Community Homeownership Initiative

Sacramento Housing and Redevelopment Agency has launched a comprehensive program designed to raise awareness and dispel the myths of purchasing a home in the Greater Sacramento Region. The Community Homeownership Initiative program is a partnership effort consisting of the Sacramento Housing and Redevelopment Agency, Federal Home Loan Bank of San Francisco, Sacramento Realtist Association, and MUFG Union Bank. While this initiative is open to anyone, this effort provides expanded outreach to increase the homeownership rate in the Greater Sacramento Region for African American prospective home buyers.

SHRA is working with Union Bank which will offer mortgages and grants to buyers in targeted areas. The Realtists are providing online information and homebuyer workshops required to receive a certificate to access downpayment and closing cost assistance. They are also assisting perspective buyers locate homes. Through its WISH Program, FHLBank San Francisco, in partnership with its member Union Bank, will provide grants of up to $22,000 for downpayment and closing costs to qualified applicants earning up to 80% of AMI (about $69,000 for a family of four).

This initiative consists of comprehensive Home Buyer Education & Counseling, Financial Literacy, First-Time Home Buyer Workshops, and Flexible Mortgage Products/Programs for neighborhoods in Greater Sacramento.

Sacramento Community Homeownership initiative Programs and Products:

  • Downpayment Assistance & Closing Costs Assistance Programs
  • Workforce Initiative Subsidy for Homeownership (WISH) – FHLBank San Francisco
  • Individual Development and Empowerment Account (IDEA) – FHLBank San Francisco
  • Community Home Buyer Mortgage Products
  • FHA/VA Mortgage Products
  • Flexible Underwriting
  • MUFG Union Bank Home Buyer Grant

For more information visit or call 916-870-4765

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