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WISH Program

The Workforce Initiative Subsidy for Homeownership (WISH) Program provides grants to qualified homebuyers through our members. The program is designed to help people living in high-cost areas to purchase homes near their work.

  • Only Bank members may submit applications.
  • Participants must complete a mortgage assistance program administered by a public or private entity.
  • The household income of the homebuyer at the time of approval in the mortgage assistance program is 80% or less of the HUD area median income.
  • Homebuyers must contribute at least 1% of the purchase price from their own funds.
  • Participants must complete homebuyer counseling.
  • Under the WISH Program, the Bank will provide up to $15,000 per household, matching up to $3 for every dollar contributed by the homeowner toward the purchase of the home.
 
More Information

The AHP Implementation Plan (PDF) explains the Bank's guidelines for this homeownership set-aside program. Participation in the WISH Program requires compliance with all WISH policies, procedures, regulations, and obligations. Noncompliance may subject awards to cancellation and/or repayment of WISH funds. The Bank reviews all WISH projects at the time of reservation of funds and monitors all WISH projects at the time of disbursement to ensure the eligible use of WISH funds.
 
The AHP regulation requires that AHP-assisted owner-occupied units be subject to a deed restriction or other legally enforceable retention agreement. The sample AHP Promissory Note (.doc) and Rider to Deed of Trust  (.doc) for the Homeownership Set-Aside Programs (IDEA and WISH) may be used to prepare the AHP retention documents. These forms are provided only as guides when preparing a note and rider to the deed of trust for owner-occupied units. These documents address the minimum retention requirements of the AHP Regulation only.  The rider is a document designed to be attached to a member's deed of trust and recorded with the deed of trust. The Federal Home Loan Bank of San Francisco makes no representation or warranty that a court will enforce these form documents in accordance with applicable state law.  We strongly recommend that each member have its counsel review the documents to address any state law requirements, including but not limited to consumer credit laws, notary requirements, usury laws, recording procedures and requirements, and requirements for mortgage states. The final note and rider to the deed of trust must meet the requirements of your jurisdiction.

For Consumers

Are you a consumer looking for homeownership opportunities?
© 2000-2008 Federal Home Loan Bank of San Francisco
Federal Home Loan Bank of San Francisco

WISH Program

The Workforce Initiative Subsidy for Homeownership (WISH) Program provides grants to qualified homebuyers through our members. The program is designed to help people living in high-cost areas to purchase homes near their work.

 
More Information

The AHP Implementation Plan (PDF) explains the Bank's guidelines for this homeownership set-aside program. Participation in the WISH Program requires compliance with all WISH policies, procedures, regulations, and obligations. Noncompliance may subject awards to cancellation and/or repayment of WISH funds. The Bank reviews all WISH projects at the time of reservation of funds and monitors all WISH projects at the time of disbursement to ensure the eligible use of WISH funds.
 
The AHP regulation requires that AHP-assisted owner-occupied units be subject to a deed restriction or other legally enforceable retention agreement. The sample AHP Promissory Note (.doc) and Rider to Deed of Trust  (.doc) for the Homeownership Set-Aside Programs (IDEA and WISH) may be used to prepare the AHP retention documents. These forms are provided only as guides when preparing a note and rider to the deed of trust for owner-occupied units. These documents address the minimum retention requirements of the AHP Regulation only.  The rider is a document designed to be attached to a member's deed of trust and recorded with the deed of trust. The Federal Home Loan Bank of San Francisco makes no representation or warranty that a court will enforce these form documents in accordance with applicable state law.  We strongly recommend that each member have its counsel review the documents to address any state law requirements, including but not limited to consumer credit laws, notary requirements, usury laws, recording procedures and requirements, and requirements for mortgage states. The final note and rider to the deed of trust must meet the requirements of your jurisdiction.

For Consumers

Are you a consumer looking for homeownership opportunities?


© 2000-2008 Federal Home Loan Bank of San Francisco