As a first time home buyer, you may think you’ve only got a handful of financing options to choose from when selecting your first property. However, there are actually several options to choose
Wells Fargo Brings Back NeighborhoodLIFT
Good news for those wanting to become homeowners. For the second year in Colorado, Wells Fargo is offering home buying assistance to more than 200 families through the NeighborhoodLIFT program. NeighborhoodLIFT provides home buying assistance grants of up to $15,000 to people who typically earn about 80 percent of the median income level in Denver, Adams Jefferson, Arapahoe and Douglas counties.
According to Wells Fargo officials, the program, which was launched in 2012, provides grants for low- and moderate-income people across the country who otherwise would qualify for a home loan but cannot meet rising home prices.
More than 50 NeighborhoodLIFT programs have been created, including a 2014 pilot program in Denver. This year, the program in Colorado is expanding across the metro area and is specifically reaching out to teachers, first responders, veterans and active duty military.
Wells Fargo is implanting the program with a $4.8 million investment in collaboration with the nonprofit NeighborWorks America and the Westminster-based Community Resources and Housing Development Corporation. The money will be divided among about 250 people trying to buy a home in the five counties.
Wells Fargo reps say they are very excited to see the launch and roll out of the NeighborhoodLIFT program, noting that funding availability has decreased in Adams County for homeowners over the past several years, and this program gives them another option when it comes to down payment assistance programs offered in our communities.
Denver’s pilot NeighborhoodLIFT program in 2014 encompassed a $5.65-million commitment that provided $4.5 million in grants for home buyers — 252 people and families purchased homes.
People interested in applying for the program should go to the NeighborhoodLIFT informational event Sept. 8-9 at the Denver Marriot Tech Center to see if they qualify. The event includes homebuyer education and credit counseling sessions provided by non-profits.
While inventory in Denver is limited, assistance programs like this make owning a home more achievable for buyers. If you’re interested in taking a look at what Denver has to offer, contact Metrowest – we’d love to show you around!
Ray and Carla have been working as a team since 1995. Carla’s extensive knowledge of the Denver area real estate market not only includes over 35 years as a Real Estate Broker Associate but also in....
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