Travis Credit Union has joined the Federal Home Loan Bank of San Francisco’s 2024 Workforce Initiative Subsidy for Homeownership program (WISH) that will match down-payment grants for residents in 12 Northern California counties, including Solano, Sonoma and Napa, the Vacaville-based credit union announced April 22.
Travis Credit Union will reserve funds to assist eligible low- to moderate-income first-time homebuyers with up to the annual maximum FHFA subsidy limit. The limit this year is $30,806 in down-payment assistance until the $13 million in WISH program funds are exhausted, according to the credit union’s news release.
The WISH grants are available on a first-come, first-served basis, and are intended for families and individuals who are ready to make the transition from renting to owning. The grants can be paired with local, state and federal mortgage loan programs, such as Fannie Mae HomeReady and Federal Housing Administration-insured mortgages, according to the announcement.
Reva Rao, chief lending officer for Travis Credit Union, stated in the release that being part of the San Francisco bank’s WISH program “enables local residents the ability to access funds for a down payment, helping making homeownership more affordable for first-time homebuyers.”
Travis Credit Union is also making WISH grants available to first-time homeowners in Alameda, Colusa, Contra Costa, Merced, Placer, Sacramento, San Joaquin, Stanislaus, and Yolo counties.
Potential homebuyers interested in the program can contact Travis Credit Union at (888) 698-0000.
