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Resources for First-Time Homebuyers

The Federal Home Loan Bank of San Francisco’s Community Programs include targeted grant and credit programs that benefit lower-income individuals, families, neighborhoods, and communities in areas served by our member financial institutions. These programs can only be accessed by Bank members or through community-based groups that partner with our members. The Bank does not provide any products, services, or grant funds directly to homebuyers.

Through Bank members who participate in our first-time homebuyer programs, eligible homebuyers may be able to receive grants that can be used for downpayment and closing costs. Using funds they receive from the Bank, our members typically work in partnership with local nonprofit organizations to assist eligible homebuyers.

To learn more, contact a participating Bank member for the grant program that interests you, or find a homebuyer counseling agency or qualifying savings program in your area that can assist you.

FHLBank San Francisco’s First-Time Homebuyer Programs

Our homeownership programs offer grants of up to $15,000, matching $3 for every $1 contributed by the homebuyer toward the purchase of home. Both programs service individuals and families earning up to 80% of area median income.

Workforce Initiative Subsidy for Homeownership (WISH) Program

Targeted to first-time homebuyers who are ready to make the transition from renting to owning.
WISH Program Profile – includes homebuyer eligibility requirements.
Participating Bank Members – financial institutions with a current reservation of WISH funds

Individual Development and Empowerment Account (IDEA) Program

Targeted to first-time homebuyers saving for a home through an Individual Development Account or by participating in a Family Self-Sufficiency or lease-to-own program.
IDEA Program Profile – includes homebuyer eligibility requirements.
Participating Bank Members – financial institutions with a current reservation of IDEA funds

Affordable Housing Resources

To learn about other affordable housing opportunities in your area, contact your county or city housing authority, or visit:

U.S. Department of Housing and Urban Development – offers consumer information regarding homeownership assistance programs, rental and homebuying assistance programs, consumer workshops, a searchable database to tap information about homes

Mortgage Bankers Association of America – a national membership association that offers homebuying tips, information about refinancing, detailed news on purchasing, owning and managing a home mortgage

National Low Income Housing Coalition – a national policy advocacy organization that provides fact sheets and a list of frequently asked questions on topics ranging from homeownership to public housing to homeless assistance

Freddie Mac – offers extensive information and resources on buying vs. renting, how to get ready to purchase a home, and the mortgage process

KnowYourOptions.com – Fannie Mae offers information and resources on homebuying, including a mortgage calculator