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Homeownership

         

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 $22,000 ($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: info@sanpabloedc.org or (510) 215-3206

ADDITIONAL HOMEOWNERSHIP RESOURCES:

WISH - Federal Home Loan Bank of San Francisco

PROGRAM HIGHLIGHTS

  Up to $22,000 in Down Payment/Closing Costs Assistance

   Funds are awarded as a 4-to-1 match ($5,500 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 -  Richmond Neighborhood Housing Services

Foreclosure Prevention - Keep Your Home California

  • Hardship Qualifications
  • Mortgage Reinstatement Assistance
  • Unemployment Mortgage Assistance
  • Principal Reduction

Downloadable Forms, Applications, and Marketing Collateral

WISH Flier