Newtown CDC, WISH Down Payment Assistance Program

About This Program

The Workforce Initiative Subsidy for Homeownership (WISH) program through Newtown CDC provides a 4-to-1 matching grant from the Federal Home Loan Bank of San Francisco for first-time homebuyers in Maricopa County. Save up to $7,500 and receive up to $30,000 in matching grant funds for down payment and closing costs. Must work with a Newtown Housing Counselor, complete homebuyer education, and obtain a fixed-rate mortgage from a participating lender. Funds must be repaid pro-rata if the home is sold within five years.

4:1 match: every $1 saved earns $4 in grant funds. Maximum saver contribution ~$7,500 yields up to $30,000 match. Five-year pro-rata recapture if home is sold.

Key Details

• 4:1 Federal Home Loan Bank matching grant for first-time buyers
• Save up to $7,500 → receive up to $30,000 in grant funds
• Income ≤ 78% HUD Area Median Income; Maricopa County
• Requires Newtown housing counseling and homebuyer education class
• 5-year pro-rata repayment required if home sold early

How to Apply

Deadline: Rolling, limited annual allocation