Workforce Initiative Subsidy for Homeownership (WISH) Program

Lower-income households, individuals and families ready to transition from renting a home to owning a home can receive a 3-to-1 matching grant of up to $15,000. WISH grants can be applied to down payment and closing costs.

Homebuyer Eligibility

To be eligible for WISH funds, the homebuyer must meet the following eligibility criteria:

• Homebuyer has been enrolled by the participating member in the WISH Program.*
• Homebuyer has successfully completed a homebuyer counseling program.
• Homebuyer is a first-time homebuyer, as defined by the member.
• At the time of enrollment in the WISH Program, homebuyer meets income eligibility guidelines as published by the Bank, and is at or below 80% of the HUD area median income.
• Homebuyer must open escrow on a home purchase transaction within one year of enrollment in the WISH Program.
• Homebuyer contribution may include sweat equity.

*Enrollment in the WISH Program does not guarantee the homebuyer receipt of WISH funds.

Use of Funds

WISH funds may only be used toward down payment or reasonable and customary closing costs in conjunction with the purchase of housing to be used as the primary residence of the homebuyer. WISH funds may not be used by the member or the homebuyer in conjunction with projects or units receiving other subsidies from the Bank through its competitive AHP or other set-aside programs.

We are not a lender and do not offer these programs directly.

Who Is Funding This Program?

Federal Home Loan Bank of San Francisco sets aside a portion of its annual Affordable Housing Program contribution to provide matching grants through Bank members for down payment and closing cost assistance to eligible first-time home buyers.

visit Federal Home Loan Bank San Francisco for more information and approved lenders