Omaha Homeownership to Get $3.9 Million Boost
NeighborhoodLIFT® program will offer
homebuyer education plus $15,000 down payment assistance grants for
eligible Douglas and Sarpy County homebuyers; special parameters for
veterans, military, teachers and first responders
OMAHA, Neb.–(BUSINESS WIRE)–Wells Fargo & Company (NYSE:WFC), NeighborWorks® America
and Family Housing Advisory Services (FHAS), Inc., today announced the NeighborhoodLIFT®
program will expand for Omaha with a $3.9 million commitment by
Wells Fargo to boost local homeownership.
“
The Omaha area is a special place to call home, and this investment
will help ensure that our residents have access to safe, high-quality
housing they can afford,” said Omaha Mayor Jean Stothert. “
We appreciate
the efforts of Wells Fargo, NeighborWorks America and their local
partners for bringing the NeighborhoodLIFT program to Douglas and Sarpy
counties to help put homeownership within reach for hundreds of
households.”
Free NeighborhoodLIFT event scheduled June 21–22
Interested homebuyers are encouraged to register beginning Monday, June
3, at www.wellsfargo.com/lift
to attend the free event scheduled on Friday, June 21, from 10 a.m. to 7
p.m. and on Saturday, June 22, from 9 a.m. to 2 p.m. at the Ramada
Plaza, located at 3321 South 72nd Street, Omaha. Walk-ins
also are welcome while grants are available. FHAS, GROW South Dakota and
Neighborhood Finance Corporation (NFC) will administer the $15,000
grants, determine eligibility and provide homebuyer and financial
education.
“
The NeighborhoodLIFT program is another example of our commitment to
Omaha and our efforts to build better communities through sustainable
homeownership,” said Kirk Kellner, Wells Fargo region bank president in
Nebraska. “
The program will help hardworking families and individuals
get on the path to achieve successful and sustainable homeownership.”
To reserve a $15,000 down payment assistance grant, eligible homebuyers
must be pre-approved for financing with an eligible lender to purchase a
home in Douglas or Sarpy counties and earn 80% or less of the area
median income, which is $68,800 for up to a family of four. Military
service members and veterans, teachers, law enforcement officers,
firefighters and emergency medical technicians may reserve down payment
assistance grants of $17,500 and earn up to 100% of the area median
income.
“
This innovative public-private collaboration will create 175 Omaha
homeowners,” said John Santner, regional vice president, Midwest Region,
for NeighborWorks America. “
The required homebuyer education classes
provided by certified professionals better prepare NeighborhoodLIFT
homebuyers to achieve their goal of sustainable homeownership.”
Approved homebuyers will have up to 60 days to finalize a contract to
purchase a home in Douglas or Sarpy counties and can obtain mortgage
financing from any participating lender. 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 people become homeowners with the support of
NeighborhoodLIFT homebuyer education and down payment assistance,” said
Teresa Hunter, executive director and chief executive officer of FHAS.
“
We are pleased to join Wells Fargo and NeighborWorks America 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 Omaha
NeighborhoodLIFT launch event that will provide in-person homeownership
counseling at no charge with a participating HUD-approved housing
counselor in Omaha. The homeownership counseling grant program is a
resource in addition to the homebuyer education required for a
NeighborhoodLIFT down payment assistance grant.
Overall, Wells Fargo has conducted 70 LIFT program events across the
U.S. since 2012, creating nearly 21,000 homeowners with a total
commitment of $456 million. A video about the NeighborhoodLIFT program
is posted on Wells
Fargo Stories.
About FHAS
FHAS
is an Omaha-based nonprofit whose mission is to improve the quality of
life and eliminate poverty through housing stability and financial
security. FHAS will work in partnership with GROW South Dakota and NFC
to administer the NeighborhoodLIFT program in the Omaha area.
About NeighborWorks America
NeighborWorks America is 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.nw.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 7,700
locations, more than 13,000 ATMs, the internet (wellsfargo.com) and
mobile banking, and has offices in 32 countries and territories to
support customers who conduct business in the global economy. With
approximately 262,000 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
Julie Fogerson, 208-570-3037
Julie.M.Fogerson@wellsfargo.com
@JulieFogersonWF
Stephanie
Grant, 760-317-6505
Stephanie.Grant2@wellsfargo.com
@SGrantWF
