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Individual Development and Empowerment Account (IDEA) Program

Through participating Bank members, lower-income households saving to buy their first home by participating in an IDA, FSS, or lease-to-own program can receive a 3-to-1 matching grant of up to $15,000. IDEA grants can be applied to downpayment and closing costs. Learn more. 

The application period for the 2017 IDEA Program closed on February 8, 2017. We plan to announce the results the first week of April 2017.

Only Bank members may submit applications for IDEA Program funds. Individuals looking for homeownership assistance programs should visit the Resources for First-Time Homebuyers section of our website.

Homebuyer eligibility requirements and other program details are available in the program profile. IDEA grants may be used in conjunction with a variety of local, state, and federal homeownership programs. Review First-Time Homebuyers: Overview of Resources to learn more.

In 2016, 10 members reserved $2.6 million in IDEA funds to assist eligible homebuyers.

2016 IDEA Program Results - Participating Financial Institutions
IDEA Program Awards History

 

 

IDEA Program Subsidy Disbursement Requirements for Member Banks and Sponsors

  1. Homebuyer has participated in an Individual Development Account (IDA) program, successfully completed a Family Self-Sufficiency program leading to homeownership through a local housing authority, or participated in a lease-to-own program administered by a government entity or nonprofit organization.
  2. Homebuyer has saved towards the purchase of a home for either a minimum of 10 months with an IDA or FSS program, or 3 years with a lease-to-own program.
  3. Member determines household's income eligibility and accepts homebuyer into the IDEA Program. Member completes and signs the IDEA Program Enrollment Form.
  4. Homebuyers are qualified according to their place of residence at time of enrollment. First visit FFIEC to determine the Metropolitan Statistical Area (MSA) for the homebuyer. Then visit HUD to determine the Area Median Income (AMI) limits for the particular year and MSA.
  5. Member must use the AHP Household Income Qualification Workbook to calculate total annual income for each household. The Bank requires that each AHP-assisted unit be income-qualified according to AHP Income Qualification Guidelines and that proper third party income documentation be provided according to the Acceptable Forms of Verification for Household Income Qualification.
  6. Member funds the IDEA grant to homebuyer at closing. Once homebuyer closes, member submits documentation to get reimbursed by the Bank. Member submits households' disbursement documentation after each individual household closes.
  7. Members are required to submit their reimbursement request with supporting documentation within two months from the date the home purchase transaction closes. If there is any deficiency in the documentation, members have up to four months to cure that deficiency. Use the IDEA Disbursement Checklist as a guide to submitting a complete disbursement request. A disbursement request submitted by the member for each household that has received an IDEA grant should include the following:

  8. Member submits disbursement request, with complete information and documentation, via a secure portal hosted by Blackberry Workspace.

Upon receipt of disbursement request from member and satisfactory review of all required documents, FHLBSF will usually reimburse within 15 business days.

IDEA Disbursement Webinar - watch a video recording of our most recent webinar to learn how to submit a complete disbursement package.

Under certain circumstances, members may be required to return IDEA subsidies to the Bank.
Documents related to repayments/assumptions must be submitted electronically via the Bank’s secure portal.

IDEA Repayment Webinar - watch a video recording of our most recent webinar to learn how to submit a repayment to the Bank.

Repayment of IDEA Subsidy

Members may be required to return IDEA subsidies to the Bank if there is net gain that is the result of:

  • Resale of an IDEA-assisted unit to a non-income qualified homebuyer (household income above 80% of area median income), if the resale occurs within the 5-year IDEA retention period; or
  • Refinance of an IDEA-assisted unit without subordination to a new first mortgage, if the refinance occurs within the 5-year IDEA retention period.

The pro rata repayment will be based on the amount of time remaining in the IDEA retention period (based on the loan closing date). The subsidy repayment calculation must be based on the Bank's methodology using the AHP Notice of Resale or Refinance with Subsidy Repayment Workbook.

Members must notify the Bank in the event that the IDEA-assisted homebuyer resells or refinances without subordination to a new first mortgage. Submit a completed copy of the AHP Notice of Resale or Refinance with Subsidy Repayment Workbook via the Bank’s secure portal at the time of notification of subsidy repayment. All repayments must be remitted to the Bank via wire transfer.

Assumption of IDEA Subsidy and Foreclosure

Assumption

Members must notify the Bank in the event that the IDEA-assisted homebuyer refinances and subordinates the IDEA subsidy to a new first mortgage note.

