MIAMI â€“ March 2, 2016 â€“ A Wells Fargo partnership with NeighborWorks America has allocated downpayment grants to homeowners in 40 communities throughout the U.S. through its LIFT program, with plans to expand further. So far, the program has helped more than 11,000 homeowners with downpayment assistance.
In Florida, four metro areas are part of the pilot downpayment program: Jacksonville, Miami, Orlando and Tampa. A list of the 40 cities and the local nonprofits that participate is posted online. The Neighborhood LIFT program also will be introduced in San Diego County from March 4 through 5 and in Philadelphia from April 1 to 2.
Wells Fargo says that it paid $300 million in LIFT programs that provide downpayment assistance grants, program support and homebuyer education. The program was first launched in 2012 to boost sustainable homeownership and further advance neighborhood revitalization.
“The reaction we receive from home buyers receiving a downpayment assistance grant is true excitement,” says Kim Smith-Moore, LIFT programs national manager with Wells Fargo Home Mortgage. “Having completed homebuyer education, these 11,000 families and individuals are better prepared to be successful and sustainable homeowners over time.”
Source: “Wells Fargo LIFT Programs Help More Than 11,000 Home Owners Get Down Payments,” HousingWire (Feb. 29, 2016)
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