FHLBank San Francisco Affordable Housing Program (AHP) Set-Aside

FHLBank San Francisco Affordable Housing Program (AHP) Set-Aside is a grant for homebuyers in California. AHP Set-Aside grants up to $40,000 per household for eligible low-income first-time homebuyers. Distributed through FHLBank SF member financial institutions operating in CA, AZ, and NV. Funds for down payment and closing costs. Up to $40,000 in assistance. non-repayable grant. Funding comes from Federal Home Loan Bank.

FHLBank San Francisco Affordable Housing Program (AHP) Set-Aside is structured as a grant, so it is not repaid. Repayment is triggered by Retention agreement and repayable if sold before retention period ends. The assistance is recorded in N/A (grant - no lien) position. Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

FHLBank San Francisco Affordable Housing Program (AHP) Set-Aside is open to first-time homebuyers and homebuyers who will live in the home as their primary residence. "First-time homebuyer" usually means not having owned a home in the last three years, but the program sets its own definition. On credit, the program states: Contact lender for current credit score requirements. A homebuyer education course is required. Residency requirement: Primary residence. Citizenship or immigration status: U.S. citizen, permanent resident alien, or other eligible non-citizen. Up to $40,000. Annual competitive allocation. Must use FHLBank SF member institution as lender.

FHLBank San Francisco Affordable Housing Program (AHP) Set-Aside limits household income to 80% of the area median income, which varies by county and household size. Low income: household income ≤80% of Area Median Income (AMI). The limit applies to total household income, not only the borrower’s. The program lists a maximum household size of 8. Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

FHLBank San Francisco Affordable Housing Program (AHP) Set-Aside caps the purchase price as follows: Contact program for current purchase price limits. Eligible property types include Single-family (1-4 unit), FHA-approved condominium, townhome/PUD. New construction is eligible. Manufactured homes are not eligible.

FHLBank San Francisco Affordable Housing Program (AHP) Set-Aside serves homebuyers purchasing anywhere in California.

Applications for FHLBank San Francisco Affordable Housing Program (AHP) Set-Aside go through the administering agency, which publishes the current terms and the application steps on its own site. Funds are reserved through Contact provider directly; subject to funding availability. Hey Prescott is not a lender and does not accept applications; this page describes the program so a homebuyer can take it to a lender or housing counselor.