The Workforce Initiative Subsidy for Homeownership (WISH) Program

Learn More - http://www.fhlbsf.com/ci/grant/wish/default.asp
The Workforce Initiative Subsidy for Homeownership (WISH) Program provides matching grants to qualified first-time homebuyers:
o The household income of the homebuyer at the time of enrollment in the WISH program is 80% or less of the HUD area median income.
o Participants must complete a homebuyer counseling program.
o The WISH Program can complement or supplement a variety of state, local, and federal homeownership programs, including CalHFA, NSP, and FHA programs.

For Consumers, Learn More: http://www.fhlbsf.com/ci/other/consumerinfo.asp

MORE HIGHLIGHTS:

? First time buyer is defined as: Not having owned a primary residence in the past 3 years
? Funds from WISH may be used for either down payment or closing costs
? 3:1 Match on homebuyer contributions
? ?Maximum contribution: $15,000
Example: Buyer contributes $3,000 to transaction, WISH will contribute $9,000 to use towards down payment or closing costs.
MAX housing expense ratio CANNOT exceed 35%.
? Non Occupant co-signer income CAN be used in ratio
? WISH can be used with 3/1 and 5/1 ARM

- 640 Minimum FICO Score
- FULL Doc
- No BK, Shortsale, Forclosure in the last 3 Years
- Gift Funds Allowed
- Seller Paid Down Payment Consessions Allowed