Wells Fargo Provides $ 5 Million Down Payment in Philadelphia

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Wells Fargo announced that it will provide $ 5 million for its NeighborhoodLIFT program to increase home ownership for low- and middle-income people in Philadelphia.

The bank partnered with NeighborWorks America and its Neighborhood Housing Services (NHS) network member Greater Berks to provide $ 15,000 in down payment assistance to approximately 300 eligible home buyers. Wells Fargo also partners with New Kensington Community Development Corp. (NKCDC) and HACE to provide essential education for home buyers.

“Affordability has been an issue in Philadelphia for some time, and the pandemic has exacerbated the fact that too many people pay a significant portion of their income in rent and mortgages,” said Bill Daley, Wells Fargo vice chairman of public affairs. “This initiative will have a positive impact on the lives of families, guiding them on the path to stability of housing, well-being and the accumulation of wealth through successful home ownership.”

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