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Get 15,000 Towards the Purchase of a Home

  


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Category: Housing
Get 15,000 Towards the Purchase of a Home


Miami,Orlando,Jacksonville, and Tampa are the first of Florida cities to launch a program, which includes up to $15,000 in down payment assistance grants per qualified homebuyer. Includes five-year goal of $300 million in mortgage loans for Miami homebuyers City of Miami Initiative includes a home mortgage lending goal of a total of $1.75 billion over five years in Miami, Tampa, Orlando, and Jacksonville. The program was created to help communities overcome the dual challenge of high inventories of unsold homes while providing assistance for prospective buyers. Wells Fargo is committing $30 million in the state of Florida to fund the program that will help hundreds of residents of four cities, including Miami, become homeowners. In Miami, the program includes a five-year goal of $300 million in mortgage purchase loans by Wells Fargo, and a $9 million investment in down payment assistance grants and homebuyer support programs that help consumers achieve successful, sustainable home ownership. Wells Fargo will collaborate with the City of Miami and the non-profit organization NeighborWorks America and its local Miami affiliate Neighborhood Housing Services of South Florida to execute the program. 'The downturn in the economy has created challenges for many of our Miami citizens to become homeowners,' said City of Miami Mayor Tomás Regalado. 'We are looking forward to collaborating with Wells Fargo and Neighborhood Housing Services of South Florida on this important sustainable housing effort. It’s time to get our housing market moving again.'
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