NeighborhoodLIFT program will offer homebuyer education plus
$15,000 down payment assistance grants available for eligible
homebuyers in Lake, Orange, Osceola and Seminole counties; special
parameters for veterans, military, teachers and first
responders
Wells Fargo & Company (NYSE:WFC), NeighborWorks® America,
Orlando Neighborhood Improvement Corporation (ONIC), and
Neighborhood Housing Services of South Florida (NHSSF) today
announced the NeighborhoodLIFT® program will launch for Lake,
Orange, Osceola and Seminole counties with a $6.3 million
commitment by Wells Fargo to boost local homeownership.
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the full release here:
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Since February 2012, LIFT programs have
helped create nearly 19,000 homeowners in 65 communities. (Graphic:
Business Wire)
“The City of Orlando is committed to ensuring that our residents
have access to safe, high-quality housing they can
afford, and a key piece of this is to develop new policies and
partnerships that remove barriers for residents who would like to
pursue the American dream of homeownership,” said Orlando
Mayor Buddy Dyer. “That is why we are pleased to welcome Wells
Fargo’s NeighborhoodLIFT program to Orlando. Through
NeighborhoodLIFT, residents may qualify for down payment assistance
grants and educational and counseling services that can help
them achieve the goal of owning a home.”
The 2018 Orlando NeighborhoodLIFT program follows the 2012
program that created 205 homeowners in the greater Orlando area.
Overall, Wells Fargo has conducted 65 LIFT program events in the
U.S. since 2012 that have created nearly 19,000 homeowners.
Walk-ins are welcome for the free NeighborhoodLIFT event in
Orlando Nov. 30–Dec. 1
More than 360 interested homebuyers are registered to attend the
free event on Friday, Nov. 30, from 10 a.m. – 7 p.m. and on
Saturday, Dec. 1, from 9 a.m. – 2 p.m. at the DoubleTree Hilton
SeaWorld, located at 10100 International Dr., Orlando. Walk-ins
also are welcome while grants are available for reservation. Those
intending to walk in should be prepared with documents required to
reserve funds posted at www.orlandoneighborhood.org/lift/.
Participating homebuyers can obtain mortgage financing from any
participating lender, and ONIC and NHSSF will determine
eligibility, administer the grants, and provide homebuyer and
financial education. Approved homebuyers will have up to 60 days to
finalize a contract to purchase a home in Lake, Orange, Osceola and
Seminole counties.
“The NeighborhoodLIFT program is another example of our
commitment to Central Florida and our efforts to build better
communities through sustainable homeownership,” said Derek Jones,
Wells Fargo North Central Florida 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 to reserve $15,000 down payment assistance grants. In
addition, there are special parameters for veterans and service
members, teachers, law enforcement officers, firefighters and
emergency medical technicians who may reserve $17,500 down payment
assistance grants within eligibility requirements including earning
up to 100 percent of the area median income.
In addition, Wells Fargo has committed $225,000 for up to 450
consumers to receive complimentary face-to-face homeownership
counseling. Interested homebuyers can receive a voucher at the
Orlando NeighborhoodLIFT launch event that will provide in-person
homeownership counseling at no charge with a participating
HUD-approved housing counselor in the Orlando area. The
complimentary Home Ownership Counseling grant program is an
additional resource to the homebuyer education required for a
NeighborhoodLIFT down payment assistance grant.
“This innovative public-private collaboration will create about
325 more homeowners in the greater Orlando area,” said Donald
Phoenix, regional vice president, Southern region, NeighborWorks
America. “The required homebuyer education classes provided by
certified professionals better prepare NeighborhoodLIFT homebuyers
to achieve their goal of sustainable homeownership.”
Approved homebuyers must be approved for home financing with an
eligible lender and be in contract to purchase a home in Lake,
Orange, Osceola or Seminole County. 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.
“The NeighborhoodLIFT program will provide homebuyer education
and down payment assistance to help families become homeowners,”
said Robert Ansley, president of ONIC. “We are excited to team up
with Wells Fargo and NeighborWorks America to make this opportunity
available for so many deserving families.”
Since February 2012, LIFT programs have helped create nearly
19,000 homeowners in 65 communities. A video about the
NeighborhoodLIFT program is posted on Wells Fargo Stories.
About ONIC, NHSSF and NeighborWorks America
Orlando Neighborhood Improvement Corporation (ONIC) has been
developing affordable housing in Central Florida since 1989.
Neighborhood Housing Services of South Florida has worked to
strengthen communities and create affordable housing for over 30
years. Both organizations are chartered members 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
http://orlandoneighborhood.org/, https://nhssf.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,
investment and mortgage products and services, as well as consumer
and commercial finance, through 7,950 locations, 13,000 ATMs, the
internet (wellsfargo.com) and mobile banking, and has offices in 37
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.
© 2018 Wells Fargo Bank N.A. All rights reserved. For Public
Use.
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version on businesswire.com: https://www.businesswire.com/news/home/20181114005756/en/
Media Contacts:Gabriela Lambertus,
305-619-8898Gabriela.Lambertus@wellsfargo.com@GabyLambertusWFStephanie
Grant, 760-317-6505Stephanie.Grant2@wellsfargo.com@SGrantWF
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