Twin Cities will get a $5 million infusion of financial support from Wells Fargo to help working families and individuals become homeowners.
Wells Fargo & Company (NYSE: WFC), NeighborWorks® America and its network member NeighborWorks Home Partners will hold a press conference on May 10 in the Twin Cities to officially announce the 2016 NeighborhoodLIFT® program for Minneapolis and St. Paul.
The press conference will be the official kick-off to the 2016 NeighborhoodLIFT program expansion, a $5 million commitment by Wells Fargo to help boost homeownership in Minneapolis and St. Paul.
“Making homeownership more affordable will help hard-working families and individuals achieve homeownership and strengthen Twin Cities neighborhoods,” said Joe Ravens, Wells Fargo’s Community Banking Minnesota regional president. “While mortgages are available at relatively low interest rates, the NeighborhoodLIFT program can help families overcome the barrier of coming up with a sufficient down payment to buy a home.”
The NeighborhoodLIFT program is the single largest corporate philanthropic effort investment by Wells Fargo. Wells Fargo first launched the NeighborhoodLIFT program in the Twin Cities in 2012 which created 422 homeowners through homebuyer education and down payment assistance grants.
Wells Fargo has committed more than $292 million to LIFT programs with 42 homebuyer events in communities across the United States to support the revitalization of communities.
The 2016 Twin Cities NeighborhoodLIFT program is estimated to create 450 additional homeowners with matching down payment assistance grants up to $7,500 for eligible homebuyers. Interested homebuyers will have an opportunity to attend a free homebuyer event on June 10-11 in Minneapolis to determine eligibility and reserve matching down payment assistance grants ranging from $2,500 up to $7500.
Registration will open in early May at www.NeighborhoodLIFT.com where homebuyers can learn more about the matching down payment assistance program and eligibility requirements.
About NeighborWorks Home Partners and NeighborWorks America
NeighborWorks Home Partners 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 Error! Hyperlink reference not valid.www.neighborworks.org or www.nwhomepartners.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.