Kansas City, Mo. Homeownership to Get Boost With $5.7 Million NeighborhoodLIFT Program
Jul. 09, 2018
KANSAS CITY, Mo.--(BUSINESS WIRE)--Jul 9, 2018--Wells Fargo & Company (NYSE:WFC), NeighborWorks ® America and its network member, Westside Housing Organization, today announced the NeighborhoodLIFT ® program will expand to the Kansas City, Mo. area with a $5.7 million commitment by Wells Fargo to boost homeownership in the counties of Cass, Clay and Jackson.
“On behalf of my constituents in the 5 th District of Missouri, we commend Wells Fargo, NeighborWorks America, Westside Housing and Beyond Housing for working together to bring this innovative program forward,” said Congressman Emanuel Cleaver. “NeighborhoodLIFT will put hundreds of our residents on the path to homeownership.”
The event in Kansas City is Wells Fargo’s 61 st LIFT program launch conducted in collaboration with NeighborWorks America and its network members through NeighborhoodLIFT and other LIFT programs. The 2018 NeighborhoodLIFT program for the Kansas City area follows the 2014 Kansas City NeighborhoodLIFT program that created 308 homeowners by offering homebuyer education plus $15,000 down payment assistance grants as a result of a $6.3 million commitment by Wells Fargo.
“NeighborhoodLIFT has proven to be a catalyst to put homeownership within reach for our community’s families, veterans, teachers and first responders,” Kansas City Mayor Sly James said. “We welcome this innovative effort that will provide our residents with access to even more affordable housing options in our community.”
Registration open for free event in Kansas City July 27–28
Interested homebuyers may register now to attend the free Wells Fargo NeighborhoodLIFT event July 27 from 10 a.m. to 7 p.m. and July 28 from 9 a.m. to 2 p.m. at the Kansas City Convention Center, 301 W. 13th St., Kansas City, Mo. 64105. Walk-ins are also available while the $15,000 grants are available for reservation. To learn more about the eligibility requirements and documents needed to apply for a down payment assistance grant, visit www.wellsfargo.com/lift. Participating homebuyers can obtain mortgage financing from any participating lender. Westside Housing will determine eligibility and Beyond Housing will administer the down payment assistance grants.
“The NeighborhoodLIFT program is another example of our commitment to Kansas City,” said Kirk Kellner, Wells Fargo region bank president for Missouri. “The effort will contribute to strengthening communities by helping hardworking families and individuals get on the path to achieve successful and sustainable homeownership.”
To be eligible, annual incomes must not exceed 80 percent of the local area median income, which is about $64,000 for up to a family of four in Kansas City, Mo. In addition, there are special parameters for veterans and service members, teachers, law enforcement officers, firefighters and emergency medical technicians who may earn up to 100 percent of the local area median income, which is about $80,000, to reserve $17,500 down payment assistance grants within eligibility requirements. Approved homebuyers will have up to 60 days to finalize a contract to purchase a home in Cass, Clay or Jackson counties.
“This innovative public-private collaboration will create more than 300 homeowners,” said John Santner, regional vice president, Midwest region, NeighborWorks America. “The required homebuyer education classes provided by certified professionals better prepare NeighborhoodLIFT homebuyers to achieve their goal of sustainable homeownership.”
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 are ready to assist Kansas City-area families and provide homebuyer education and down payment assistance to help them achieve successful and sustainable homeownership,” said Gloria Ortiz-Fisher, executive director of Westside Housing Organization. “The NeighborhoodLIFT program offers an affordable and achievable way to realize homeownership goals.”
Since February 2012, LIFT programs have helped create nearly 18,000 homeowners in 60 communities. A video about the NeighborhoodLIFT program is posted on Wells Fargo Stories.
About Westside Housing Organization, Beyond Housing and NeighborWorks America
Westside Housing Organization and Beyond Housing 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.westsidehousing.org, www.beyondhousing.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, investments, mortgage, and consumer and commercial finance through 8,200 locations, 13,000 ATMs, the internet (wellsfargo.com) and mobile banking, and has offices in 42 countries and territories to support customers who conduct business in the global economy. With approximately 265,000 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.
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SOURCE: Wells Fargo & Company
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PUB: 07/09/2018 02:45 PM/DISC: 07/09/2018 02:45 PM