NeighborhoodLIFT program will offer homebuyer education plus
$7,500 down payment assistance grants available for eligible
homebuyers in all 82 Mississippi counties; special parameters for
veterans, military, teachers, and first responders
Wells Fargo & Company (NYSE:WFC), NeighborWorks® America and
its network member, Hope Enterprise Corporation (HOPE), today
announced the NeighborhoodLIFT® program will launch for all 82
counties in the state of Mississippi with a $2.75 million
commitment by Wells Fargo to boost homeownership.
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the full release here:
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Governor Phil Bryant today joined Wells
Fargo, NeighborWorks® America, and Hope Enterprise Corporation to
announce the NeighborhoodLIFT® program for the state of Mississippi
that will offer homebuyer education and down payment assistance
grants as a result of a $2.75 million commitment by Wells Fargo.
NeighborhoodLIFT for Mississippi is the 64th LIFT program launch
that has created more than 18,600 homeowners since 2012
representing lower- and moderate-income households. (Graphic:
Business Wire)
“This commitment by Wells Fargo to expand NeighborhoodLIFT to
the state of Mississippi will make a meaningful difference for many
families,” said Mississippi Gov. Phil Bryant. “More Mississippians
will live the American dream of homeownership through this program,
and I am thankful to Wells Fargo, NeighborWorks and HOPE for
working together to expand it in our state.”
The 2018 Mississippi NeighborhoodLIFT program follows statewide
programs in New Mexico, South Dakota and Idaho. Overall, Wells
Fargo has conducted 63 LIFT program events in the U.S. since 2012
that have created nearly 18,600 homeowners.
Grants available for reservation starting Oct. 29
The Wells Fargo Mississippi NeighborhoodLIFT program will begin
offering $7,500 down payment assistance grants on Monday, Oct. 29,
to eligible homebuyers. To learn more about the eligibility
requirements, visit www.wellsfargo.com/lift or call 866-858-2151.
Participating homebuyers can obtain mortgage financing from any
participating lender, and HOPE will determine eligibility and
administer the down payment assistance grants.
“The NeighborhoodLIFT program is another example of our
commitment to Mississippi and our efforts to build better
communities through sustainable homeownership,” said Chris Tracy,
Wells Fargo Mississippi and Alabama Coast Region Bank President.
“The program will help hardworking families and individuals get on
the path to achieve successful and sustainable homeownership.”
To be eligible, annual incomes must not exceed 80 percent of the
local area median income in the county where the home is being
purchased. In addition, there are special parameters for veterans
and service members, teachers, law enforcement officers,
firefighters and emergency medical technicians who may reserve
$10,000 down payment assistance grants within eligibility
requirements including earning up to 100 percent of the area median
income.
“This innovative public-private collaboration will create about
265 more homeowners in Mississippi,” said Donald Phoenix, regional
vice president, Southern region, NeighborWorks America. “The
required homebuyer education classes provided by certified
professionals better prepare NeighborhoodLIFT homebuyers to achieve
their goal of sustainable homeownership.”
Approved homebuyers must be approved for home financing with an
eligible lender and be in contract to purchase a home in
Mississippi. To reserve the full grant amount, participants buying
a primary residence with the NeighborhoodLIFT program must commit
to live in the home for five years.
“The NeighborhoodLIFT program will provide homebuyer education
and down payment assistance to help families achieve the dream of
homeownership,” said Bill Bynum, chief executive officer of Hope
Enterprise Corporation. “We are excited to team up with Wells Fargo
and NeighborWorks America to make this opportunity available for so
many deserving families.”
Since February 2012, LIFT programs have helped create more than
18,600 homeowners in 63 communities. A video about the
NeighborhoodLIFT program is posted on Wells Fargo Stories.
About Hope Enterprise Corporation and NeighborWorks
America
Hope Enterprise Corporation, one of the nation’s leading
community development financial institutions, is a chartered member
of NeighborWorks America, a national organization that creates
opportunities for people to live in affordable homes, improve their
lives and strengthen their communities. NeighborWorks America
supports a network of more than 245 nonprofits, located in every
state, the District of Columbia and Puerto Rico. Visit
https://hopecu.org, or http://www.neighborworks.org/ to learn
more.
About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a diversified,
community-based financial services company with $1.9 trillion in
assets. Wells Fargo’s vision is to satisfy our customers’ financial
needs and help them succeed financially. Founded in 1852 and
headquartered in San Francisco, Wells Fargo provides banking,
investment and mortgage products and services, as well as consumer
and commercial finance, through 7,950 locations, 13,000 ATMs, the
internet (wellsfargo.com) and mobile banking, and has offices in 37
countries and territories to support customers who conduct business
in the global economy. With approximately 262,000 team members,
Wells Fargo serves one in three households in the United States.
Wells Fargo & Company was ranked No. 26 on Fortune’s 2018
rankings of America’s largest corporations. News, insights and
perspectives from Wells Fargo are also available at Wells Fargo
Stories.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20181019005033/en/
Jamee Nelson,
404-877-6934Jamee.Nelson@wellsfargo.com@JLawsonWForChris Hammond,
415-310-9152Chris.L.Hammond@wellsfargo.com@ChrisHammondWF
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