To All Members and Interested Community Groups:
I am pleased to announce the start of the application period for the Federal Home Loan Bank of San Francisco’s 2014 Affordable Housing Program (AHP) set-aside homeownership programs—the Workforce Initiative Subsidy for Homeownership (WISH) Program and the Individual Development and Empowerment Account (IDEA) Program. The 2014 application window closes on February 7.
The WISH and IDEA first-time homebuyer programs offer eligible low- to moderate-income households 3-to-1 matching grants of up to $15,000 for the purchase of a home. The funds for these grants are set aside each year from the Bank’s annual AHP contribution and made available through our member financial institutions. Grants can be used for downpayment and closing costs.
Members of the Bank may apply to reserve up to $1 million in funds for each program. Only Bank members may apply. We expect to notify members of the awards by March 31, 2014. All funds allocated in 2014 must be used by March 31, 2015.
Both programs offer Bank members an opportunity to promote affordable and sustainable homeownership for first-time homebuyers while achieving community investment goals.
Applications and related program materials are available at fhlbsf.com. For additional information, please email the Community Investment Department or call (415) 616-2542.
President and Chief Executive Officer