Grants to aid low-income home buyers
The Federal Home Loan Bank of San Francisco is providing matching grants of about $5.5 million to help lower-income residents become homeowners in Arizona, California, Nevada and Texas.
Working through its member institutions and two housing assistance programs, the bank said Monday that funds may be used for down payment and/or closing costs. The Individual Development and Empowerment Account (IDEA) Program and the Workforce Initiative Subsidy for Homeownership (WISH) Program provide up to $15,000 per household, matching up to $3 for every dollar contributed by the residents toward the purchase of the home.
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