The WISH Program: A 4-to-1 DPA Match
The WISH (Workforce Initiative Subsidy for Homeownership) program is a unique and powerful down payment assistance (DPA) grant. It's not a loan; it's a 4-to-1 matching grant that helps first-time homebuyers build their down payment much faster.
This program is a key part of our first-time home buyer strategy.
How the 4-to-1 Match Works
The WISH program matches $4 for every $1 you contribute to your home purchase. This is a true grant—it is not repaid as long as you do not sell or refinance the home within 5 years (it's forgiven on a pro-rata basis over that time).
- Your Contribution: $7,500
- WISH Grant Match (4x): $30,000
- Total Down Payment: $37,500
The maximum grant amount is typically $30,806, which requires a contribution of $7,701.50 from the homebuyer.
Who is Eligible?
The WISH program is fantastic, but its funds are limited and subject to availability. General eligibility requirements include:
- First-Time Homebuyer: Must be a first-time homebuyer (or not have owned a home in 3+ years).
- Income Limits: Your household income must be at or below 80% of the Area Median Income (AMI). This is a stricter requirement than other DPA programs.
- Homebuyer Education: You must complete a homebuyer counseling program.
- Your Own Funds: You must be able to contribute your portion of the match (e.g., $7,701.50 to get the max grant).
The Bottom Line
If you are a first-time homebuyer with a modest income, the WISH program can be life-changing. Because funds are limited and distributed by member banks, it's crucial to work with a lender who has access to this program.
WISH funds are first-come, first-served. Contact me immediately to see if funds are available and if you qualify for this incredible 4-to-1 match.
Jonathan Moses
Senior Loan Officer | NMLS #2064741
This guide was prepared by Jonathan Moses (NMLS #2064741), the senior loan officer and founder of Roadrunner AZ Lending. With years of experience in the Phoenix and Scottsdale markets, Jonathan is dedicated to providing expert, transparent advice. Learn more about Jonathan.