You are here
WISH
Federal Home Loan Bank of San Francisco's
WISH (Workforce Initiative Subsidy for Homeownership)
Federal Home Loan Bank (FHLB) of San Francisco's WISH (Workforce Initiative Subsidy for Homeownership)
WISH offers first-time homebuyers a matching grant up to $30,806 ($4 for every $1 the homebuyer puts in)
toward the purchase of a home. WISH grants are provided to eligible homebuyers through FHLB member
institutions, such as Mechanics Bank, with whom San Pablo EDC is partnering to make the grants available.
For more information and application contact: sepidehk@sanpabloedc.org - (510) 215-3207
Click here and fill the WISH Interest & Eligibility form
ADDITIONAL HOMEOWNERSHIP RESOURCES:
WISH - Federal Home Loan Bank of San Francisco
PROGRAM HIGHLIGHTS
Up to $30,806 in Down Payment/Closing Costs Assistance
Funds are awarded as a 4-to-1 match ($7,701.5 maximum contribution from buyer)
No payments due. 20% is forgiven for ever year you reside in the property; after 5 years 100% of grant is forgiven
Funds available on a first-come, first-served basis with a fully executed purchase contract. Subject to availability of funds.
WISH funds may only be used toward downpayment or reasonable and customary closing costs in association with the purchase of a housing unit to be used as the primary residence of the homebuyer
QUALIFYING CRITERIA
Family income must not exceed 80% of the HUD Income Limits for Oakland-Fremont CA HUD Metro FMR Area
Borrower must be a first-time homebuyer
Borrower must occupy the property as primary residence
Borrower must complete 8 hours of HUD-approved first-time homebuyer education
Debt to housing expense ratio must not exceed 35% of gross household income
Single-family detached homes, condominiums, and town homes are eligible
First-time Homebuyers Assistance - California Housing Finance Agency
- Down Payment Assistance
- Low-Interest Rates
First-time Homebuyers Education - Balance
- Homebuyer Education and Counseling For
Foreclosure Prevention - Keep Your Home California
- Hardship Qualifications
- Mortgage Reinstatement Assistance
- Unemployment Mortgage Assistance
- Principal Reduction