Albany Matched Savings Program

Need some extra help to reach your goal of homeownership? The AHP City of Albany Matched Savings Program for first time homebuyers can help you become credit ready to buy. Don’t delay! The window to enroll in this program ends in June 2026.

Over a period of 6-10 months, save $1 and receive $3 up to $1500 — that’s save $500 and receive $1500, a 3:1 match.

You can use the funds to:

• pay off collection debt

• pay down credit cards

• open secured credit cards to build your score

• build your savings for your down payment

To be eligible, be a City of Albany resident and first time homebuyer. Earn less than 100% of area income (that’s $116,125 for a household of 4). Be in need of help to strengthen your financial situation.

Households who have successfully completed their savings program often set up a special home buyer account at their financial institution. If you save $83 every month for 6 months, you’ll have saved $500. Or save $50 each month for 10 months to reach your $500 savings. Think of this as a test to see if you can comfortably afford a higher mortgage payment.

Get started by attending Homebuyer 101, then meet with your housing advisor to learn more.