New Mexico Homeownership to Get $4.6 Million Boost

Wells Fargo & Company (NYSE:WFC), NeighborWorks^® America and its network member, Homewise, today announced the NeighborhoodLIFT^® program will expand for all 33 counties in the state of New Mexico with a $4.6 million commitment by Wells Fargo to boost homeownership.

“This investment by Wells Fargo to expand NeighborhoodLIFT throughout the state of New Mexico will make a meaningful difference for many families,” said Rio Rancho Mayor Greggory D. Hull. “New Mexico is a wonderful place to live, and I am thankful to Wells Fargo, NeighborWorks and Homewise for working together to expand this innovative program for our community.”

The 2018 New Mexico NeighborhoodLIFT program follows a similar LIFT event in 2015 that created 221 homeowners in Albuquerque, N.M., by offering homebuyer education plus down payment assistance grants as part of a $4.7 million commitment by Wells Fargo. Overall, Wells Fargo has conducted 58 LIFT program events in the U.S. since 2012 that have created more than 17,550 homeowners.

Registration now open for homebuyer event in Albuquerque, N.M., June 1–2

The Wells Fargo NeighborhoodLIFT program will begin with a free event June 1–2 from 10 a.m. to 7 p.m. at the Albuquerque Convention Center, located at 401 2nd St. NW in Albuquerque. To learn more about the eligibility requirements and to register, visit www.wellsfargo.com/lift or call [phone]. Pre-registration is strongly recommended.

At the event, the first 100 homebuyers who participate each day will have an opportunity to reserve a $100 gift voucher to be awarded upon completion of homebuyer education. In addition, prospective homebuyers may participate in financial education sessions at the homebuyer event. Participating homebuyers can obtain mortgage financing from any participating lender, and Homewise will determine eligibility and administer the down payment assistance grants.

“The NeighborhoodLIFT program is another example of our commitment to New Mexico and our efforts to build better communities through sustainable homeownership,” said David Hockmuth, Wells Fargo New Mexico region bank president. “The program will help hardworking families and individuals get on the path to achieve successful and sustainable homeownership.”

To be eligible, annual incomes must not exceed 80 percent of the local area median income in the county where the home is being purchased. In addition, there are special parameters for veterans and service members, teachers, law enforcement officers, firefighters and emergency medical technicians who may reserve $10,000 down payment assistance grants within eligibility requirements including earning up to 100 percent of the area median income.