The WISH Grant is a down payment assistance program that provides matching funds to eligible first-time homebuyers.
PHOENIX (June 2, 2023) — To make home ownership a reality for more homebuyers, OneAZ Credit Union is offering down payment assistance to eligible first-time homebuyers through the WISH (Workforce Initiative Subsidy for Homeownership) Grant Program. OneAZ, as a Participating Member Financial Institution, is able to access the WISH Grant Program, which is funded through the Federal Home Loan Bank (FHLBank) San Francisco. This program allows OneAZ to support access to affordable and sustainable homeownership by providing down payment assistance via matching funds to eligible first-time homebuyers.
OneAZ’s participation with the WISH Grant Program serves as part of the credit union’s Future Forward initiative to better meet the needs of low-income individuals and families in underserved Arizona communities.
WISH Program Grant Features: For every dollar an eligible first-time homebuyer saves towards their down payment, the WISH Program will match it with a grant of four dollars, up to a maximum of $29,172 that can be used for the homebuyer’s downpayment and closing costs. To be eligible for WISH down payment assistance, homebuyers must:
- Have successfully completed a homebuyer counseling program
- Be a first-time homebuyer, as defined by the FHLBank in its AHP Implementation Plan
- Meet income eligibility guidelines, as published by the FHLBank at the time of enrollment in the WISH Program and be at or below 80% of the HUD area median income
- Meet the program timing requirements for opening escrow and closing on the property.
Note: Funds are limited on this program and available on a “First Come, First Served” basis. Enrollment in the WISH Grant Program does not guarantee the homebuyer receipt of funds. Grant funds may be forgivable in certain instances to qualifying eligible individuals.
“At OneAZ, our mission is to truly improve the lives of our members, our associates and the communities we serve. We want to help all our members achieve their financial dreams. That’s why we’re offering the WISH Grant Program to make homebuying a reality no matter where you’re at financially,” said Ken Bauer, Chief Lending Officer at OneAZ Credit Union.
OneAZ is now accepting applications for the WISH Grant Program.
About OneAZ Credit Union
Serving Arizona since 1951, OneAZ Credit Union is a financial powerhouse managing over $3.4 billion in assets and serving over 200,000 member-owners and 12,000 business owners across 20 branches statewide. We are committed to inspiring dreams and driving prosperity and community growth through innovative and high-quality personal and business banking solutions. At OneAZ, it’s all about banking for the people, not for profit. Discover more at OneAZcu.com. Insured by NCUA. Join us in driving prosperity and building a brighter tomorrow for Arizona.
###
