Eligible homebuyers can make an appointment now
to apply for a $15,000 down payment assistance grant on Sept.
8-9
Wells Fargo & Company (NYSE:WFC), NeighborWorks® America and
its network member Community Resources and Housing Development
Corporation (CRHDC) today announced the NeighborhoodLIFT® program
is coming to the Denver-Aurora area with a $4.8 million commitment
by Wells Fargo to boost homeownership.
“Affordable housing is the foundation to building a strong and
healthy Denver,” said Denver Mayor Michael B. Hancock. “For our
families, veterans, teachers, first responders and others working
to own a home, this program can be a catalyst for achieving this
dream.”
This will be Wells Fargo’s 53rd LIFT program event in the United
States and follows the successful 2014 Denver area NeighborhoodLIFT
program that created 252 homeowners.
“Homeownership is a cornerstone of economic vitality for
families in Aurora, and we are so pleased to be able to partner
with Wells Fargo in providing new opportunities to first time
homebuyers,” said Aurora Mayor Steve Hogan.
Interested homebuyers can attend the free event on Sept. 8-9,
when eligibility will be determined for an opportunity to reserve a
$15,000 down payment assistance grant.
Registration for the NeighborhoodLIFT
event on Sept. 8-9
The Wells Fargo NeighborhoodLIFT program will begin with a free
event Sept. 8-9 from 10 a.m. to 7 p.m. at the Marriot Tech Center,
located at 4900 S Syracuse St., Denver. To learn more about the
eligibility requirements and to register, visit
NeighborhoodLIFT.com or call (866) 858-2151. Pre-registration is
strongly recommended for an opportunity to reserve a matching down
payment assistance grant.
“The NeighborhoodLIFT program is another example of our
commitment to the greater Denver-Aurora area and our efforts to
building better communities through sustainable homeownership,”
said John Sotoodeh, Wells Fargo regional president. “In addition to
being tailored for average- and lower-income homebuyers, we
enhanced the program for veterans, military servicemembers,
teachers, law enforcement officers, fire fighters and emergency
medical technicians in honor of the services they provide to the
community.”
To be eligible, annual incomes must not exceed 80 percent of the
local area median income, which in Denver-Aurora is about $67,100
for an individual homebuyer with a family of up to four members
(and about $72,500 for a family with five members). Income maximums
may vary depending on family size and type of loan.
Veterans and servicemembers, teachers, law enforcement officers,
firefighters and emergency medical technicians may earn up to 100
percent of the area median income, which in Denver-Aurora is about
$83,900 for up a family of four and $90,650 for a family of
five.
Approved homebuyers will have up to 60 days to finalize a
contract to purchase a home in the Denver-Aurora area to receive a
grant. Participating communities include Denver, Adams, Arapahoe,
Douglas and Jefferson Counties. 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.
“This innovative public-private collaboration will create
more than 240 homeowners,” said Gary Wolfe, regional vice
president, Western region, NeighborWorks America. “The required
homebuyer education classes provided by certified professionals
better prepare NeighborhoodLIFT homebuyers to achieve their goal of
sustainable homeownership.”
Participating homebuyers can obtain mortgage financing from any
qualified lender, and CRHDC will determine eligibility and
administer the down payment assistance grants.
“We are ready to equip more Denver-Aurora families with
education and down payment assistance grants through the Wells
Fargo NeighborhoodLIFT program to help them achieve sustainable
homeownership,” said Al Gold, executive director of CRHDC. “Wells
Fargo’s homeownership investment will provide a stabilizing effect
that will help make Denver-Aurora area communities stronger.”
Since February 2012, LIFT programs have helped create more than
14,200 homeowners in 52 communities. A video about the
NeighborhoodLIFT program is posted on Wells Fargo Stories.
About Community Resources and Housing Development Corporation
and NeighborWorks America
Community Resources and Housing Development Corporation 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 240 nonprofits, located in
every state, the District of Columbia and Puerto Rico. Visit
http://www.crhdc.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,
insurance, investments, mortgage, and consumer and commercial
finance through more than 8,500 locations, 13,000 ATMs, the
internet (wellsfargo.com) and mobile banking, and has offices in 42
countries and territories to support customers who conduct business
in the global economy. With approximately 271,000 team members,
Wells Fargo serves one in three households in the United States.
Wells Fargo & Company was ranked No. 25 on Fortune’s 2017
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: http://www.businesswire.com/news/home/20170817005927/en/
MediaJulie Fogerson,
208-393-2255Julie.M.Fogerson@WellsFargo.comorAlfredo Padilla,
213-369-6122Alfredo.Padilla@WellsFargo.com
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