Wells Fargo teamed up with NeighborWorks America to help potential homeowners with their downpayments. So far, the program has helped more than 11,000 homeowners across 40 communities who now own their home after participating in the program.
Neighborhood LIFT was first introduced in 2012. The purpose of the program was to accelerate local economic recovery in the aftermath of the 2008 housing crisis, as well as to boost sustainable homeownership and advance neighborhood revitalization.
Since its creation, Wells Fargo has paid $300 million in LIFT programs to provide downpayment assistance grants, program support and homebuyer education.
The program recently was introduced to San Diego County in California from March 4-5, and will be introduced to Philadelphia from April 1-2.
“The reaction we receive from homebuyers receiving a down payment assistance grant is true excitement,” said Kim Smith-Moore, LIFT programs national manager with Wells Fargo Home Mortgage. “Having completed homebuyer education, these 11,000 families and individuals are better prepared to be successful and sustainable homeowners over time.”
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