Altura Credit Union has secured a $40,000 down payment assistance grant for Joshua Reeves, a first-time homebuyer and Altura member, the credit union announced Oct. 21.
The grant came through the Federal Home Loan Bank of San Francisco’s Middle-Income Downpayment Assistance (MDPA) Program. The program was created to support middle-income households squeezed by rising home prices and interest rates, including many essential workers who earn too much to qualify for traditional assistance but still struggle to save enough for a down payment.
The MDPA Program provides matching grants of up to $40,000 to help eligible middle-income, first-time homebuyers cover down payment and closing costs. Grants are available only through Federal Home Loan Bank of San Francisco member institutions, including Altura, which apply on behalf of qualifying homebuyers…