Eligible homebuyers can make an appointment now
to apply for a matching down payment assistance grant up to $7,500
on Feb. 3-4
Wells Fargo & Company (NYSE:WFC), NeighborWorks® America and
its network member DHIC, Inc. today announced the upcoming
Raleigh-Durham NeighborhoodLIFT® program with a $5 million
commitment by Wells Fargo to help boost local homeownership.
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“I am pleased Wells Fargo has selected Raleigh-Durham to
participate in this innovative homeownership initiative,” said
Raleigh Mayor Nancy McFarlane. “Working together we hope to build
and strengthen neighborhoods and communities by helping homebuyers
attain the dream of owning a home.”
“This program will help our city and county by making
homeownership more affordable for our families,” said Durham Mayor
William Bell. “As a longtime advocate for affordable housing, I’m
grateful to Wells Fargo for this significant investment in our
community, and look forward to working with them, NeighborWorks
America, and DHIC to further this important sustainable housing
effort.”
Interested homebuyers can attend the free event on Feb. 3-4 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.
“The NeighborhoodLIFT program will help hard-working families
and individuals get set up for success with down payment assistance
and homebuyer education,” said Jack Clayton, regional president for
Wells Fargo. “The NeighborhoodLIFT program is another example of
our commitment to Raleigh-Durham and efforts to create affordable
homeownership in our local communities.”
Registration for the NeighborhoodLIFT
event on Feb. 3-4
The Wells Fargo NeighborhoodLIFT program will begin with a free
event Feb. 3-4 from 10 a.m. to 7 p.m. at the Hilton North
Raleigh/Midtown, located at 3415 Wake Forest Rd, Raleigh. 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 event also includes a Wells
Fargo Virtual Affordable Home Tour® viewing center where
attendees can preview local homes available for purchase.
To be eligible, annual incomes must not exceed 80 percent of the
local area median income, which is $56,550 in Durham County and
$61,300 in Wake County for a family of four, with income maximums
varying depending on family size and type of loan. Eligibility for
Military servicemembers and veterans may earn up to 100 percent of
the area median income.
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 DHIC, Wells Fargo and Raleigh-Durham will create
nearly 400 homeowners,” said Donald Phoenix, regional vice
president, southern region, NeighborWorks America. “The required
homebuyer education classes provided by certified professionals
help people achieve their goal of sustainable homeownership.”
To be eligible, down payment recipients must complete an
eight-hour homebuyer education session with DHIC 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 Gregg
Warren, President of DHIC. “Wells Fargo’s investment will help make
Raleigh-Durham stronger.”
Since February 2012, LIFT programs have helped create more than
12,900 homeowners in 48 communities, including more than 300
homeowners in North Carolina as a result of a NeighborhoodLIFT
event in Charlotte. A video about the NeighborhoodLIFT program is
posted on Wells Fargo Stories.
About DHIC, Inc. and NeighborWorks America
Established in 1974 and based in downtown Raleigh, DHIC, Inc.
has built or rehabilitated more than 2,200 affordable rental
apartments and 400 homes for sale in the greater Research Triangle
area. In addition, DHIC’s Homeownership Center provides homebuyer
education and advisory services to close to 400+ first-time
homebuyers annually. DHIC Inc. 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 www.dhic.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/20170113005057/en/
Wells Fargo & CompanyJosh Dunn,
704-374-4835josh.dunn@wellsfargo.comStacie Bendixen,
515-398-7157stacie.a.bendixen@wellsfargo.com
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