Program offers homebuyer education plus $15,000 down payment assistance grants; special parameters for veterans, military, teachers, first responders
KANSAS CITY, Mo.--(BUSINESS WIRE)--Wells Fargo & Company (NYSE:WFC), NeighborWorks® America
and its network member, Westside Housing Organization, today announced
the NeighborhoodLIFT®
program will expand to the Kansas City, Mo. area with a $5.7 million
commitment by Wells Fargo to boost homeownership in the counties of
Cass, Clay and Jackson.
“On behalf of my constituents in the 5th District of
Missouri, we commend Wells Fargo, NeighborWorks America, Westside
Housing and Beyond Housing for working together to bring this innovative
program forward,” said Congressman Emanuel Cleaver. “NeighborhoodLIFT
will put hundreds of our residents on the path to homeownership.”
The event in Kansas City is Wells Fargo’s 61st LIFT program
launch conducted in collaboration with NeighborWorks America and its
network members through NeighborhoodLIFT and other LIFT programs. The
2018 NeighborhoodLIFT program for the Kansas City area follows the 2014
Kansas City NeighborhoodLIFT program that created 308 homeowners by
offering homebuyer education plus $15,000 down payment assistance grants
as a result of a $6.3 million commitment by Wells Fargo.
“NeighborhoodLIFT has proven to be a catalyst to put homeownership
within reach for our community’s families, veterans, teachers and first
responders,” Kansas City Mayor Sly James said. “We welcome this
innovative effort that will provide our residents with access to even
more affordable housing options in our community.”
Registration open for free event in Kansas City July 27–28
Interested homebuyers may register now to attend the free Wells Fargo
NeighborhoodLIFT event July 27 from 10 a.m. to 7 p.m. and July 28 from 9
a.m. to 2 p.m. at the Kansas City Convention Center, 301 W. 13th St.,
Kansas City, Mo. 64105. Walk-ins are also available while the $15,000
grants are available for reservation. To learn more about the
eligibility requirements and documents needed to apply for a down
payment assistance grant, visit www.wellsfargo.com/lift.
Participating homebuyers can obtain mortgage financing from any
participating lender. Westside Housing will determine eligibility and
Beyond Housing will administer the down payment assistance grants.
“The NeighborhoodLIFT program is another example of our commitment to
Kansas City,” said Kirk Kellner, Wells Fargo region bank president for
Missouri. “The effort will contribute to strengthening communities by
helping 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, which is about $64,000 for up to a family of four in
Kansas City, Mo. In addition, there are special parameters for veterans
and service members, teachers, law enforcement officers, firefighters
and emergency medical technicians who may earn up to 100 percent of the
local area median income, which is about $80,000, to reserve $17,500
down payment assistance grants within eligibility requirements. Approved
homebuyers will have up to 60 days to finalize a contract to purchase a
home in Cass, Clay or Jackson counties.
“This innovative public-private collaboration will create more than 300
homeowners,” said John Santner, regional vice president, Midwest 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 ready to assist Kansas City-area families and provide homebuyer
education and down payment assistance to help them achieve successful
and sustainable homeownership,” said Gloria Ortiz-Fisher, executive
director of Westside Housing Organization. “The NeighborhoodLIFT program
offers an affordable and achievable way to realize homeownership goals.”
Since February 2012, LIFT programs have helped create nearly 18,000
homeowners in 60 communities. A video about the NeighborhoodLIFT program
is posted on Wells
Fargo Stories.
About Westside Housing Organization, Beyond Housing and NeighborWorks
America
Westside Housing Organization and Beyond Housing 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 www.westsidehousing.org,
www.beyondhousing.org
or 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. 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.