The LIFT program, Wells Fargo partnership with Neighbor Works America has allocated down payment grants to homeowners in 40 communities throughout the U.S. So far the program has helped more than 11,000 homeowners with down payment assistance.
In Florida, there are four metro areas that are part of the pilot down payment program; they are Jacksonville, Miami, Orlando and Tampa. A list of the 40 cities and the local nonprofits that participate is posted on line. The Neighborhood LIFT program also will be introduced in San Diego County from March 4 through 5 and in Philadelphia from April 1 to 2nd.
Some of the Locations
Albuquerque, Atlanta, Bakersfield, Baltimore, Charlotte, Chicago, Cincinnati, Cleveland, Dallas, Denver, Detroit, Houston, Indianapolis, Kansas City, Las Vegas, Milwaukee, Minneapolis, New Orleans, New York/New Jersey, Phoenix, Portland, Sacramento, Salt Lake City, San Antonio, San Diego, St. Louis, Tucson, Washington DC.
How it works
The Wells Fargo Foundation provides grants for down-payment assistance through NeighborWorks America to local NeighborWorks organizations and/or other nonprofits. At a two-day launch event in each city, potential homebuyers learn if they qualify for the down-payment assistance program. Also at the event, local nonprofits enroll homebuyers in required pre-purchase education and participants have the opportunity to tour available neighborhood properties.
Wells Fargo says that it paid $30 million in LIFT programs that provide down payment assistance grants, program support and homebuyer education. The program was first launched in 2012 to boost homeownership and further advance neighborhood revitalization. The reaction from home buyers receiving down payment assistance grants has been truly exciting.
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