Community Housing Partners Teams Up with Wells Fargo for NeighborhoodLIFT
Christiansburg, VA - February 4, 2019 - Community Housing Partners (CHP) announced today that it will once again be teaming up with Wells Fargo and NeighborWorks® America to boost homeownership opportunities in its service area. Wells Fargo recently announced it would be bringing the NeighborhoodLIFT® program to Washington, D.C. and Prince George’s County, Maryland with a $7.1 million commitment in homeownership administered through CHP.
In 2015, CHP successfully deployed a $4.1 million investment in Virginia Beach and Norfolk, Virginia through the Wells Fargo HomeLIFT® program that assisted 220 new homeowners. The Washington, DC – Prince George’s County NeighborhoodLIFT® is expected to create 270 new homeowners over the next 6-12 months through down payment assistance and homebuyer education.
“We have witnessed first-hand the type of impact that LIFT has on a community, and we are excited to bring this program to homebuyers in Washington, D.C. and Prince George’s County,” said Jake Powell, Director of Homeownership at Community Housing Partners.
Through NeighborhoodLIFT®, CHP will provide eligible home buyers with $20,000 to use toward down payment and closing costs on qualified purchases. First responders, military personnel, and teachers will be able to qualify for $22,500 in assistance. These funds will be forgiven after five-years, so long as the borrower remains in the home. To qualify, homebuyers must purchase a home in the Washington, D.C. or Prince George County limits and their total household income cannot exceed 100 percent of the area median income (AMI). A household size of one to four people could make no more than $117,200.
CHP has also partnered with MANNA, Inc, a local non-profit headquartered in D.C., to provide participants with homebuyer education and additional support services. “Education is a key component to the LIFT program,” Powell said. “We want ensure long-term success for each new homeowner we serve.”
The NeighborhoodLIFT® program will begin with a free Wells Fargo homebuyer event on Friday, Feb. 22 at 10 a.m. at the Washington Hilton (1919 Connecticut Ave. NW in Washington D.C.) Space for the free homebuyer launch event is limited. Walk-ins are welcome; however, pre-registration is encouraged to guarantee your chance to reserve a grant.
Prospective homebuyers can learn more about NeighborhoodLIFT® and register for the event at www.communityhousingpartners.org/lift or by calling (540) 260-9039.
About Community Housing Partners and NeighborWorks America
Founded in 1975, Community Housing Partners (CHP) is a 501(c)(3) not-for-profit organization, governed by a board, that provides housing opportunities and related services to low-income individuals and families across the southeastern and Mid-Atlantic United States. Its mission is to create homes and communities that are healthy, sustainable, and affordable. CHP's activities include real estate development, construction, energy contracting and training, asset management, property management, realty and homeownership, and comprehensive resident services. CHP is a chartered member of NeighborWorks America, a national organization that creates opportunities for people to live in affordable homes, improve their lives, and strengthen their communities. NeighborWorks America supports a network of more than 245 nonprofits, located in every state, the District of Columbia and Puerto Rico. Visit www.communityhousingpartners.org and www.neighborworks.org to learn more.
About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a diversified, community-based financial services company with $1.9 trillion in assets. Wells Fargo’s vision is to satisfy our customers’ financial needs and help them succeed financially. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, investment and mortgage products and services, as well as consumer and commercial finance, through 7,800 locations, more than 13,000 ATMs, the internet (wellsfargo.com) and mobile banking, and has offices in 37 countries and territories to support customers who conduct business in the global economy. With approximately 259,000 team members, Wells Fargo serves one in three households in the United States. Wells Fargo & Company was ranked No. 26 on Fortune’s 2018 rankings of America’s largest corporations. News, insights and perspectives from Wells Fargo are also available at Wells Fargo Stories.