First Home Double-Savings Account

First Home Double-Savings Account

Together, we can make saving for a down payment go farther.

We want to help you reach a life milestone by getting you into your first home. We’re rewarding systematic savings with a significant discount on closing costs for first time homebuyers. Your commitment to saving is matched with our commitment to helping you go farther.

How does the First Home Double-Savings Account work?

  • Meet with a banker to establish a monthly savings goal of $42 or more for the down payment on your first home.

  • Set up automatic monthly transfers from a Bank Mutual checking account to a Bank Mutual First Home Double-Savings Account.

  • For every 12 months from the auto-transfer start date we’ll knock $100 off your Bank Mutual mortgage closing costs for up to 48 months or 4 years, for a total of $400.

Request more information from a local banker near you:

Other rules and restrictions may apply. At least one owner on the Bank Mutual checking account must be a borrower on the Bank Mutual Mortgage and a first-time homebuyer. Standard mortgage underwriting guidelines must be met in order for Bank Mutual mortgage closing cost discounts to be applied. Minimum deposit into First Home Double-Savings account is $25 and a down payment of $2,000 is required to qualify for the program discounts.