Wells Fargo Expands NeighborhoodLIFT for Jacksonville Homebuyers

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Wells Fargo Expands NeighborhoodLIFT for Jacksonville Homebuyers

Eligible homebuyers can make an appointment now to apply for a matching down payment assistance grant up to $7,500 on September 23-24 at the Prime F. Osborn Convention Center
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$7,500 down payment assistance grants available to #Jacksonville FL homebuyers via @WellsFargo @Neighborworks http://bit.ly/2c4BPeL
Friday, September 9, 2016 - 11:30am

CAMPAIGN: Free Financial Education Resources for All Ages

CONTENT: Press Release

JACKSONVILLE, Fla., September 9, 2016 /3BL Media/ – Wells Fargo & Company (NYSE: WFC), NeighborWorks® America and its network member Housing Partnership, Inc., today announced the NeighborhoodLIFT® program will return to Jacksonville with a $5 million commitment by Wells Fargo to boost homeownership.  

Ths program created 328 new homeowners in Jacksonville in 2012. The 2016 expansion is expected to create about 450 additional homeowners by offering education plus down payment assistance.

“Homeownership is part of the American Dream for many individuals and families in the Jacksonville area,” said Mayor Lenny Curry. “The availability of matching down payment assistance grants and other counseling services through the NeighborhoodLIFT program is a huge win for our city and truly meets a growing need to building sustainable communities.”

Interested homebuyers can attend the free homebuyer event on September 23-24 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. To learn more about the eligibility requirements and register, visit www.NeighborhoodLIFT.com

“We are committed to supporting local communities and help stimulate affordable homeownership in Jacksonville,” said Kelly Smith, North Florida region president for Wells Fargo’s Community Bank. “The NeighborhoodLIFT program will set hard-working families and individuals up for success through down payment assistance and homebuyer education, revitalizing neighborhoods and creating stronger communities.”

Registration for the NeighborhoodLIFT event on September 23-24
The Wells Fargo NeighborhoodLIFT program will begin with a free event on September 23-24 from 10 a.m. to 7 p.m. at the Prime F. Osborn Convention Center located at 1000 Water St. Prospective homebuyers can register at www.NeighborhoodLIFT.com or calling (866) 858-2151.

Pre-registration is strongly recommended to reserve a matching down payment assistance grant, although walk-ins are welcome while funds are available. The event includes a Wells Fargo Affordable Home Tour® viewing center where attendees can preview local homes available for purchase.

Matching down payment assistance grants will be based on the eligible homebuyer’s contribution. Annual incomes must not exceed 80 percent of the local area median income, which in Jacksonville is about $51,900 for a family of four, with income maximums varying depending on family size and type of loan. 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.

The NeighborhoodLIFT event in Jacksonville for active servicemembers and veterans will include information about special financing and resources such as VA loans, homebuyer education and down payment assistance grants. Area median income limit for servicemembers and veterans is $64,900 for a family of four in Jacksonville, with income maximums varying depending on family size and type of loan. Since announcing its Military Affairs program in 2012, Wells Fargo has contributed more than $68.5 million to support military and veterans. This includes 19.5 million in nonprofit grants, and more than 300 home donations to wounded veterans valued at more than $49 million.

“NeighborWorks America and Wells Fargo’s collaboration has already helped thousands of people achieve homeownership throughout the country,” said Don Phoenix, regional vice president, Southern Region, NeighborWorks America. “One of the best ways to prepare for homeownership is to work with a housing counselor who knows the community and can help guide consumers through the entire process.”

To be eligible, homebuyers must complete an eight-hour homebuyer education session with Housing Partnership Inc. or Wealth Watchers HUD-approved housing counseling agencies. 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.

“This collaborative effort by NeighborWorks America and Wells Fargo will make a significant impact in helping hundreds achieve affordable and sustainable homeownership,” said Pat McNamara, president and CEO, Housing Partnership, Inc. “We are thrilled to help connect Jacksonville homebuyers to NeighborhoodLIFT down payment assistance grants and the homebuyer education support services we provide.”

Since February 2012, NeighborhoodLIFT programs combined have helped create more than 12,000 homeowners in 46 communities. A video about NeighborhoodLIFT programs is posted on Wells Fargo Stories.

About Housing Partnership Inc., Wealth Watchers and NeighborWorks America
Housing Partnership Inc. and Wealth Watchers 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 240 nonprofits, located in every state, the District of Columbia and Puerto Rico. Visit www.neighborworks.org, www.cp-cto.org/housing-partnership or https://wealthwatchersfl.com 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 36 countries and territories to support customers who conduct business in the global economy. With approximately 268,000 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. Wells Fargo perspectives are also available at Wells Fargo Blogs and Wells Fargo Stories.