Patelco Credit Union, FHLBank San Francisco Partner on DPA Program for First-Time Homebuyers


To help more greater Bay Area residents achieve the dream of homeownership, Patelco Credit Union is partnering with FHLBank San Francisco on a first-time homebuyer matching grant program.

The $13 million Workforce Initiative Subsidy for Homeownership (WISH) program provides downpayment assistance for first-time homebuyers

Through the annual grant program, Patelco Credit Union will reserve funds to assist eligible low- to moderate-income first-time homebuyers in the greater Bay Area with up to the annual maximum FHFA subsidy limit, which is $30,806 in 2024 in downpayment assistance until the $13 million in WISH program funds are exhausted.

“Patelco Credit Union is committed to fostering financial resilience and supporting the well-being of our members through homeownership,” says Vince Salinas, vice president of home loans, Patelco Credit Union, in a release. “By partnering with FHLBank San Francisco in the WISH program, we are empowering families in the Bay Area to overcome financial barriers and achieve their dream of owning a home.”

“Homeownership is a key pathway for families to open doors to building wealth in America, but far too many hard-working families and individuals are not able to overcome systemic barriers keeping them from owning a home of their own,” adds Eric Cicourel, a community investment officer with FHLBank San Francisco. “Working with our members, including Patelco Credit Union, our WISH grants help put the American dream of homeownership within reach for more hard-working families, enabling them to build wealth for future generations.”

Photo: David Nieto

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