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Homeownership in Dallas-Fort Worth to get $6.6 million boost

Posted Aug. 29, 2019

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a family walks down a neighborhood street
Wells Fargo has conducted 73 LIFT program events across the U.S. since 2012, creating nearly 22,000 homeowners.

Wells Fargo & Co. launched the NeighborhoodLIFT program in the Dallas-Fort Worth area to boost local homeownership.

The $6.6 million commitment by the Wells Fargo Foundation will assist 325 new homeowners in the city of Dallas and Tarrant County by offering homebuyer education plus $15,000 down payment assistance grants.

“Through the NeighborhoodLIFT program, we are able to build upon our commitment to Dallas-Fort Worth by revitalizing communities through sustainable homeownership,” said Gary Hudson, Wells Fargo Greater Fort Worth region bank president. “The program will provide hardworking families and individuals the opportunity to achieve successful and sustainable homeownership.”

Interested homebuyers are encouraged to register beginning Sept. 3 to attend a free event scheduled for Sept. 20-21 at the Fort Worth Convention Center, 1201 Houston St. Business & Community Lenders of Texas will administer the $15,000 grants, determine eligibility and provide homebuyer and financial education.

To reserve a $15,000 down payment assistance grant, eligible homebuyers must be preapproved for financing with an eligible lender to purchase a home in either the city of Dallas or in Tarrant County. Eligible homebuyers can earn up to 80% of the area median income, which is $66,500 in Dallas and $60,800 in Tarrant County for a family of up to four. Military service members and veterans, teachers, law enforcement officers, firefighters, and emergency medical technicians may reserve down payment assistance grants of $17,500 and earn up to 100% of the area median income.

Wells Fargo has also committed $325,000 for up to 650 consumers to receive complimentary face-to-face homeownership counseling, a resource in addition to the homebuyer education required for a NeighborhoodLIFT down payment assistance grant.

Wells Fargo has conducted 73 LIFT program events across the U.S. since 2012, creating nearly 22,000 homeowners with a total commitment of $475 million. View a video about the NeighborhoodLIFT program.

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