Kansas City, Mo. Homeownership to Get Boost With $5.7 Million NeighborhoodLIFT Program
July 09 2018 - 2:45PM
Business Wire
Program offers homebuyer education plus $15,000 down payment
assistance grants; special parameters for veterans, military,
teachers, first responders
Wells Fargo & Company (NYSE:WFC), NeighborWorks® America and
its network member, Westside Housing Organization, today announced
the NeighborhoodLIFT® program will expand to the Kansas City, Mo.
area with a $5.7 million commitment by Wells Fargo to boost
homeownership in the counties of Cass, Clay and Jackson.
“On behalf of my constituents in the 5th District of Missouri,
we commend Wells Fargo, NeighborWorks America, Westside Housing and
Beyond Housing for working together to bring this innovative
program forward,” said Congressman Emanuel Cleaver.
“NeighborhoodLIFT will put hundreds of our residents on the path to
homeownership.”
The event in Kansas City is Wells Fargo’s 61st LIFT program
launch conducted in collaboration with NeighborWorks America and
its network members through NeighborhoodLIFT and other LIFT
programs. The 2018 NeighborhoodLIFT program for the Kansas City
area follows the 2014 Kansas City NeighborhoodLIFT program that
created 308 homeowners by offering homebuyer education plus $15,000
down payment assistance grants as a result of a $6.3 million
commitment by Wells Fargo.
“NeighborhoodLIFT has proven to be a catalyst to put
homeownership within reach for our community’s families, veterans,
teachers and first responders,” Kansas City Mayor Sly James said.
“We welcome this innovative effort that will provide our residents
with access to even more affordable housing options in our
community.”
Registration open for free event in Kansas City July
27–28
Interested homebuyers may register now to attend the free Wells
Fargo NeighborhoodLIFT event July 27 from 10 a.m. to 7 p.m. and
July 28 from 9 a.m. to 2 p.m. at the Kansas City Convention Center,
301 W. 13th St., Kansas City, Mo. 64105. Walk-ins are also
available while the $15,000 grants are available for reservation.
To learn more about the eligibility requirements and documents
needed to apply for a down payment assistance grant, visit
www.wellsfargo.com/lift. Participating homebuyers can obtain
mortgage financing from any participating lender. Westside Housing
will determine eligibility and Beyond Housing will administer the
down payment assistance grants.
“The NeighborhoodLIFT program is another example of our
commitment to Kansas City,” said Kirk Kellner, Wells Fargo region
bank president for Missouri. “The effort will contribute to
strengthening communities by helping 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, which is about $64,000 for up to a family
of four in Kansas City, Mo. In addition, there are special
parameters for veterans and service members, teachers, law
enforcement officers, firefighters and emergency medical
technicians who may earn up to 100 percent of the local area median
income, which is about $80,000, to reserve $17,500 down payment
assistance grants within eligibility requirements. Approved
homebuyers will have up to 60 days to finalize a contract to
purchase a home in Cass, Clay or Jackson counties.
“This innovative public-private collaboration will create more
than 300 homeowners,” said John Santner, regional vice president,
Midwest 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 assist Kansas City-area families and provide
homebuyer education and down payment assistance to help them
achieve successful and sustainable homeownership,” said Gloria
Ortiz-Fisher, executive director of Westside Housing Organization.
“The NeighborhoodLIFT program offers an affordable and achievable
way to realize homeownership goals.”
Since February 2012, LIFT programs have helped create nearly
18,000 homeowners in 60 communities. A video about the
NeighborhoodLIFT program is posted on Wells Fargo Stories.
About Westside Housing Organization, Beyond Housing and
NeighborWorks America
Westside Housing Organization and Beyond Housing 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 245 nonprofits, located in
every state, the District of Columbia and Puerto Rico. Visit
www.westsidehousing.org, www.beyondhousing.org or
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. 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20180709005092/en/
Julie Fogerson,
208-519-3351Julie.M.Fogerson@wellsfargo.com@JulieFogersonWForStacie
Bendixen,
515-398-7157Stacie.A.Bendixen@wellsfargo.com@SBendixenWF
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