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Federal Home Loan Bank of San Francisco
Affordable Housing Program

Our Affordable Housing Program (AHP) provides grants to assist in the purchase, construction, or rehabilitation of housing for lower-income households. All grants are funded through our member financial institutions to affordable housing sponsors or developers or to homebuyers in the form of grants or below-market rate loans. Since 1990, we have awarded over $1.1 billion in AHP grants to support the development, rehabilitation, or purchase of more than 142,000 affordable homes in Arizona, California, Nevada, and other localities served by our members.

Competitive Affordable Housing Program

We allocate at least 65% of our annual AHP funds to our competitive AHP. Working in partnership with community-based housing sponsors, members submit applications for specific homeownership and rental projects and programs in our annual AHP competition. Member financial institutions often provide direct financing to the initiatives, leveraging funds provided by other public and private sources. The resulting housing initiatives are remarkable for their innovative solutions to diverse housing needs.

First-Time Homebuyer Programs

We allocate a portion of our annual AHP funds to our homeownership set-aside programs— the Individual Development and Empowerment Account (IDEA) Program and the Workforce Initiative Subsidy for Homeownership (WISH) Program. The programs provide up to $22,000 per eligible household for downpayment and closing cost assistance, matching up to $4 for every $1 contributed by the homebuyer.

Both programs award AHP dollars through member financial institutions to qualified homebuyers and require participants to complete a homebuyer counseling program. The IDEA Program assists homebuyers who have saved under an Individual Development Account (IDA) or are participating in a Family Self-Sufficiency or lease-to-own program leading to homeownership. The WISH Program helps working households that are ready to make the transition from renting to owning.


Updated: June 2019