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Bulletin No. 1345 | January 13, 2010

2010 WISH and IDEA Homeownership Programs

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 2010 homeownership set-aside programs for low- to moderate-income households—the Workforce Initiative Subsidy for Homeownership (WISH) Program and the Individual Development and Empowerment Account (IDEA) Program.

Through participating member financial institutions, the WISH and IDEA matching grant programs offer up to $15,000 to eligible households, matching $3 for every dollar contributed by the first-time homebuyer. WISH grants are targeted to working families and individuals who are ready to make the transition from renting to owning. WISH can complement or supplement a number of local, state, and federal homeownership programs and initiatives. IDEA is directed at homebuyers who have been saving for the purchase of their first home through an Individual Development Account (IDA) or participating in their local housing authority’s Family Self-Sufficiency (FSS) homeownership program. Since its inception in 2000, the IDEA Program has been at the forefront of efforts and initiatives to expand asset development for low-income households.

Both programs offer Bank members a unique opportunity to promote homeownership for first-time homebuyers while achieving community investment goals. For 2010, the Bank will set aside a percentage of its annual Affordable Housing Program contribution to provide matching funds to eligible first-time homebuyers for downpayment and closing cost assistance. Members may apply to the Bank for a funds reservation of up to $1,000,000 for each program. Only Bank members may apply.

WISH and IDEA applications will be accepted from January 19 to February 19, 2010. We expect to notify members of the awards by March 31, 2010. All WISH and IDEA funds awarded in 2010 must be used by March 31, 2011. Applications and related program materials are available now on the Bank’s website at

If you would like additional information, please contact the Community Investment Department at (415) 616-2542.



Dean Schultz
President and Chief Executive Officer