Tempe, Ariz. (PRWEB) April 18, 2016
In keeping with the tradition of “people helping people,” TruWest® Credit Union is offering down payment assistance for low-to-middle income first-time homebuyers. TruWest received an additional $500,000 to support the “Workforce Initiative Subsidy for Homeownership (WISH)” grant program, through the Federal Home Loan Bank of San Francisco. 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.
Through the WISH program, TruWest 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-serve 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,” says Lance Levin, Vice President of Mortgages. “This really highlights the TruWest Credit Union mission of providing solutions to help people achieve their financial goals.”
Since 2013, TruWest has contributed $716,604 in down payment assistance, helping 48 families’ dreams of home ownership come true. TruWest Credit Union is one of only a handful of financial institutions in Arizona and the only financial institution in Texas to participate in the WISH program.
To be eligible for the WISH program, some restrictions apply for buyers, such as individuals must be first-time homebuyers and meet certain income qualifications. Click here to learn more about the WISH Program.
About TruWest Credit Union
TruWest Credit Union is headquartered in Tempe, Ariz., and operates as a cooperative to provide its membership with a lifetime of quality financial services and a culture of caring for its members, employees and communities. TruWest is a strong and sound financial institution with more than 75,000 members and assets totaling more than $912 million. TruWest Credit Union has 12 branches—eight in the metro Phoenix area and four in Austin, Texas. For more information, visit truwest.org.
About Federal Home Loan Bank of San Francisco
The Federal Home Loan Bank of San Francisco delivers low-cost funding and other services that help member financial institutions make home mortgage loans to people of all income levels and provide credit that supports neighborhoods and communities. The bank also funds community programs that help members create affordable housing and promote community economic development. The bank’s members are headquartered in Arizona, California and Nevada, and include commercial banks, credit unions, industrial loan companies, savings institutions, insurance companies and community development financial institutions.