For many hardworking middle-income individuals and families, rising housing costs make buying a home feel out of reach. Yet that dream remains powerful—often tied to family history, personal sacrifice, and the hope of building a stable future. For Phoenix-area resident John, that dream was shaped by the path his parents carved.

“My parents came here as immigrants. They started off renting, eventually moving out here and then were blessed with a home. Seeing them as an example was always something that I have wanted to strive for.” For John, homeownership wasn’t just about a place to live—it represented stability, legacy, and a foundation for the family he hopes to build.

For years, John has worked in manufacturing in the Phoenix metro area, assembling HVAC units. With a dream of homeownership, he saved his money, sacrificing vacations and social time to lay the groundwork for a future of homeownership. “I was a workhorse for five years,” he recalls. “I sacrificed a lot… buckling down to save money.”

John’s hard work paid off. After building his savings and then qualifying for the Federal Home Loan Bank of San Francisco’s Middle-Income Downpayment Assistance Program through his local financial institution, TruWest Credit Union, John had all he needed to purchase a home of his own.

The Middle-Income Downpayment Assistance Program offers matching grants to middle-income first-time homebuyers, providing them with up to $50,000 for downpayment and closing costs. Having enough funds for a downpayment is a stiff entry barrier for many in the Phoenix housing market where home prices have climbed to challenging levels for all buyers but especially for first-time buyers.

Chris Kearney, CEO of TruWest Credit Union, a member of the Federal Home Loan Bank of San Francisco, explains the challenge many middle-income earners face. “Owning a home is the number-one wealth-building tool for the middle class… but the ability for a young family or professional to enter the housing market in Arizona is just very difficult today.”

Through community lenders like TruWest Credit Union that participate in the Middle-Income Downpayment Assistance Program, eligible middle-income homebuyers who earn just over 80% up to 140% of the area’s median income can receive matching grants to help overcome the steep hurdle of a down payment and closing costs. The goal of the program is to help hard-working middle-income people with dreams like John’s access sustainable homeownership earlier in their careers and build financial security in the local communities they serve.

“This program has really helped me and helped me out with the funds that I needed,” John says. With assistance from the grant, he was finally able to purchase a home in the Phoenix area. At his new home, he savors the views of the Superstition Mountains and is working to refinish a dining room table—all meaningful markers of stability that comes with pride in homeownership.

For TruWest Credit Union, the program aligns well with their mission of helping their members achieve their financial goals. “As a credit union and a community-based financial institution, we’re really serving our friends, family, and neighbors. It’s often a process to get to know them and find out how they might fit into these grant programs. It’s an upfront investment in a relationship with our members, not just a transaction,” says Kearney. He also notes the broader impact: “Seeing a family move into a new home and seeing how life-changing that can be for them, connected to local schools and neighborhoods—it’s incredibly rewarding. We’re just so privileged to partner with the Federal Home Loan Bank… We could not make these dreams come true without the funding that’s provided through the generosity of the Federal Home Loan Bank of San Francisco.”

Launched in 2023, the Middle-Income Downpayment Assistance Program has helped over 800 first-time homebuyers with $40 million in support, delivered through partnerships with member financial institutions across Arizona, California and Nevada. In 2026, the program was expanded with an additional $11 million allocated to assist eligible first-time homebuyers with matching grants up to $50,000 for downpayment assistance and closing costs. The program shows how targeted grant assistance can help bridge the affordability gap for middle-income households. By offering these critical funds, the program strengthens community ties, supports financial stability, and expands access to the long-term wealth-building power of homeownership.

John’s story is one among many and represents exactly why the program exists: to ensure that hardworking people have a fair chance to build the future they envision.

Learn more about the Middle-Income Downpayment Assistance Program and other mission-driven community programs at FHLBSF.com.