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Bulletins and Notices
April 26, 2018

AHP Subsidy Repayments: Calculating a Homeowner's Net Gain on Sale or Refinance

When a household that has received a direct subsidy through the competitive AHP (owner-occupied projects) or the AHP set-aside homeownership programs (WISH or IDEA) realizes a net gain from the sale or refinancing of their home while the retention period is in effect, they may be required to repay a pro rata share of the AHP subsidy to the Bank. 

To help you determine whether a homeowner is required to make a subsidy repayment, the Bank has revised the AHP Notice of Resale/Refinance with Subsidy Repayment Workbook to include the formula for calculating a net gain. The workbook will calculate the net gain as the sales price (or amount of the new mortgage) minus the original purchase price, purchase and seller paid costs, and capital improvement costs.

The workbook is available now at fhlbsf.com. If you have any questions, please email communityinvestment@fhlbsf.com or call 415-616-2542.