First Time Homebuyer Savings Account

First Time Homebuyers Saving For Their First Home

Earn Interest and Get Your Tax Benefits

 Parents, Grandparents, or future, new homeowners...saving or helping someone to save for a first home just got easier! Save money in a special Northwest Bank Savings Account for the purchase of a First Home.

It's Easy to Get Started:

  • $1 minimum balance to open.
  • The beneficiary of the funds must be purchasing their first home within the state of Iowa. 
  • The account must be opened for a minimum of 90 days and a maximum of 10 years with the funds used towards the purchase of a first home.1
  • The account applies to first-time homebuyers and those re-entering the housing market, if they have not owned a home within three years. 

Highlights: 

  • No Monthly Maintenance Fee.
  • Receive Tax Benefits. Click here for current annual deduction limits.
  • Earn a competitive rate and even more when you set-up automatic, monthly deposits from your Northwest Bank Checking Account. Click here to view our current rates.
  • Deposit money at any time with no maximum balance amount!
  • Funds can also be transferred to a different beneficiary.
  • Enroll and receive e-Statements.  Or, a free paper statement is available.
  • Access to convenient Banking Tools.

Open a First Time Homebuyer Savings Account Online   

 

Your Convenience, Our Priority: Easy eBanking Solutions

Convenient eBanking tools help you manage and simplify your finances! Online, on your phone or in person, we are there when you need us. Bank at your convenience - Access your account information when you need it. 

  • View your accounts and check images online.
  • Review balance and transaction history.
  • Transfer funds between accounts.
  • Pay bills with BillPay or pay your friends and family with Zelle®.2
  • Access your statements and download your transactions.
  • Stay on top of your credit report and follow your credit score3 with Credit Sense.