Wells Fargo announced Monday it is partnering with NeighborWorks America and nonprofit organizations to bring down payment assistance to prospective homebuyers in Houston.
The bank is committing $6.1 million in housing assistance in the form of $15,000 grants to qualified home buyers in the city through the partnership.
NeighborWorks America and its network members Avenue, Fifth Ward CRC, and Tejano Center will administer the grants, determine eligibility and provide homebuyer education, according to a press release.
“The NeighborhoodLIFT program is another example of our commitment to Houston and our efforts to build better communities through sustainable homeownership,” said David Miree, Wells Fargo's Texas lead region president. “The program will help hardworking families and individuals get on the path to achieve successful and sustainable homeownership.”
This latest program expansion marks the 68th LIFT program since the program was first introduced in 2012. Wells Fargo and NeighborWorks created the program with the goal to local economic recovery in the aftermath of the housing crisis, boost sustainable homeownership and advance neighborhood revitalization.
“Houston is a special place to call home, and this investment will help our local community of hardworking Houstonians with big dreams for the future,” said Houston Mayor Sylvester Turner. “We appreciate the efforts of Wells Fargo, NeighborWorks America and its local affiliates to bring the NeighborhoodLIFT program to Houston again and help put homeownership within reach for hundreds of households.”