Yolo Federal Credit Union has been awarded 2011 grant funds from the Federal Home Loan Bank to be disbursed to lower income homebuyers within Yolo County.
Over the past five years, Yolo Federal has worked closely with the cities of Woodland, Davis and West Sacramento, along with Mercy Housing and Neighborworks America to identify and assist eligible families for the grant monies.
Eligible homebuyers may apply for up to $15,000 in matching grant funds to be used for the down payment and closing costs involved with purchasing their home. Under the WISH Program, Yolo Federal will match up to $3 for every dollar contributed by the homebuyer toward a home purchase.
“Providing low- and moderate-income individuals and families the chance at realizing their dream of homeownership is a high priority for us,” said Clyde Brooker, CEO of Yolo Federal Credit Union, in a news release. “This grant program is an important tool in helping us meet this objective.”
Yolo Federal is the only Yolo County-based financial institution and one of only three credit unions in California to receive grant funds this year, the news release said.
Yolo Federal offers a variety of mortgage programs including FHA and VA financing. For more information on Yolo FCU’s mortgage or grant program, visit http://www.yolofcu.org or call (530) 668-2700.