NeighborhoodLIFT program will offer homebuyer education plus
$7,500 down payment assistance grants for all 33 New Mexico
counties; special parameters for veterans, military, teachers, and
first-responders
Wells Fargo & Company (NYSE:WFC), NeighborWorks® America and
its network member, Homewise, today announced the NeighborhoodLIFT®
program will expand for all 33 counties in the state of New Mexico
with a $4.6 million commitment by Wells Fargo to boost
homeownership.
“This investment by Wells Fargo to expand NeighborhoodLIFT
throughout the state of New Mexico will make a meaningful
difference for many families,” said Rio Rancho Mayor Greggory D.
Hull. “New Mexico is a wonderful place to live, and I am thankful
to Wells Fargo, NeighborWorks and Homewise for working together to
expand this innovative program for our community.”
The 2018 New Mexico NeighborhoodLIFT program follows a similar
LIFT event in 2015 that created 221 homeowners in Albuquerque,
N.M., by offering homebuyer education plus down payment assistance
grants as part of a $4.7 million commitment by Wells Fargo.
Overall, Wells Fargo has conducted 58 LIFT program events in the
U.S. since 2012 that have created more than 17,550 homeowners.
Registration now open for homebuyer
event in Albuquerque, N.M., June 1–2
The Wells Fargo NeighborhoodLIFT program will begin with a free
event June 1–2 from 10 a.m. to 7 p.m. at the Albuquerque Convention
Center, located at 401 2nd St. NW in Albuquerque. To learn more
about the eligibility requirements and to register, visit
www.wellsfargo.com/lift or call (866) 858-2151. Pre-registration is
strongly recommended.
At the event, the first 100 homebuyers who participate each day
will have an opportunity to reserve a $100 gift voucher to be
awarded upon completion of homebuyer education. In addition,
prospective homebuyers may participate in financial education
sessions at the homebuyer event. Participating homebuyers can
obtain mortgage financing from any participating lender, and
Homewise will determine eligibility and administer the down payment
assistance grants.
“The NeighborhoodLIFT program is another example of our
commitment to New Mexico and our efforts to build better
communities through sustainable homeownership,” said David
Hockmuth, Wells Fargo New Mexico region bank president. “The
program will help 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 in the county where the home is being
purchased. In addition, there are special parameters for veterans
and service members, teachers, law enforcement officers,
firefighters and emergency medical technicians who may reserve
$10,000 down payment assistance grants within eligibility
requirements including earning 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 in New Mexico.
“This innovative public-private collaboration will create about
430 more homeowners in New Mexico,” said Gary Wolfe, regional vice
president, western 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 excited to team-up with the NeighborhoodLIFT program for
New Mexico families that will provide homebuyer education and down
payment assistance to help them achieve sustainable homeownership,”
said Laura Altomare, chief communications officer of Homewise. “The
NeighborhoodLIFT program offers New Mexico families an affordable
and accessible way to realize their homeownership goals.”
Since February 2012, LIFT programs have helped create more than
17,550 homeowners in 58 communities. A video about the
NeighborhoodLIFT program is posted on Wells Fargo Stories.
About Homewise and NeighborWorks America
Homewise 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
245 nonprofits, located in every state, the District of Columbia
and Puerto Rico. Visit www.homewise.org, or
http://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. 25 on Fortune’s 2017 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/20180516006051/en/
Mike English,
505-765-5054Mike.English@wellsfargo.com@MikeEnglishWForAlfredo
Padilla, 213-253-3379Alfredo.Padilla@wellsfargo.com@APadillaWF
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