Wells Fargo (WF) and Neighborhood Housing Services of Greater Cleveland announced the launch of the ClevelandLIFT program, a $4 million local effort to help the housing market recovery.

The program is available to eligible homebuyers, allowing them to reserve a $15,000 downpayment assistance grant for a home purchase.

Additionally, applicants must meet certain income criteria.

"Homeownership matters because it increases the economic, educational and healthy well-being of our city,” said Lou Tisler, executive director of NHS. “CityLIFT program is an opportunity to move the needle on all three of these bedrocks for success.”