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The Wells Fargo NeighborhoodLIFT® Program

Buying a home with down payment assistance

Attending an upcoming event in your area may help make homeownership a real possibility

The NeighborhoodLIFT program

To support sustainable homeownership and help advance neighborhood stability, the Wells Fargo NeighborhoodLIFT program looks to the future by delivering down payment assistance and financial education to homebuyers in collaboration with NeighborWorks® America and local nonprofit organizations.


Attend an event

Learn about homeownership, the NeighborhoodLIFT program and see if you qualify for a grant.

Search Events


Find available grants

See areas where down payment assistance grants may be available.

Check Areas


Talk to a consultant

How the NeighborhoodLIFT program can help

  • Get help with your down payment. Apply for down payment assistance from local nonprofit groups, when the program is available in your area.
  • Find out if you’re ready to buy a home. Financial education is available to help buyers prepare for homeownership.


Watch a video of a NeighborhoodLIFT event

Transcript:

[Music]

Everyone is in seek of the dream of homeownership.

We have found that one of the key barriers is down payment assistance.

Today, we are at our LIFT event here in Philly.

Do you have an appointment today?

They come in. They speak with our registration desk. The registration desk then brings them to the scheduling desk. The scheduling desk is to meet with a home mortgage consultant. That is to get the first mortgage approval because in order to receive the LIFT down payment assistance grant, a customer does have to be pre-approved for a first mortgage.

Now, that first mortgage does not have to come through Wells Fargo. It can come through another lender, but that other lender does have to be approved by NeighborWorks nonprofit local affiliate.

On our website, they will receive a what to bring. Things like their tax statements, W-2 forms. We want to be able to look at their income and also their assets.

While customers are waiting at the LIFT event, we have various booths and activities, things for them to do. We have a kid zone available for kids to watch a movie. NeighborWorks America and their affiliate is here to answer any questions and they will work with customers, whether if it’s credit obstacles that they need to overcome, they will stick with the customer and work with them.

Borrowers who go through our process, homebuyer education and counseling, are a third less likely to experience delinquency in their first 24 months of home purchase.

We're first-time homebuyers, and we don't really know what we're doing, so it will be really helpful to have get to-- go to classes.

We educate them on what a realtor's role is, what a lender's role is. We talk about home insurance, fair housing, home inspection. So we educate them on a wide variety of areas.

Once a customer secures a reservation for the LIFT down payment assistance dollars, they will receive a reservation letter. So within that 60 days, they must have a signed purchase contract on a property.

It's actually that exact same weekend, we found this house, and so we knew that would kind of give us a little boost. So we’re really excited about it.

Customers that receive that reservation letter leave here excited, ecstatic about the program because that's gonna make a change in their lives.

I've got the help that I needed. I’m excited about going and finding my dream home.

Wells Fargo is committed to strengthening communities across the country. So if you hear that the LIFT event is coming to your market, I encourage you to come to the LIFT event to hear about the advantages of homeownership.

Everyone that I personally spoke to regarding loan process was very valuable because they provided so much information, what the next steps are. Just really thoroughly explained the entire process.

And at every single step of the way holding your hand, it’s-- it’s really cool, and it kinda gives me some more faith in banks.

The face-to-face experience was incredible. I mean, to actually speak with another human being who seems to just-- already looks at you with caring eyes like we’re here to help, It made all the difference in the world.

[Music]

NeighborhoodLIFT program details

What steps are involved?

These steps serve as a general example of the process, which may differ based on individual circumstances. Your local representative will provide more detailed steps when you connect.

Step 1: Get a preapproval — you’ll know your estimated price range before you search for a home.

Step 2: Take homebuyer education classes — learn what you need to know, from finding and financing a home to managing the financial responsibilities of homeownership, and more.

Step 3: Search for a home — work with a real estate agent to find a home. Your preapproval will help your agent show you homes in your price range.

Step 4: Sign a purchase contract — after you’ve found a home and made an offer, put it in writing.

Step 5: Qualify for the program — now you’re ready to see if you qualify for down payment assistance grants.

Step 6: Move forward with home financing — work with your lender through the mortgage approval process that takes you to closing.

Step 7: Close on your new home — celebrate the final step, when you become a homeowner.

Can I apply?

You can apply for the program if you are approved for home financing and you meet the income restrictions. 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.

What type of home can I purchase with the grants?

The grants must be used to purchase a primary, owner-occupied residence in the approved area.

If I don’t see an event in my area, does that mean grants are not available?

Down payment assistance may still be available. Go to “Check Areas” to see which areas still have grants available. If your city is still listed, contact the local nonprofit to start the process.