Houston Homeownership to Get $6.1 Million Boost

NeighborhoodLIFT® program will offer
homebuyer education plus $15,000 down payment assistance grants for
eligible Houston homebuyers; special parameters for veterans, military,
teachers and first responders

HOUSTON–(BUSINESS WIRE)–lt;a href=”https://twitter.com/hashtag/Houston?src=hash” target=”_blank”gt;#Houstonlt;/agt;–Wells Fargo & Company (NYSE:WFC), NeighborWorks® America
and its local network members today announced the NeighborhoodLIFT®
program
will expand for Houston with a $6.1 million commitment by
Wells Fargo to boost local homeownership. NeighborWorks America network
members Avenue, Fifth Ward CRC and Tejano Center will administer the
$15,000 down payment assistance grants, determine eligibility and
provide homebuyer education.

“Houston is a special place to call home, and this investment will help
our local community of hardworking Houstonians with big dreams for the
future,” said Mayor Sylvester Turner. “We appreciate the efforts of
Wells Fargo, NeighborWorks America and its local affiliates to bring the
NeighborhoodLIFT program to Houston again and help put homeownership
within reach for hundreds of households.”

The 2019 Houston NeighborhoodLIFT program follows the 2012 program that
created 422 homeowners with a $9 million philanthropic commitment by
Wells Fargo. Overall, Wells Fargo has conducted 68 LIFT program events
across the U.S. since 2012, creating more than 20,000 homeowners.

Free NeighborhoodLIFT event scheduled March 22–23

Interested homebuyers are encouraged to register beginning Monday, March
4 at www.wellsfargo.com/lift
to attend the free event scheduled on Friday, March 22, from 10 a.m. to
7 p.m. and on Saturday, March 23, from 9 a.m. to 2 p.m. at the Crowne
Plaza Reliant Park, located at 8686 Kirby Dr., Houston. Walk-ins also
are welcome while grants are available.

“The NeighborhoodLIFT program is another example of our commitment to
Houston and our efforts to build better communities through sustainable
homeownership,” said David Miree, Wells Fargo Texas lead region
president. “The program will help hardworking families and individuals
get on the path to achieve successful and sustainable homeownership.”

To be eligible to reserve a $15,000 down payment assistance grant,
annual incomes must not exceed 80 percent of the local area median
income in Houston, which is about $59,900 for up to a family of four. In
addition, there are special parameters for eligible military service
members and veterans, teachers, law enforcement officers, firefighters
and emergency medical technicians, who can earn up to 100 percent of the
area median income, which is about $74,900 for up to a family of four in
Houston, and may obtain $17,500 down payment assistance grants.

Participating homebuyers can obtain mortgage financing from any
participating lender. Approved homebuyers will have up to 60 days to
finalize a contract to purchase a home in the city of Houston.

“This innovative public-private collaboration will create more than 290
Houston homeowners,” said Lisa Hasegawa, western region vice president
with NeighborWorks America. “The required homebuyer education classes
provided by certified professionals better prepare NeighborhoodLIFT
homebuyers to achieve their goal of sustainable homeownership.”

Approved homebuyers must be approved for home financing with an eligible
lender and be in contract to purchase a home in the city of Houston. To
reserve the full grant amount, participants buying a primary residence
with the NeighborhoodLIFT program must commit to live in the home for
five years.

“We’re ready to help more families become homeowners with the support of
NeighborhoodLIFT homebuyer education and down payment assistance,” said
Mary Lawler, executive director of Avenue. “We are pleased to join Wells
Fargo, NeighborWorks America and our local partners to make
homeownership more affordable, achievable and sustainable.”

In addition, Wells Fargo has committed $325,000 for up to 650 consumers
to receive complimentary face-to-face homeownership counseling.
Interested homebuyers can receive a voucher at the Houston
NeighborhoodLIFT launch event that will provide in-person homeownership
counseling at no charge with a participating HUD-approved housing
counselor in Houston. The homeownership counseling grant program is a
resource in addition to the homebuyer education required for a
NeighborhoodLIFT down payment assistance grant.

A video about the NeighborhoodLIFT program is posted on Wells
Fargo Stories
.

About NeighborWorks America and its network members

Avenue, Fifth Ward CRC and Tejano Center for Community Concerns are
chartered members 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 245 nonprofits, located in every state,
the District of Columbia and Puerto Rico. Visit www.avenuecdc.org,
www.fifthwardcrc.org,
www.tejanocenter.org
or www.neighborworks.org
to learn more.

About Wells Fargo

Wells Fargo & Company (NYSE: WFC) is a diversified, community-based
financial services company with $1.9 trillion in assets. Wells Fargo’s
vision is to satisfy our customers’ financial needs and help them
succeed financially. Founded in 1852 and headquartered in San Francisco,
Wells Fargo provides banking, investment and mortgage products and
services, as well as consumer and commercial finance, through 7,800
locations, more than 13,000 ATMs, the internet (wellsfargo.com) and
mobile banking, and has offices in 37 countries and territories to
support customers who conduct business in the global economy. With
approximately 259,000 team members, Wells Fargo serves one in three
households in the United States. Wells Fargo & Company was ranked No. 26
on Fortune’s 2018 rankings of America’s largest corporations. News,
insights and perspectives from Wells Fargo are also available at Wells
Fargo Stories
.

Contacts

Ty Morrison, 713-319-1752
[email protected]
@TyMorrisonWF

Stephanie Grant, 760-317-6505
[email protected]
@SGrantWF

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