How the Nest Egg Fund Works
Finally Own Your Own Home
Build, Manage and Expand Your Generational Wealth
By purchasing your first home, the Capital Region lower income community can begin to build, manage and expand wealth now and for generations to come.
In partnership with M&T Bank, Saratoga National Bank and Trust, NBT Bank and the Business For Good Foundation, the Nest Egg Fund helps first-time homebuyers expand their down payment toward the purchase of a new home by up to $50,000.
We provide interest-free down payment assistance. Homeowners do not make any monthly payments on the down payment itself. Instead, upon selling or refinancing, they repay the amount in full, which ensures the Nest Egg Fund can pass along another opportunity to a new family.
Build Wealth With The Nest Egg Fund
From the time you decide to purchase a home to the time you sell or refinance your home, the Nest Egg Fund team is committed to supporting your journey toward generating personal and community wealth.
Buy Your Home
-
Confirm your eligibility for the Nest Egg Fund.
-
Apply for a conventional loan with a Nest Egg Fund approved lender and get approved.
-
Determine your down payment contribution
-
Additionally, secure up to $50,000 from the Nest Egg Fund for down payment or closing costs.
-
Close on your new home and join the Nest Egg Fund community.
Manage Your Wealth
-
Make monthly mortgage payments and maintain your new financial asset.
-
Work with the Nest Egg Fund team to learn how to build equity and manage potential hardships.
Expand Your Wealth
-
If/when you sell your home, realize the income gains
-
Return down payment assistance to the Nest Egg Fund.
