Oakland University Credit Union

We're here to help.

Help Topics

Loans

Home Loans

Accounts

Account Access

Account Services

Account Management

Branch Services

General

Loans

Visa

Accounts

Branch Services

General

Loans

Visa

How can I take advantage of the First Time Home Buyer Savings Account Program?

The State of Michigan is offering a tax deduction on dividend earnings for savings accounts of first time home buyers when funds are used for a first time home purchase. Members can save and use these funds toward a down payment of up to $50,000 through 2026. This program potentially allows first time home buyers to not have to pay income tax on the account earnings if they their tax return is filed with supporting documentation.

For more information about this program, click here.

< previous next >

Was this information helpful?

Yes, thank you

No, not really

Please let us know how we can make this better.

Great!

Thank you for your feedback!

If you are using a screen reader or other auxiliary aid and are having problems using this website, please call 800-766-6828 for assistance. All products and services available on this website are available at all OU Credit Union full-service locations.

Equal Housing Opportunity

Federally Insured by NCUA

Equal Housing Opportunity

Federally Insured by NCUA

Equal Housing Opportunity

Federally Insured by NCUA

NMLS: 405297

Oakland University Credit Union accounts are held at Michigan State University Federal Credit Union where savings are federally insured to at least $250,000 by the and backed by the full faith and credit of the United States Government. APR = Annual Percentage Rate. APY = Annual Percentage Yield. and read our disclaimer regarding links to other sites.

Your Wallet