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Housing

Down payment aid offered by Wells Fargo in select areas

By Hubble SmithLAS VEGAS REVIEW-JOURNAL
April 17, 2012 - 1:01 am
 

Wells Fargo is offering down payment assistance of up to $15,000 for qualified home buyers in Las Vegas through the Neighborhood Lift program designed to attract prospective home buyers to neighborhoods struggling with high inventory of unsold homes.

Wells Fargo loan officers will explain the program and take applications during a May 4-5 event at the Riviera hotel convention center. Similar events have been held in Los Angeles, Atlanta and Phoenix.

Requirements for the Neighborhood Lift program include not exceeding 120 percent of local median income; commitment to occupy the home for five years; attend an eight-hour home buyer education session; and qualification for a first mortgage on the property.

The five-year goal of the program is to provide $1 billion in mortgage loans for Las Vegas home buyers, said Jon Campbell, Wells Fargo's head of social responsibility.

Prospective home buyers can register for the event at www.neighborhoodlift.com.

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