Eligible homebuyers can make an appointment now to apply for a matching down payment assistance grant up to $7,500 on March 3-4
Wells Fargo & Company (NYSE:WFC), NeighborWorks® America
and its network member Neighborhood Housing Services of Southern Nevada
today announced the NeighborhoodLIFT® program is expanding to
Las Vegas Valley with a $5.55 million commitment by Wells Fargo to boost
homeownership.
“I want to extend my appreciation to Wells Fargo for returning to Las
Vegas with this innovative homeownership initiative,” said Las Vegas
Mayor Carolyn Goodman. “Working together, we are committed to
strengthening neighborhoods and helping our residents put homeownership
within reach.”
Interested homebuyers can attend the free event on March 3-4 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.
“The NeighborhoodLIFT program is another example of our commitment to
the Las Vegas Valley and efforts to create affordable homeownership in
our local communities,” said Kirk Clausen, regional president for Wells
Fargo. “This will be Wells Fargo’s 50th LIFT program event
and follows the successful 2012 NeighborhoodLIFT program for Las Vegas
and North Las Vegas that created 422 homeowners.”
Registration for the NeighborhoodLIFT event on
March 3-4
The Wells
Fargo NeighborhoodLIFT program will begin with a free event March
3-4 from 10 a.m. to 7 p.m. at the Flamingo Hotel, located at 3555 S. Las
Vegas Blvd. To learn more about the eligibility requirements and to
register, visit www.NeighborhoodLIFT.com
or call or (866) 858-2151.
Pre-registration is strongly recommended for an opportunity to reserve a
matching down payment assistance grant. The event also includes a Wells
Fargo Virtual Affordable Home Tour
®
viewing center
where attendees can preview local homes available for purchase.
To be eligible, annual incomes must not exceed 80 percent of the local
area median income, which is about $48,150 for an individual homebuyer
up to a family of four, and $52,050 for a family of five in Las Vegas
Valley with income maximums varying depending on family size and type of
loan. Eligibility for Military servicemembers and veterans may earn up
to 100 percent of the area median income, which is about $60,200 for a
family of four.
Approved homebuyers will have up to 60 days to finalize a contract to
purchase a home in Las Vegas Valley participating communities including
Las Vegas, Henderson, North Las Vegas and the towns of Enterprise,
Paradise, Spring Valley, Sunrise Manor, Whitney, or Winchester. To
reserve the full grant amount, participants buying homes with the NeighborhoodLIFT
program must commit to live in the home for three years.
“This innovative collaboration between NeighborWorks America, our
network member Neighborhood Housing Services of Southern Nevada, Wells
Fargo and Las Vegas will create about 560 homeowners,” said Steve
Barbier, regional executive, NeighborWorks America. “The required
homebuyer education classes provided by certified professionals help
people achieve their goal of sustainable homeownership.”
To be eligible, down payment recipients must complete an eight-hour
homebuyer education session with Neighborhood Housing Services of
Southern Nevada or another HUD-approved housing counseling agency.
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.
“We are ready to help families qualify for the Wells Fargo
NeighborhoodLIFT down payment assistance grants,” said Michelle Merced,
President of Neighborhood Housing Services of Southern Nevada. “Wells
Fargo’s investment will help make the Las Vegas Valley stronger.”
First launched in February 2012 in Los Angeles and Atlanta, LIFT
programs have helped create more than 13,000 homeowners in 49
communities, including 422 homeowners as a result of a NeighborhoodLIFT
in 2012, which was launched in Las Vegas and expanded to North Las
Vegas. A video about the NeighborhoodLIFT program is posted on Wells
Fargo Stories.
About Neighborhood Housing Services of Southern Nevada and
NeighborWorks America
Neighborhood Housing Services of Southern Nevada 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 240 nonprofits, located in every state, the
District of Columbia and Puerto Rico. Visit www.neighborworks.org,
or www.nwsn.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. 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 42 countries and
territories to support customers who conduct business in the global
economy. With approximately 269,000 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. News, insights and
perspectives from Wells Fargo are also available at Wells
Fargo Stories.