CALIFORNIA: On April 9, FHL Bank San Francisco said it would give $12 million to its Workforce Initiative Subsidy for Homeownership (WISH) Program for 2025.
People and families with low to moderate incomes can apply for a WISH grant of up to $32,099 to help them buy a house.
The bank said it works with Californian, Arizonan, and Nevadan lenders to make towns stronger, give people more chances, and improve people’s lives.
“In today’s tough housing market, where home prices are going up and the supply of affordable homes is still low, WISH grants have been shown to help more people become homeowners,” said Joe Amato, acting president and CEO of FHLBank San Francisco.
First-time homebuyers who make at least 80% of the area median income can take part in this program.
First-time owners who qualify and make at least 80% of the HUD area median income can get help with their down payment and closing costs through the WISH Program.
The FHLBank San Francisco gives grants to its partner banks that are equal to $4 for every $1 they receive.
If a first-time homebuyer wants to know more about WISH matching grants, they should get in touch with a participating member school.
“Every year, my rent went up by $100”
Diane Fuchs, a single mother and grandmother who had been renting for 25 years, got $30,800 in down payment help from FHLBank San Francisco and Tri Counties Bank.
“Every year, my rent went up by $100,” Diane said. “I know exactly what I need to do now.” It makes me feel very safe.
Scott Robertson, head of community banking for Tri Counties Bank, said that they care a lot about making homes affordable all over their service area.
Through the WISH program, we work with the Federal Home Loan Bank of San Francisco to help people reach their goal of owning their own home. This is at the heart of what Robertson does.