SCOTTSDALE, Ariz.–TruWest Credit Union said it has received an additional $500,000 from The Federal Home Loan Bank of San Francisco to support its “Workforce Initiative Subsidy for Homeownership” (WISH) program.
That program provides down payment assistance for low-to-middle-income, first-time homebuyers. The funds will assist TruWest members in Arizona and Texas who qualify for the program, and open escrow on a home purchase between April 1, 2016 and March 31, 2017.
According to TruWest, as part of the WISH program it will contribute $3 for every $1 the eligible homebuyer allocates toward his or her down payment, up to $15,000. Funds are available on a first-come, first-served basis through March 31, 2017, or until the funds have been distributed.
“With the WISH Program, we will help make home ownership a reality for at least 33 families this year alone,” said Lance Levin, vice president of mortgages, in a released statement. “This really highlights the TruWest Credit Union mission of providing solutions to help people achieve their financial goals.”
Since 2013, TruWest said it has contributed $716,604 in down payment assistance, helping 48 families’ dreams of home ownership come true.