Middle-Income Downpayment Assistance Grants

This program is designed to help put sustainable homeownership within reach for more families and individuals — including many who are among the most essential members of our community, like teachers, police officers, firefighters, and administrative and other service workers.

To be eligible for Middle-Income Downpayment Assistance grant funds, the homebuyer must:

• Be a first-time homebuyer, as defined by the U.S. Department of Housing and Urban Development (HUD);
• Income eligibility requires the homebuyer household to have earnings between 80.01% and 140% of the HUD Defined AMI based on the purchase property address and adjusted for household size;
• Successfully complete a homebuyer counseling program;
• Purchase an eligible property as their primary residence in Arizona, California, or Nevada. Such property 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, with closing scheduled within 30 days prior to the Bank member requesting program funds; and
• Make a minimum contribution of $10,000, which may come from savings or gifted funds.

More information on this grant program can be found on the Federal Home Loan Bank of San Francisco’s website. If you’d like to learn more about Middle-Income Downpayment Assistance grants or other down payment assistance programs, contact us and our lending professionals will be happy to discuss your options!