September 4, 2012 (Chris Moore)
The Minneapolis/St. Paul area has been chosen by Wells Fargo & Company to become the tenth market in the nation to join the bank’s NeighborhoodLift pilot program designed to help communities attract qualified, prospective homebuyers to neighborhoods struggling with high inventories of unsold homes.
Minneapolis/St. Paul joins Los Angeles, Atlanta, Phoenix, Las Vegas, Houston, Miami, Tampa, Orlando and Jacksonville as a participant in the program based on the city’s high concentrations of homeowners, foreclosures, delinquencies, and overall housing inventory.
Wells Fargo’s five year goal in Minneapolis/St. Paul is to generate a total of $1.9 billion in mortgage purchase loans between the two cities which includes a $9 million investment the bank is making this year for down payment assistance grants and homebuyer support programs that help consumers achieve successful, sustainable home ownership.
Prospective home buyers can apply for down payment assistance grants of up to $15,000 per homebuyer through the Wells Fargo foundation.
A two day NeignborhoodLift event is being held on September 7th and 8th at the Minneapolis Convention Center from 10:00 a.m. to 7:00 p.m. on both days. Similar two day events were held in Los Angeles, Atlanta, Phoenix, Las Vegas, Houston, Miami, Tampa, Orlando and Jacksonville have helped create 263 new homeowners with another 244 in the process of closing on a home.
At the event, prospective home buyers can apply for the down payment assistance and participate in homebuyer education sessions and tours of residential properties for sale in the Minneapolis/St. Paul market.
The address for the event is:
Minneapolis Convention Center
1301 Second Ave South
Minneapolis/St. Paul, MN 55402
Walk-ins are welcome, but registration is strongly recommended in order to guarantee the ability to meet one-on-one with a professional. You can register online here.
For a list of what documents to bring that will help you when you meet an on-site professional, click here.
For any questions that you may have about the event, please call 1-866-858-2151, M-F, 8 am to 5 pm CT.
Tags: Wells Fargo, NeighborhoodLift, Minneapolis/St. Paul, mortgage purchase loans, homebuyers, down payment assistance, sustainable home ownership