.com.

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