NeighborhoodLIFT® program will offer homebuyer education plus
$15,000 down payment assistance grants for eligible Douglas and
Sarpy County homebuyers; special parameters for veterans, military,
teachers and first responders
Wells Fargo & Company (NYSE:WFC), NeighborWorks® America and
Family Housing Advisory Services (FHAS), Inc., today announced the
NeighborhoodLIFT® program will expand for Omaha with a $3.9 million
commitment by Wells Fargo to boost local homeownership.
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the full release here:
https://www.businesswire.com/news/home/20190522005806/en/
NeighborhoodLIFT® is the single largest
corporate philanthropic effort of its kind in Wells Fargo’s history
and is funded by the Wells Fargo Foundation. Launched in early
2012, the NeighborhoodLIFT program provides down payment
assistance, homebuyer education, and support for potential
homebuyers. (Graphic: Business Wire)
“The Omaha area is a special place to call home, and this
investment will help ensure that our residents have access to safe,
high-quality housing they can afford,” said Omaha Mayor Jean
Stothert. “We appreciate the efforts of Wells Fargo, NeighborWorks
America and their local partners for bringing the NeighborhoodLIFT
program to Douglas and Sarpy counties to help put homeownership
within reach for hundreds of households.”
Free NeighborhoodLIFT event scheduled June 21–22
Interested homebuyers are encouraged to register beginning
Monday, June 3, at www.wellsfargo.com/lift to attend the free event
scheduled on Friday, June 21, from 10 a.m. to 7 p.m. and on
Saturday, June 22, from 9 a.m. to 2 p.m. at the Ramada Plaza,
located at 3321 South 72nd Street, Omaha. Walk-ins also are welcome
while grants are available. FHAS, GROW South Dakota and
Neighborhood Finance Corporation (NFC) will administer the $15,000
grants, determine eligibility and provide homebuyer and financial
education.
“The NeighborhoodLIFT program is another example of our
commitment to Omaha and our efforts to build better communities
through sustainable homeownership,” said Kirk Kellner, Wells Fargo
region bank president in Nebraska. “The program will help
hardworking families and individuals get on the path to achieve
successful and sustainable homeownership.”
To reserve a $15,000 down payment assistance grant, eligible
homebuyers must be pre-approved for financing with an eligible
lender to purchase a home in Douglas or Sarpy counties and earn 80%
or less of the area median income, which is $68,800 for up to a
family of four. Military service members and veterans, teachers,
law enforcement officers, firefighters and emergency medical
technicians may reserve down payment assistance grants of $17,500
and earn up to 100% of the area median income.
“This innovative public-private collaboration will create 175
Omaha homeowners,” said John Santner, regional vice president,
Midwest Region, for NeighborWorks America. “The required homebuyer
education classes provided by certified professionals better
prepare NeighborhoodLIFT homebuyers to achieve their goal of
sustainable homeownership.”
Approved homebuyers will have up to 60 days to finalize a
contract to purchase a home in Douglas or Sarpy counties and can
obtain mortgage financing from any participating lender. 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’re ready to help people become homeowners with the support
of NeighborhoodLIFT homebuyer education and down payment
assistance,” said Teresa Hunter, executive director and chief
executive officer of FHAS. “We are pleased to join Wells Fargo and
NeighborWorks America to make homeownership more affordable,
achievable and sustainable.”
In addition, Wells Fargo has committed $325,000 for up to 650
consumers to receive complimentary face-to-face homeownership
counseling. Interested homebuyers can receive a voucher at the
Omaha NeighborhoodLIFT launch event that will provide in-person
homeownership counseling at no charge with a participating
HUD-approved housing counselor in Omaha. The homeownership
counseling grant program is a resource in addition to the homebuyer
education required for a NeighborhoodLIFT down payment assistance
grant.
Overall, Wells Fargo has conducted 70 LIFT program events across
the U.S. since 2012, creating nearly 21,000 homeowners with a total
commitment of $456 million. A video about the NeighborhoodLIFT
program is posted on Wells Fargo Stories.
About FHAS
FHAS is an Omaha-based nonprofit whose mission is to improve the
quality of life and eliminate poverty through housing stability and
financial security. FHAS will work in partnership with GROW South
Dakota and NFC to administer the NeighborhoodLIFT program in the
Omaha area.
About NeighborWorks America
NeighborWorks America is 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 www.nw.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 7,700 locations, more than 13,000
ATMs, the internet (wellsfargo.com) and mobile banking, and has
offices in 32 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/20190522005806/en/
Julie Fogerson,
208-570-3037Julie.M.Fogerson@wellsfargo.com@JulieFogersonWFStephanie
Grant,
760-317-6505Stephanie.Grant2@wellsfargo.com@SGrantWF
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