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Travis Credit Union partners with FHLBank San Francisco for first-time homebuyer matching grant program provides $13 million in down payment assistance

VACAVILLE, CA (April 22, 2024) — Travis Credit Union has joined the Federal Home Loan Bank of San Francisco (FHLBank San Francisco) 2024 WISH Program that will matching down payment grants available to help residents in 12 Northern California counties achieve the dream of homeownership.

Through the annual grant program, Travis Credit Union will reserve funds to assist eligible low- to moderate-income first-time homebuyers in Alameda, Colusa, Contra Costa, Merced, Napa, Placer, Sacramento, San Joaquin, Solano, Sonoma, Stanislaus, and Yolo counties with up to the annual maximum FHFA subsidy limit, which is $30,806 in 2024 in down payment assistance until the $13 million in WISH program funds are exhausted.

 “Being a part of FHLBank’s WISH program demonstrates our commitment to strengthening and investing in our communities through homeownership,” said Reva Rao, chief lending officer for Travis Credit Union. “It enables local residents the ability to access funds for a down payment, helping making homeownership more affordable for first time home buyers.”

The grants, available on a first-come, first-served basis, are intended for families and individuals who are ready to make the transition from renting to owning, and the grants can be paired with local, state, and federal mortgage loan programs, such as Fannie Mae HomeReady and Federal Housing Administration–insured mortgages.

“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,” said Eric Cicourel, community investment officer with FHLBank San Francisco. “Working with our members, including Travis 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.”

Potential homebuyers interested in this program should contact Travis Credit Union at (888) 698-0000.


About Travis Credit Union

Travis Credit Union, based in Vacaville, Calif., has been recognized at the federal, state and local levels for its longstanding financial education and financial advocacy efforts. In 2022, TCU was once again selected as a Best-In-State Credit Union by Forbes. It has also earned the U.S. Air Force Distinguished Credit Union of the Year award in recent years. Founded in 1951 on Travis Air Force Base, TCU today serves 12 Northern California counties. It is the twelfth largest credit union in California, with 250,000 members and $5 billion in assets. Learn more about our mission at traviscu.org.

About the Federal Home Loan Bank of San Francisco

The Federal Home Loan Bank of San Francisco is a member-driven cooperative helping local lenders in Arizona, California, and Nevada build strong communities, create opportunity, and change lives for the better. The tools and resources we provide to our member financial institutions — commercial banks, credit unions, industrial loan companies, savings institutions, insurance companies, and community development financial institutions — propel homeownership, finance quality affordable housing, drive economic vitality, and revitalize whole neighborhoods. Together with our members and other partners, we are making the communities we serve more vibrant, equitable, and resilient.

Contacts

 blake@amfmediagroup.com

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