Wells Fargo Commits $5 Million to Boost Seattle-King County Homeownership
Eligible homebuyers can apply for matching down payment assistance
grants up to $7,500 this July 8-9 at the Westin Hotel Seattle
SEATTLE–(BUSINESS WIRE)–Wells Fargo & Company (NYSE:WFC), NeighborWorks® America
and HomeSight, a NeighborWorks network member, today announced the
upcoming King County NeighborhoodLIFT® program that
includes a $5 million commitment by Wells Fargo to help boost local
homeownership and revitalize neighborhoods.
“This effort will put homeownership within reach for many families in
Seattle and King County,” said Patrick Yalung, Wells Fargo regional
president for Washington. “Combined with down payment assistance and
homebuyer education, NeighborhoodLIFT will make the dream of
homeownership a reality for hundreds of families.”
Registration now open for July 8-9
NeighborhoodLIFT event
Interested homebuyers can register now at www.NeighborhoodLIFT.com
or by calling (866) 858-2151 for the free event on July 8-9 at the
Westin Hotel Seattle when eligibility will be determined for an
opportunity to reserve a matching down payment assistance grant ranging
from $2,500 up to $7,500. Pre-registration is strongly recommended,
although walk-ins will be welcome while funds are available. The event
includes a Wells Fargo Affordable Home Tour® viewing
center, where attendees can preview local homes available for purchase.
Matching down payment assistance grants will be based on the eligible
homebuyer’s contribution. Annual incomes must not exceed 100 percent of
the local area median income, which in King County is about $90,300 for
a family of four, with income maximums varying depending on family size
and type of loan.
Homebuyers must complete an eight-hour homebuyer education session with
HomeSight or another HUD-approved housing counseling agency and will
have up to 60 days to finalize a contract to purchase a home in King
County.
“NeighborWorks America and Wells Fargo’s collaboration has already
helped thousands of homebuyers achieve homeownership,” said Gary Wolfe,
regional vice president, Western Region, NeighborWorks America. “The
required homebuyer education classes provided by certified professionals
are proving to be effective in helping people prepare for sustainable
homeownership.”
To reserve the full grant amount, LIFT
program participants must commit to live in the home for three years.
Wells Fargo NeighborhoodLIFT grants may be combined with other down
payment assistance programs to provide additional financial benefit.
Homebuyers may obtain mortgage financing from any qualified lender.
“This collaboration between NeighborWorks America and Wells Fargo will
make the difference in helping hundreds achieve affordable and
sustainable homeownership,” said Tony To, executive director of
HomeSight. “We are prepared to connect local homebuyers to
NeighborhoodLIFT down payment assistance grants and homebuyer education
support services we provide.”
Since February 2012, LIFT programs combined have helped create more than
11,500 homeowners in 43 communities. A video about LIFT programs is
posted on Wells
Fargo Stories.
About NeighborWorks Home Partners and NeighborWorks America
HomeSight 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.HomeSightwa.org
to learn more.
About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a diversified, community-based
financial services company with $1.8 trillion in assets. Founded in 1852
and headquartered in San Francisco, Wells Fargo provides banking,
insurance, investments, mortgage, and consumer and commercial finance
through 8,800 locations, 13,000 ATMs, the internet (wellsfargo.com) and
mobile banking, and has offices in 36 countries 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. Wells Fargo perspectives are also available at Wells
Fargo Blogs and Wells
Fargo Stories.
Contacts
Wells Fargo & Company
Ruben Pulido, 415-623-7762
ruben.pulido@wellsfargo.com
Chris
Hammond, 415-310-9152
Chris.l.Hammond@wellsfargo.com
