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Matched Savings Accounts

Special matched savings accounts are designed to assist people with low to moderate income on the path toward asset ownership.

Read below to learn more about our various matched savings accounts:

Workshops for Prospective Homeowners:

Intro to Homeownership


BIPOC Prosperity Fund of Tompkins County - Home Purchase

Spots are full at this time, please send an email to [email protected] if you would like to be added to a waiting list for future funding. 

Are you a member of the BIPOC (Black, Indigenous, People of Color) community who wants to buy your first home in Tompkins County?

This is a down-payment assistance program offered to help low to moderate income first-time homebuyers in the BIPOC community purchase a home in Tompkins County.

Participants can save up to $2,500 to be matched with $20,000 for a total of $22,500 to go towards the downpayment on your new home! More details are below.


BIPoC Prosperity Fund – Home Purchase

Asset goal

First home purchase

Minimum savings contribution


Maximum amount of assistance


Total amount for home purchase


Income eligibility limits per household (hh)


(Income limits subject to change)

Minimum income: $30,000

Maximum income:

1-2 person hh: $68,480*

3 or more: $78,752*


(Income limits subject to change)

Education requirements


INHS Homebuyers course within 2 years prior to home purchase

Home Purchase Location

Home must be purchased in Tompkins County

Mortgage Lender requirements

Do not need to get a mortgage with Alternatives in order to receive assistance

Time Limit

Deadline for home purchase is one year from enrollment


Please contact AFCU's Housing Counseling Manager for more enrollment details

Spots are full at this time, please send an email to [email protected] if you would like to be added to a waiting list for future funding. 

Participants will be selected from a pool of eligible candidates. We anticipate high interest of eligible candidates, with limited spots available. However, our commitment to working with you remains strong! We want to work with all households to achieve their dreams of homeownership, and will do our best to assist and accommodate through our counseling program, as well as other sources of funding.

Homebuyer Dream Program

The Homebuyer Dream Program is a matched savings program offered to assist low to moderate income first time home buyers in Tompkins, Cortland, Tioga, Chemung, Schuyler, Seneca, Steuben, and Cayuga Counties. This program is sponsored and funded by the Federal Home Loan Bank of New York.

Participants can save up to $1,000 to be matched with with anywhere from $9,500 to $19,500 to go towards the asset goal of homeownership.

Eligible households will work with Alternatives’ staff to prepare for homeownership through a series of counseling sessions. When the household has accomplished all the necessary tasks to prepare for home ownership, they may meet with our mortgage department to obtain pre-qualification in order to start looking for homes.

Qualities Homebuyer Dream Program

Income eligibility limits per household 

(income limits subject to change)

1-2 person: $84,880 for Tompkins County3 or more: $97,612* for Tompkins County

All other counties = $82,960 for 1-2 person hh

                                   $95,404 3+ person hh

Employment Must be full time (32+ hours/week) 
or equivalent
Education requirements Money Wise and INHS Homebuyers Course
within 18 months prior to home purchase
Other Have signed sales purchase contract,
dated prior to funding reservation request
Pre-qualification Must get a mortgage with Alternatives
in order to receive matching funds
Closing requirements Must sign a 5-year subordinate mortgage
for the total amount of the assistance received

We work with you to determine which route to home ownership is best for your situation. One size does not fit all, and we make sure you are well informed as you move along the road to a new home. Learn more about our home mortgage loans.

Please note that it is not until the household has an offer accepted on a home that the reservation requests for funding will be submitted to the funders. Only after the reservation request is confirmed by the funders is the household officially enrolled in the program. 

Funds are available on a first-come, first-served basis. Meeting with Alternatives’ staff or mortgage department does not guarantee availability of assistance. Once the funders have confirmed the reservation request, the household will then have a total of 120 days to close on the home.

Funding for the 2024 season opens January 8, 2024. Limited spots are available for the year. Spots are reserved on a first come, first served basis.

For more information, see Alternatives' staff, or click the "Request info" button above.

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