Submit a completed copy of the AHP Notice of Refinance with Subordination Workbook via the Bank's secure portal at the time of notification to the Bank of subsidy assumption.

Property Foreclosure

Generally, the obligation to repay IDEA subsidy to the Bank shall terminate after any foreclosure. However, the member must notify the Bank of a foreclosure event occurring within the 5-year IDEA retention period.

Submit a completed copy of the AHP Notice of Foreclosure Workbook via the Bank’s secure portal at the time of notification of foreclosure.

The AHP Implementation Plan sets forth certain policies, procedures, standards, and requirements applicable to the Bank’s AHP, as required by the AHP Regulations (Title 12, Part 1291 of the Code of Federal Regulations). While the Implementation Plan includes other pertinent information pertaining to the Bank’s AHP, the plan is not intended to be a comprehensive statement of all of the Bank’s applicable policies and procedures.

Policy Updates 

January 12, 2016
2016 WISH and IDEA Homeownership Programs

January 13, 2015
2015 WISH and IDEA Homeownership Programs

January 13, 2014
2014 WISH and IDEA Homeownership Programs

December 16, 2013
Affordable Housing Program (AHP) Implementation Plan Revisions and Other Changes

November 1, 2013
Revised AHP Household Income Qualification Workbook

January 9, 2013
WISH and IDEA Homeownership Programs

December 21, 2012
Revised AHP Implementation Plan 

August 15, 2012
Revised AHP Implementation Plan

January 31, 2012
Revised AHP Implementation Plan 

January 10, 2012
2012 WISH and IDEA Homeownership Programs

December 21, 2011
Revised AHP Plan 

October 3, 2011
Revised Affordable Housing Program Implementation Plan: Change Related to Resubmitted Projects

August 8, 2011
Revised Affordable Housing Program Implementation Plan 

May 17, 2011
Revised AHP Sample Retention Documents and Direct Subsidy Agreements

April 5, 2011
Revised Affordable Housing Program Implementation Plan: Change Affecting the Competitive Program 

January 6, 2011
2011 WISH and IDEA Homeownership Programs

January 4, 2011
AHP Retention Documents – Sample Documents Available Online 

December 22, 2010
Revised AHP Implementation Plan

November 9, 2010
WISH and IDEA Programs: New Disbursement Request Deadlines  

August 16, 2010
Revised Affordable Housing Program Implementation Plan

April 1, 2010
Revised Affordable Housing Program Implementation Plan 

February 11, 2010
Revised Affordable Housing Program Implementation Plan

February 5, 2010
New Affordable Housing Advisory Council Members Appointed

January 13, 2010
2010 WISH and IDEA Homeownership Programs

November 25, 2009
WISH and IDEA Programs Disbursement Policy: Consumer Debt Payoffs

October 28, 2009
The Bank's First-Time Homebuyer Grants and FHA Streamlined 203(k) Rehab Program 

October 8, 2009
Revised Affordable Housing Program Implementation Plan

August 25, 2009
Revised Affordable Housing Program Implementation Plan  

February 10, 2009
Revised Affordable Housing Program Implementation Plan

January 13, 2009
2009 Homeownership Programs 

December 22, 2008
Revised Affordable Housing Program Implementation Plan

August 29, 2008
Revised Affordable Housing Program Implementation Plan

August 31, 2007
Changes to Income Qualification Guidelines and New Workbook 

The Bank now accepts documents electronically, using a secure portal hosted by Blackberry Workspace.
All forms and documents related to the IDEA Program are available here.

Application Materials

IDEA Program Application Materials (SAMPLE)

Disbursement

IDEA Disbursement Checklist
IDEA Program Enrollment
IDEA Program Certification and Disbursement Request
IDEA Program Certification and Disbursement Request – Attachment 1
AHP Household Income Qualification Workbook
Promissory Note
Rider to Deed of Trust 

Repayment/Assumption

AHP Notice of Foreclosure Workbook
AHP Notice of Resale or Refinance with Subsidy Repayment Workbook
AHP Notice of Refinance with Subordination Workbook 

Policy Updates and Regulations

AHP Implementation Plan

Other Documents

AHP and FHA Financing
Homeownership Set-Aside Programs Secure Portal Workspace Set-up Request
Homeownership Set-Aside Programs Portal User Agreement

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