Wells Fargo has established a new homeownership program that can make the dream of home ownership a lot closer to becoming a reality. The program, called NeighborhoodLIFT, is a collaboration with the City of Houston and NeighborWorks® America’s local charter member Avenue CDC.
Houston Mayor Annise Parker and Avenue CDC executive director Mary Lawler joined Wells Fargo Greater Houston Regional president, Glenn Godkin in a press conference on May 1, 2012 to highlight Wells Fargo’s NeighborhoodLIFTSM program — providing prospective homebuyers with the opportunity to determine if they qualify for $15,000 in down payment assistance and/or home and renovation financing grants.
NeighborhoodLIFT is designed to support sustainable homeownership and advance neighborhood stability.
According to Glenn Godkin, Wells Fargo greater Houston regional president, “… Homeownership is central to the success of a community… I’ve never seen a bank succeed in a community that is struggling. So if you can stabilize the neighborhoods and get families back in these homes… it lifts up the entire neighborhood. It changes not only that family, it changes generations to come — it changes the community, it changes the city. It’s good for all of us [and] it’s the right thing to do.”
The homeownership event will take place at the George R. Brown Convention Center, Hall B, on Friday and Saturday, May 11 and 12 and is open to anyone interested in buying and living in a home in the city of Houston.
As a precursor to the program, Wells Fargo will offer potential homebuyers a free bus tour of homes in surrounding Houston neighborhoods.
IMPORTANT THINGS TO REMEMBER:
What is the program? For a limited time, if eligible, you can receive up to $15,000 for down payment assistance for the purchase of a primary, owner-occupied residence in the city of Houston. The down payment assistance you receive from the program is fully forgivable after you live in the home for five years.
Who can qualify? The program is available if you are approved for home financing and your household income is equal to or less than 120 percent of the area median income. Whether this is your first home or you are ready to buy again, there are a number of homebuyer education requirements that must be completed prior to the home purchase.
How do you find more information? Don’t miss the NeighborhoodLIFT eventon May 11 and 12 to learn more about the down payment assistance program and determine if you’re eilgible. Walk-ins are welcome, but registration is strongly recommended in order to guarantee one-on-one meetings with homeowner assistance professionals.
For more information please visit: www.neighborhoodlift.com or call 1-866-858-2151.
