Down Payment Assistance
Workforce Initiative Subsidy for Homeownership (WISH)
Federal Home Loan Bank (FHLB) of San Francisco’s WISH (Workforce Initiative Subsidy for Homeownership) Program offers first-time homebuyers down payment assistance in the form of a matching grant of up to $22,000 ($4 for every $1 the homebuyer puts in) toward the purchase of a home.
NAAC, as an FHLB partner, accepts and processes grant applications subject to set eligibility criteria and fund availability.
Program Highlights
01
Up to $22,000 in down payment or closing costs assistance
02
Fully forgiven after five (5) years of owner occupancy of home
03
Housing expense ratio must not exceed 35% of gross household income
04
No payments due
05
Funds are awarded as a 4 to 1 match ($5,500 maximum contribution from buyer)
06
Funds available on a first-come, first-served basis, with a fully executed purchase contract

Eligibility Requirements
Borrower must be a first-time homebuyer
Must qualify for a first mortgage with an NAAC-approved lender
Borrower must occupy the property as primary residence
Single-family detached homes, condominiums, and town homes are eligible
Family must not exceed 80% of the HUD Income Limits for the area
— Household Income Limits
