Santa Barbara, CA – April 25, 2025 – American Riviera Bank is participating in the Federal Home Loan Bank of San Francisco (FHLBank San Francisco) Workforce Initiative Subsidy for Homeownership (WISH) matching downpayment grant program to help more central coast residents achieve the dream of homeownership. Through this annual grant program, American Riviera Bank will deliver down payment assistance grants to assist eligible low- to moderate-income first-time homebuyers in Santa Barbara and San Luis Obispo Counties with up to the annual maximum FHFA subsidy limit, which is $32,099 in 2025. Funds will be available until the $12 million in WISH program funds are exhausted.
FHLBank San Francisco’s WISH grant program was created to help families and individuals overcome the most significant barriers to homeownership and build wealth.
"We are committed to providing flexible solutions to address pressing housing needs for our local workforce, the backbone of our economy. As a member of the Federal Home Loan Bank of San Francisco, we are proud to leverage programs such as WISH to improve housing accessibility on the Central Coast of California."
Laurel Sykes, Executive Vice President and Chief Risk Officer for American Riviera Bank
FHLBank San Francisco’s WISH program offers eligible low- to moderate-income households 4-to-1 matching grants of up to the annual maximum FHFA subsidy limit, which is $32,099 in 2025, that can be applied to downpayment and closing costs for the purchase of a first home. The grants, available on a first-come, first-served basis, are intended for families and individuals who are ready to make the transition from renting to owning, and the grants can be paired with local, state, and federal homeownership programs and initiatives.
To be eligible for WISH Program funds, the homebuyer must:
“Working with our members, including American Riviera Bank, our WISH grants help put homeownership within reach for more hard-working families,” said Eric Cicourel, community investment officer with FHLBank San Francisco. “Homeownership is a key pathway for families to open doors to building wealth, but as home prices continue to increase and affordable inventory remains tight, far too many low- and middle-income families and individuals are simply unable to come up with sufficient funds for downpayment and closing costs to own a home of their own.”
Potential homebuyers interested in this program should contact American Riviera Bank or click here to connect with our experts.
About American Riviera Bank
American Riviera Bancorp (OTCQX: ARBV) is a registered bank holding company headquartered in Santa Barbara, California. American Riviera Bank, the 100% owned subsidiary of American Riviera Bancorp, is a full-service community bank focused on serving the lending and deposit needs of businesses and consumers on the Central Coast of California. The state-chartered bank opened for business on July 18, 2006, with the support of local shareholders. Full-service branches are located in Santa Barbara, Montecito, Goleta, Santa Maria, San Luis Obispo, Atascadero, and Paso Robles. The Bank provides commercial business, commercial real estate, residential mortgage, construction, and Small Business Administration lending services as well as convenient online and mobile technology. The Bank maintains a “5 Star - Superior” rating from Bauer Financial and for fourteen consecutive years, has been recognized for strong financial performance by the Findley Reports. The Bank was rated “Outstanding” by the Federal Deposit Insurance Corporation in 2023 for its performance under the Community Reinvestment Act. The Company was named to the “OTCQX Best 50” list for equal weighted share trading volume and total return in 2024.
About the Federal Home Loan Bank of San Francisco
The Federal Home Loan Bank of San Francisco is a member-driven cooperative helping local lenders in Arizona, California, and Nevada build strong communities, create opportunity, and change lives for the better. The tools and resources we provide to our member financial institutions — commercial banks, credit unions, industrial loan companies, savings institutions, insurance companies, and community development financial institutions — propel homeownership, finance quality affordable housing, drive economic vitality, and revitalize whole neighborhoods. Together with our members and other partners, we are making the communities we serve more vibrant and resilient.
