NPHS through the Workforce Initiative Subsidy for Homeownership (W.I.S.H.) program, offers up to $15,000 for each eligible household to be used towards down payment for the purchase of a home within the Inland Valley. The program is intended for lower income (80% AMI and below) first time home buyers who can afford monthly mortgage payments but do not have quite enough saved to pay the initial home purchase down payment and non-reoccurring closing costs. The goal of the program is to increase homeownership in the Inland Valley.
The W.I.S.H. Down Payment Assistance Loan is unique in that it is fully forgiven after a 5 year period. The amount owed will decrease by 20% for each of the 5 years the borrower retains homeownership of the home as their primary residence. Funds are available on a 3-to-1 matching format in which the borrower can come in with a maximum of $5,000 in order to receive the maximum loan amount of $15,000. Funds are available on a first come, first served basis with a fully executed and purchase contract.
In order to effectively determine your eligibility, please complete this application as thoroughly and accurately as possible. Please note that you must use an NPHS Approved Lender and submit a completed application for the W.I.S.H. Down Payment Assistance Loan. The application, along with all required documents, must be submitted a minimum of 4 weeks prior to any loan commitments or closing dates. When you are qualified you will be issued a letter of preapproval that will remain valid for 90 days.
The W.I.S.H. Down Payment Assistance Loan applications are available online at www.nphsinc.org. If you have questions regarding the application process, please contact one of our Homeownership Specialist at (909) 988-5979.
All packets and supporting documentation should be sent to Curtis@nphsinc.org. Please contact NPHS for more information at (909) 988-5979.
Attention Lenders and Agents:
When submitting a packet or inquiring about the program please e-mail us, as that is the best and fastest way. The timeline for the pre-qualification is five (5) days once we have a complete file. Times will increase if paperwork is not received and thus the time has stopped.