WISH
Discover the WISH program from Valley First
Dreaming of owning your own home? We can help make it possible for you. For households with incomes below 80% of the local median, there's up to $30,806 in housing assistance available. Let's turn your dream into a reality together.
Benefits of the WISH program
Purchase a residence in a community that resonates with your heart
Lower your down payment and monthly housing bills
Save up to $30,806
FAQs
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How do I know if I am eligible?
These are the current eligibility requirements for WISH:
- The homebuyer has successfully completed a HUD approved homebuyer counseling program.
- Must be a first-time homebuyer.
- Homebuyer must obtain his/her primary mortgage financing from Valley First Credit Union.
- Household income does not exceed 80% of the HUD Area Median Income (AMI).
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What is the HUD Area Median Income?
HUD sets AMI guidelines based on the homebuyer’s Metropolitan Statistical Area (MSA) at the time of enrollment.
Three factors determine Area Median Income (AMI):
- Household’s residence at time of enrollment (MSA).
- Number of people in the household.
- The most recent year’s income limits at enrollment.
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Are there any repayment requirements?
Repayment is not required if:
- Sale - Home is sold to income-eligible households.
- Refinance - WISH lien is subordinated.
- Sale or Refinance - Amount is $2,500 or less
- Foreclosure, DIL, Assignment to HUD, Death
Valley First Credit Union (VFCU) is a Community Development Financial Institution (CDFI) as designated by the U.S. Department of the Treasury. As an Equal Housing Lender, we do business in accordance with Federal Fair Lending Laws. All loans are subject to approval. Certain conditions & fees apply. This is not an offer to extend credit to any individual who may be entitled to a more complete disclosure per RESPA, TILA, HOEPA, or any other more applicable federal, state, or local law or regulation. Rates, terms, fees, products, programs, and equity requirements are subject to change without notice. Down payment assistance is available for qualified and eligible borrowers. Enrollment in the WISH and Middle-Income Downpayment Assistance Program does not guarantee the homebuyer's receipt of program funds. Subject to the availability of grant funding. Other criteria/requirements apply. Please feel free to see us for details.