Skip To Content
Back to News List

ESL Offers New Mortgage Option for First-Time Homebuyers

The new, affordable, and conventional mortgage option allows first-time homebuyers to have a down payment as low as three percent.

Rochester, NY — ESL Federal Credit Union announces a new, affordable mortgage product to reduce hurdles for first-time homebuyers. The new mortgage, HomeOne℠, offers unique benefits for those who may have limited funds for a down payment.

The HomeOne℠ mortgage product allows first-time homebuyers a low down payment option — as little as three percent down — on a single-family home and does not have any income or geographic restrictions for applicants (for properties within ESL’s ten-county lending area1). This new product further complements ESL’s diverse mortgages and grant-assistance programs, such as the First Home Club℠, geared to help with down payment and closing costs. ESL encourages all first-time homeowners to complete homebuyer education (with classes available in English or Spanish) prior to closing.

“As we see an increasing trend of younger and first-time homebuyers, we’re pleased to provide this new mortgage option to help meet their homebuying needs,” said Dave Brooks, senior vice president/director of lending. “We know many first-time homebuyers may not have the resources for a significant down payment, but still have a dream of owning their own home. Now we can better help make that dream a reality for many.”

Those with a limited income or difficulty coming up with down payment funds can also consider the Home Possible® mortgage program for increased flexibility and savings, but the borrowers’ annual income cannot exceed Housing & Urban Development area median income limits unless the property is in an underserved area.

Specifics about the new mortgage products can be found in the Mortgage Solutions section on or by calling a Mortgage Origination expert at 585.336.1502.

About ESL Federal Credit Union

For 16 years, ESL has been a “Rochester’s Choice” Gold Award winner in Banking Services and additionally for the past two years a Rochester’s Choice Gold Award winner as Best Mortgage Lender by Democrat and Chronicle.

With nearly 100 years of locally-owned history, ESL Federal Credit Union serves as a full-service financial institution to approximately 348,000 members world-wide. The company provides personal, business banking, and wealth management services through its locally-based 21 branch network, telephone, mobile, online and live chat center.

The Rochester-based financial institution employs more than 775 people in Rochester, New York and holds $6.0 billion in assets. The company has appeared on the Great Place to Work® Best Small & Medium Workplaces list for eight years since 2010. ESL Federal Credit Union is headquartered at 225 Chestnut Street, in Rochester, and can be found on the Internet at

Find and connect with ESL on Twitter (@ESLFCU) and Membership subject to eligibility.

# # #

Rates and program is subject of credit evaluation. Products and programs are subject to change or could be withdrawn at any time without notice. Membership subject to eligibility. ESL is an Equal Opportunity Lender. ESL is a registered service mark of ESL Federal Credit Union. This credit union is federally insured by NCUA. 1Property must be located in one of the following New York State counties: Genesee, Livingston, Monroe, Ontario, Orleans, Seneca, Steuben, Wayne, Wyoming, and Yates.

For more information, contact:

Rich Pulvino, APR
Vice President/Director, Corporate Communications