FHLBank San Francisco provides $11 million funding to WISH program

The Federal Home Loan Bank (FHLBank) of San Francisco is helping first-time homebuyers turn homeownership into a reality, funding an additional $11.1 million to the WISH grant program through its 42-member financial institutions across Arizona, California and Nevada.

The WISH program provides eligible low- to moderate-income households 4-to-1 matching grants of up to $22,000. The grant can be used for down payments and closing costs in purchasing a home, which are often the most common significant barriers to homeownership. Specifically, the grants are targeted at working families and individuals who are ready to transition from renting to owning.

“Homeownership remains the primary way families can build wealth in America, meaning these grants do more than just provide a roof for a family,” Teresa Bazemore, president and chief executive officer of FHLBank San Francisco, said in a media release. “WISH grants not only help make the American dream of homeownership achievable, but they also contribute to economic advancement for both underserved communities and future generations.”