Mayor Bottoms joins Wells Fargo to announce NeighborhoodLIFT
program will offer homebuyer education plus $15,000 down payment
assistance grants
Wells Fargo & Company (NYSE:WFC), NeighborWorks® America and
its network members — Atlanta Neighborhood Development Partnership,
Inc., and NeighborWorks Columbus — today announced the
NeighborhoodLIFT® program will expand in the Atlanta area with a $6
million commitment by Wells Fargo to boost homeownership in the
counties of Clayton, Cobb, DeKalb, Fulton, and Gwinnett.
The 2018 Atlanta NeighborhoodLIFT follows one in 2012 that
created 378 homeowners by offering homebuyer education plus $15,000
down payment assistance grants in an $8 million commitment by Wells
Fargo. Overall, Wells Fargo has conducted 58 LIFT program events in
the U.S. since 2012.
Free NeighborhoodLIFT homebuyer event
May 4–5
More than 500 homebuyers are registered to attend the
NeighborhoodLIFT event scheduled May 4–5 from 10 a.m. to 7
p.m. at the Atlanta Convention Center at AmericasMart, when
eligibility will be determined to reserve a grant to purchase a
home in the counties of Clayton, Cobb, DeKalb, Fulton, or Gwinnett.
While registration is full, walk-ins are welcome to meet with a
nonprofit specialist while funds are available for reservation.
Those intending to walk in should be prepared with documents
required to reserve funds posted at www.andpi.org/lift.
In addition, prospective homebuyers may participate in financial
education sessions at the homebuyer event. Participating homebuyers
can obtain mortgage financing from any participating lender, and
the Atlanta Neighborhood Development Partnership will determine
eligibility. NeighborWorks Columbus will administer the down
payment assistance grants.
“The NeighborhoodLIFT program is another example of our
commitment to the Atlanta area and our efforts to build better
communities through sustainable homeownership,” said Chad Gregory,
Wells Fargo South metro Atlanta and West Georgia region bank
president. “The program will help hardworking families and
individuals get on the path to achieve homeownership and follows
the 2012 LIFT program that created 378 homeowners.”
To be eligible, annual incomes must not exceed 80 percent of the
local area median income, which is about $59,850 in the Atlanta
community for a single household up to a family of four and up to
$64,650 for a family of five. In addition, there are special
parameters for veterans and service members, teachers, law
enforcement officers, firefighters and emergency medical
technicians who may reserve $17,500 down payment assistance grants
within eligibility requirements including earning up to 100 percent
of the area median income, which is about $74,800 for up to a
family of four and $80,800 for a family of five.
Approved homebuyers will have up to 60 days to finalize a
contract to purchase a home in the Atlanta metro counties of
Clayton, Cobb, DeKalb, Fulton, and Gwinnett.
“This innovative public-private collaboration will create about
300 more homeowners in the Atlanta area,” 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.”
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.
“We are ready to equip Atlanta families with education and down
payment assistance grants through the Wells Fargo NeighborhoodLIFT
program to help them achieve sustainable homeownership,” said John
O’Callaghan, president and chief executive officer, Atlanta
Neighborhood Development Partnership. “Wells Fargo’s homeownership
investment will help Atlanta and the surrounding counties address
our growing need for affordable housing.”
Since February 2012, LIFT programs have helped create more than
17,150 homeowners in 57 communities. A video about the
NeighborhoodLIFT program is posted on Wells Fargo Stories.
About Atlanta Neighborhood Development Partnership, Inc.,
NeighborWorks Columbus and NeighborWorks America
Atlanta Neighborhood Development Partnership, Inc. and
NeighborWorks Columbus are chartered members 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 https://www.andpi.org/,
https://nwcolumbus.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,
investments, mortgage, and consumer and commercial finance through
8,200 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 265,000 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20180417006102/en/
Crystal Drake,
404-783-5402Crystal.Drake@wellsfargo.com@crystaldrakeWForStephanie
Grant, 760-317-6505Stephanie.Grant2@wellsfargo.com@SgrantWF
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