New Program Provides Up to $15K Towards Down Payment for Qualified Home Buyers
Plantone in Las Vegas, NV recently announced that they are working with
Wells Fargo to help potential Las Vegas home buyers qualify for a
special program that can provide home buyers with up to $15,000 in down
payment assistance to purchase qualifying residential real estate. This
new program, called Neighborhood LIFT, is sponsored by two non-profit
organizations... the Wells Fargo Foundation and NeighborWorks America.
The down payment assistance provided by the program is forgiven at the
rate of 20% per year for every year that the home buyers remain in the
property. This means that the down payment assistance is fully forgiven
after 5 years of residency in the home.
In order to qualify for the program, applicants must meet certain qualifications and the home itself must also qualify. Team Plantone has been working closely with the local program representatives from Wells Fargo to develop a plan for helping interested home buyers qualify for the LIFT plan and find their perfect home that also meets the LIFT criteria.
Qualified applicants must have a household income that does not exceed 120% of Area Median Income (AMI) adjusted for family size. Applicants DO NOT need to be first time home buyers, but if the applicant owns a home already, that home must be sold prior to closing. There are also several requirements limiting the properties that can be purchased using Neighborhood LIFT funds. Team Plantone is working with Wells Fargo to help potential participants in the LIFT program find suitable properties.
Team Plantone and Wells Fargo are offering this service free of charge to any interested home buyers in the Las Vegas area. If you are interested in learning more about the Neighborhood LIFT program or applying for down payment assistance, please contact Team Plantone for more information.