Wells Fargo NeighborhoodLIFT Program to Boost El Paso Homeownership
October 28 2016 - 11:35AM
Business Wire
Eligible homebuyers can make an appointment now
to apply for a matching down payment assistance grant up to $7,500
on December 2-3 at El Paso Convention Center
Wells Fargo & Company (NYSE:WFC), NeighborWorks® America and
its network member Tierra Del Sol Housing Corporation today
announced the upcoming El Paso NeighborhoodLIFT® program with a
$4.5 million commitment by Wells Fargo to help boost local
homeownership.
This Smart News Release features multimedia.
View the full release here:
http://www.businesswire.com/news/home/20161028005188/en/
“I am pleased Wells Fargo has selected El Paso and other
communities in El Paso County to participate in this innovative
homeownership initiative,” said El Paso Mayor Oscar Leeser.
“Working together we hope to build more sustainable and viable
neighborhoods and communities by helping homebuyers attain the
dream of owning a home.”
Interested homebuyers can attend the free event on December 2-3
when eligibility will be determined for an opportunity to reserve a
matching down payment assistance grant ranging from $2,500 up to
$7,500 based on the homebuyer’s contribution. Annual incomes must
not exceed 80 percent of the local area median income, which in El
Paso is about $41,900 for a family of four, with income maximums
varying depending on family size and type of loan. To learn more
about the eligibility requirements and to register, visit
www.NeighborhoodLIFT.com or call (866) 858-2151. Pre-registration
is strongly recommended to reserve a matching down payment
assistance grant.
“The NeighborhoodLIFT program will help hard-working families
and individuals get set up for success with down payment assistance
and homebuyer education,” said Lisa Riley, El Paso region president
for Wells Fargo’s Community Bank. “The NeighborhoodLIFT program is
another example of our commitment to El Paso County and efforts to
create affordable homeownership in local communities.”
Registration for the NeighborhoodLIFT
event on December 2-3
The Wells Fargo NeighborhoodLIFT program will begin with a free
event December 2-3 from 10 a.m. to 7 p.m. at El Paso Convention
Center located at 1 Civic Center Plaza.
The event also includes a Wells Fargo Virtual Affordable Home
Tour® viewing center where attendees can preview local homes
available for purchase.
Approved homebuyers will have up to 60 days to finalize a
contract to purchase a home. To reserve the full grant amount,
participants buying homes with the NeighborhoodLIFT program must
commit to live in the home for three years.
“This innovative collaboration between NeighborWorks America,
our network member, Tierra Del Sol Housing Corporation, Wells Fargo
and El Paso will create nearly 400 homeowners,” said Steve Barbier,
western region senior relationship manager with NeighborWorks
America. “The required homebuyer education classes provided by
certified professionals helps people achieve their goal of
sustainable homeownership.”
To be eligible, homebuyers must complete an eight-hour homebuyer
education session with Tierra Del Sol Housing Corporation or
another HUD-approved housing counseling agency. NeighborhoodLIFT
program grants may be combined with other down payment assistance
programs to provide additional financial benefits, and homebuyers
can obtain mortgage financing from any qualified lender.
“We are ready to help families qualify for the Wells Fargo
NeighborhoodLIFT down payment assistance grants,” said Rose Garcia,
executive director with Tierra Del Sol Housing Corporation. “Wells
Fargo’s investment will help make El Paso stronger.”
Since February 2012, LIFT programs have helped create more than
12,500 homeowners in 47 communities; including nearly 1,000
homeowners in Texas as a result of NeighborhoodLIFT events in
Austin, San Antonio, Dallas and Houston. A video about the
NeighborhoodLIFT program is posted on Wells Fargo Stories.
About Tierra Del Sol Housing Corporation and NeighborWorks
America
Tierra Del Sol 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 www.neighborworks.org, or http://tdshc.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. Founded in 1852 and headquartered in San Francisco, Wells
Fargo provides banking, insurance, investments, mortgage, and
consumer and commercial finance through more than 8,600 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
269,000 team members, Wells Fargo serves one in three households in
the United States. Wells Fargo & Company was ranked No. 27 on
Fortune’s 2016 rankings of America’s largest corporations. Wells
Fargo’s vision is to satisfy our customers’ financial needs and
help them succeed financially. In 2015, Wells Fargo donated $281.3
million to 16,300 nonprofits, ranking No. 3 on the Chronicle of
Philanthropy’s rankings of the top corporate cash philanthropists.
Wells Fargo team members volunteered 1.86 million hours in 2015,
serving more than 40,000 nonprofits. Wells Fargo’s corporate social
responsibility efforts are focused on three priorities: economic
empowerment in underserved communities, environmental
sustainability, and advancing diversity and social inclusion. 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/20161028005188/en/
Wells Fargo & CompanyMichael English,
505-318-8156Michael.English@wellsfargo.comorAlfredo Padilla,
213-369-6122alfredo.padilla@wellsfargo.com
Wells Fargo (NYSE:WFC)
Historical Stock Chart
From Apr 2024 to May 2024
Wells Fargo (NYSE:WFC)
Historical Stock Chart
From May 2023 to May 2024