Wells Fargo (WFC) will introduce its NeighborhoodLIFT program to Miami, making Miami the sixth city to adopt the program intended to aid prospective buyers in areas with high inventories of houses on the market.

A five-year goal set at $300 million in mortgage loans emblazons the initiative.

"We are looking forward to collaborating with Wells Fargo, NeighborWorks America, and Neighborhood Housing Services of South Florida on this important sustainable housing effort,” said Miami Mayor Tomas Regalado.

The NeighborhoodLIFT program launches with an event on June 1-2 at the Miami Airport Convention Center, which will be open to homebuyers looking for down payment assistance.

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pdang@housingwire.com