WISH Program for First-Time Homebuyers

Homeownership continues to be a big part of the American dream. For low- to moderate-income individuals and families, the journey to becoming a homebuyer takes an extraordinary amount of hard work, thrift, and determination. Our Workforce Initiative Subsidy for Homeownership (WISH) Program can help aspiring homeowners overcome one of the biggest barriers to achieving their dream and building wealth — coming up with sufficient funds for downpayment and closing costs.

Our WISH Program provides 4-to-1 matching grants of up to the annual maximum amount set by the Federal Housing Finance Agency, currently $32,099, delivered by our member financial institutions directly to eligible low- and moderate-income homebuyers. The WISH Program is an opportunity for participating members to support affordable, sustainable homeownership for first-time homebuyers while achieving their own community investment goals.

Funding for the WISH Program is set aside each year from the Bank's annual AHP contribution. WISH Program grants may be applied to downpayment and closing costs, and can complement or supplement many local, state, and federal homeownership programs and initiatives.

To be eligible for WISH Program funds, the homebuyer receiving a grant from a participating member financial institution must:

• have successfully completed a homebuyer counseling program

• be a first-time homebuyer, as defined by the Bank in its AHP Implementation Plan

• meet income eligibility guidelines, as published by the Bank at the time of enrollment in the WISH Program and be at or below 80% of the HUD area median income

• contribute to the home purchase through savings, gift funds, or sweat equity to obtain the matching grant; contribution may also include Individual Development Accounts (IDA) and Family Self Sufficiency (FSS) program savings

• purchase a WISH eligible property, which may include (1) single-family homes, such as a condominium, cooperative housing, and manufactured homes, and (2) housing with two to four dwelling units with at least one owner-occupied unit

• open escrow on a home purchase transaction within one year of enrollment in the WISH Program

Individuals interested in the matching grant funds available through the WISH Program should contact currently participating members or visit Resources for First-Time Homebuyers for general information about homeownership assistance programs and resources.

WISH Communications Resources

For members planning to promote their participation in the 2025 WISH Program with a news release or on social media, a communications toolkit is available (also downloadable in Word). This includes a news release template, key messages, guidance around FHLBank San Francisco's naming convention and logo usage, and more.

The FHLBank San Francisco’s communications team would be happy to review your content, provide descriptive language about the WISH Program, share a quote from the Bank, and amplify your social media posts. Please contact Chris Hammond, Associate Director, Corporate Communications for assistance with your promotional efforts.