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That's how much the NeighborhoodLIFT® down payment assistance program can provide to you in down payment assistance if you are looking to buy a home in the San Francisco Bay Area, meet the requirements, and are able to reserve the funds.
Properties must be in the counties of:
Select the area in which you're looking to buy a home below to see the maximum income limits eligible for this down payment assistance program.* If more than one person will be on the mortgage loan, the total of your combined incomes must be within the limit.
You must be approved for a mortgage loan by a NeighborhoodLIFT program-approved lender before applying for the NeighborhoodLIFT down payment assistance program. Your new home must be your only home. If you currently own a home, it must be sold prior to closing.
In order to receive down payment assistance, you must complete homebuyer education with Community Housing Development Corporation or a qualified homebuyer education provider. A list of providers can be found here.
The down payment assistance program is only for owner-occupied primary residences. Most property types are eligible for down payment assistance.
Eligible mortgage loans must be fixed rate and scheduled to be paid off within 30 years.
To qualify for NeighborhoodLIFT down payment assistance, complete a homebuyer education program from a qualified provider.
Select one of the following ways to get preapproved:
Have a local Wells Fargo Home Mortgage consultant contact you
Find a Wells Fargo Home Mortgage consultant near you to help
Apply online now for a Wells Fargo mortgage
Find NeighborhoodLIFT program-approved lenders at Community Housing Development Corporation
Once you've completed the education and preapproval process, you can request approval for NeighborhoodLIFT down payment assistance.
Community Housing Development Corporation will notify eligible homebuyers about their next steps. Please note, funds are limited and all requests for funds may not be approved.
After you've received your LIFT Qualification Reservation letter, it's time to find your home.
Once you find a home, finalize your mortgage approval with the help of your lending representative
Work with your lender to complete the mortgage process and coordinate with Community Housing Development Corporation
Apply for $25,000 in down payment assistance from Community Housing Development Corporation.
ApplySend us an email at LIFT@wellsfargo.com
Have a local Wells Fargo Home Mortgage consultant contact you
Find a Wells Fargo Home Mortgage consultant near you to help
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* These income limits are effective as of July 6, 2021 and are set by the Federal Financial Institutions Examination Council (FFIEC). They are subject to change each year or at any time that the FFIEC deems appropriate.
1. Research conducted using credit bureau data provided by Experian has shown that homebuyers who receive NeighborWorks homebuyer education and counseling are 30 percent less likely to get into trouble with their mortgage, making homeownership more sustainable over time (Mayer and Temkin, 2013).
Customers can work with any NeighborhoodLIFT program-approved lender for their home financing needs.
The amount of down payment assistance varies by area.
Combined income for all borrowers on the loan cannot exceed the program income limits.
Down payment assistance cannot be used to purchase bank-owned properties managed by Wells Fargo Premiere Asset Services.
Customers must complete an approved homebuyer education program prior to requesting down payment assistance funds.
The NeighborhoodLIFT® program is a collaboration between Wells Fargo Bank, N.A., Wells Fargo Foundation, and NeighborWorks® America, an independent nonprofit organization.
Employees of Wells Fargo and NeighborWorks America are not eligible to participate in the LIFT programs. This limitation also applies to an employee's immediate family, including spouses and dependent children, where the employee would have beneficial ownership of the property purchased using the assistance.
