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Question

Does money placed in a Marcus (Goldman Sachs) HYSA count for the Alabama First Time Second Chance Homebuyer account? We placed money in the HYSA then withdrew to buy home

Forum|Forum|1 year ago
February 10, 2025
1 reply
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The Alabama First Time Second Chance Homebuyer Savings Account (FTSCHA) program has specific requirements for qualifying accounts. A High-Yield Savings Account (HYSA) like Marcus by Goldman Sachs might not meet these criteria unless designated for homebuyer savings.

To receive these benefits, individuals or couples can open one of these tax-free savings accounts at any local bank, credit union, or other financial institution in Alabama. For more information about the FTSCHA program and how to set up an account, visit the Alabama Department of Revenue page or the Alabama Realtors page.