Potential homeowners in New York's Brooklyn, Bronx and Queens boroughs will share $8.3 million of downpayment assistance from Wells Fargo
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Potential homeowners in New York’s Brooklyn, Bronx and Queens boroughs will share $8.3 million of downpayment assistance from Wells Fargo.
The lender has announced that its NeighborhoodLIFT program will be in New York from Nov. 3-4 offering $20,000 downpayment assistant grants to eligible borrowers.
“The NeighborhoodLIFT program is another example of our commitment to the greater New York City area and our efforts to building better communities through sustainable homeownership,” said Fred Bertoldo, Wells Fargo region bank president. “The program will help hardworking families and individuals get on the path to achieve homeownership and follows the 2013 New York/New Jersey CityLIFT program that created 352 homeowners.”
The New York launch is the 55th time the program has been operated in cities across the US and should add 350 new homeowners to the almost 15,000 already helped since 2012.
To be eligible, potential first-time buyers must earn below the local median income of around $95,400 for a single individual to around $103,050 for a family of five. They must also finalize a contract to buy within 60 days and commit to live in the home for at least five years.
“Wells Fargo’s homeownership investment will help New York City and the surrounding counties address our growing need for affordable housing,” commented Susan M. Ifill, Chief Executive Officer, Neighborhood Housing Services of New York City, Inc.
The lender has announced that its NeighborhoodLIFT program will be in New York from Nov. 3-4 offering $20,000 downpayment assistant grants to eligible borrowers.
“The NeighborhoodLIFT program is another example of our commitment to the greater New York City area and our efforts to building better communities through sustainable homeownership,” said Fred Bertoldo, Wells Fargo region bank president. “The program will help hardworking families and individuals get on the path to achieve homeownership and follows the 2013 New York/New Jersey CityLIFT program that created 352 homeowners.”
The New York launch is the 55th time the program has been operated in cities across the US and should add 350 new homeowners to the almost 15,000 already helped since 2012.
To be eligible, potential first-time buyers must earn below the local median income of around $95,400 for a single individual to around $103,050 for a family of five. They must also finalize a contract to buy within 60 days and commit to live in the home for at least five years.
“Wells Fargo’s homeownership investment will help New York City and the surrounding counties address our growing need for affordable housing,” commented Susan M. Ifill, Chief Executive Officer, Neighborhood Housing Services of New York City, Inc.
