Wells
Fargo $15,000 Down Payment assistance program ready to hit Phoenix Real Estate
market.
It's
1st come 1st served, so call Pete Today 480-812-9200.
Phoenix becomes third
city to join Wells Fargo’s ‘NeighborhoodLIFT,’ bank’s pilot program in support
of stabilizing housing markets
·
Includes five-year goal of $3 billion in mortgage loans for
Phoenix homebuyers
·
Offers Phoenix homebuyers the opportunity to attend a March
23-24 event at the Phoenix Convention Center where they can apply for Wells Fargo-funded down payment assistance
grants and homebuyer support programs totaling $8 million
·
At the event, NeighborWorks America and Phoenix-area
non-profits will process applications for down payment assistance grants of up
to $15,000 per homebuyer in the city of Phoenix through the Wells Fargo Foundation
Wells Fargo & Company (NYSE: WFC), one
of America’s leading community banks and the nation’s largest home mortgage
lender, today announced that its NeighborhoodLIFTSM pilot program is coming to a third market,
Phoenix, on March 23-24 at the Phoenix Convention Center, as it collaborates
with city officials and non-profit organizations on helping this community
overcome the effects of the country’s foreclosure crisis.
The company said the NeighborhoodLIFTSM program has been designed to
help communities attract qualified, prospective homebuyers to neighborhoods
struggling with high inventories of unsold homes. In Phoenix, this will include
a five-year goal of $3 billion in mortgage purchase loans by Wells Fargo, and an $8 million investment
the bank is making this year for down payment assistance grants and homebuyer
support programs that help consumers achieve successful, sustainable home
ownership.
Wells Fargo chose Phoenix as its third
market for the NeighborhoodLIFTSM program based on the city’s high concentrations
of homeowners, foreclosures, delinquencies, and overall housing inventory.
Similar criteria resulted in Los Angeles and Atlanta becoming the program’s
first pilot markets.
At the March 23-24 NeighborhoodLIFT event in Phoenix, prospective
homebuyers will be able to apply for down payment assistance grants of up to
$15,000, covering home and renovation financing, and to participate in
homebuyer education sessions and tours of residential properties for sale in
the Phoenix market. Representatives from Neighborhood Housing Services of
Phoenix, a NeighborWorks America affiliate, and the city of Phoenix will be on
site to help with the processing of applications for grants and other services.
“The downturn in the economy
has created challenges for many of our Phoenix citizens to become homeowners,”
said Phoenix Mayor Greg Stanton. “Everyone — corporations, nonprofits, the
city, should step up to the plate on homeownership so we can get our housing
market moving again. We are looking forward to collaborating with Wells Fargo, NeighborWorks America, and
Neighborhood Housing Services of Phoenix on this important sustainable housing
effort. It’s time to get Phoenix back on its feet, and we all can do that by
helping our residents put down roots and make a commitment.”
About Neighborhood LIFTSM
The NeighborhoodLIFT SM program
is a collaboration between Wells Fargo Bank, N.A., Wells Fargo Foundation,
NeighborWorks America, an independent non-profit organization, and local
non-profit organizations. The NeighborhoodLIFT SM program
is designed to provide sustainable homeownership initiatives in cities deeply
affected by the housing crisis. A video about the NeighborhoodLIFT
program
is posted at http://www.youtube.com/user/wellsfargo/featured
