Lending Programs

We make a significant impact in the communities we serve with our affordable home loan programs.


The Grow loan program makes purchasing or refinancing a home affordable. Available for first time home purchase and rate & term refinance of owner-occupied single-family residences/condos and 1 - 2 unit properties. Program details include:

  • Competitive fixed rate
  • As little as 5% equity on refinance transactions
  • No mortgage insurance requirement
  • Prior to closing on a first-time purchase, borrower must attend a homebuyer or landlord education session conducted by a HUD-approved counseling agency
  • Maximum loan amount of up to $726,200 for single unit and $929,850 for two-unit properties
  • Property must be located in a low or moderate-income census tract (designated by the FFIEC.gov website)
    or borrower(s) annual income must less than 120% of the Area Median Income
  • Eligible properties must be located in specific California or Washington counties* 

When applying for a Grow loan for first time home purchase, borrowers may also take advantage of the Daisy
program which can reduce out of pocket closing costs and down payment to less than 1% of purchase price.

*California: Alameda, Contra Costa, Los Angeles, Marin, Orange, San Francisco, San Mateo, Santa Clara, Sonoma;
Washington: King, Pierce, Snohomish

1024 Daisy Yellow Transparent


Designed to provide down payment and closing cost assistance exclusively to Grow program borrowers, Daisy is a forgivable second trust deed loan. Program highlights follow:

  • No payment required, balance of note is forgiven after 36 months
  • Maximum loan amount of $14,973 for single unit and $19,172 for two-unit properties


The Workforce Initiative Subsidy for Homeownership (WISH) program provides grants to qualified first time homebuyers. WISH funds may be used toward down payment or reasonable and customary closing costs:

  • Grants up to $29,172 — matching $4 for each $1 contributed by the borrower
  • Borrower must successfully complete a HUD approved homebuyer counseling program
  • Borrower's income must not exceed 80% of the HUD area median income, adjusted for household size
  • Housing must be used as the primary residence of the homebuyer

For more information on how we can help you purchase or refinance your home, call us today at 855.903.2479

Financing subject to credit and collateral approval by Luther Burbank Savings. Loan programs subject to change without notice. NMLSR# 449241