FHLBank San Francisco CoSponsors Home Ownership Fair Presented by Korean Churches for Community Development



FHLBank San Francisco Co-Sponsors Home Ownership Fair Presented by Korean Churches for Community Development   

FHLBank San Francisco Co-Sponsors Home Ownership Fair Presented by Korean Churches for Community Development

Event will help increase home ownership wWithin L.A.'s Korean community.

Los Angeles -- The Federal Home Loan Bank of San Francisco (FHLBank San Francisco) is a proud co-sponsor of the 7th annual Home Ownership Fair presented by Korean Churches for Community Development.

"We are pleased to participate in this annual event, which provides community residents with information about how they can achieve the American Dream of homeownership," says Dwight Alexander, Vice President Legislative and Regulatory Affairs the Federal Home Loan Bank of San Francisco. "It is especially important that we reach out to groups, such as the Korean community, to ensure that consumers have the information they need to become homeowners."

Mr. Alexander noted that FHLBank San Francisco, working through its member institutions, is a major source of mortgage funds in its three-state region of California, Arizona, and Nevada. Three members of the FHLBank San Francisco--Washington Mutual, Citibank, and Downey Savings--have joined with other organizations to participate in the homebuyer fair to be held Saturday, July 28, from 9 a.m. to 2 p.m. at Wilshire United Methodist Church, 4350 Wilshire Blvd., Los Angeles.

"Our member institutions are committed to helping consumers find the mortgage loans that are right for their families." Mr. Alexander said. "Because our members hold loans in portfolio rather than selling them all into the secondary market, they have greater underwriting flexibility and are in a better position to originate loans that fit the needs of low-income, female-headed households and self-employed families. They have the flexibility that is often needed to give families a mortgage they can afford."

Mr. Alexander noted that members of the Korean community can take advantage of a number of different mortgage programs designed to assist first-time homebuyers. The FHLBank of San Francisco offers several programs, exclusively through its member financial institutions, that provide grants and loans for low- to moderate-income households. Two of the these programs, the Individual Development and Empowerment Account (IDEA) Program and the Workforce Initiative Subsidy for Homeownership (WISH) Program, provide matching grants of up to $15,000 to eligible perspective households. Homebuyers can identify Bank members that are participating in the programs by visiting the Bank's website at



FHLBank San Francisco CoSponsors Home Ownership Fair Presented by Korean Churches for Community Development