Wells Fargo Brings CityLIFT Program to Philadelphia to Help Local Housing Market

Wells Fargo, the nation’s largest home mortgage lender, today announced the company’s CityLIFT program will launch in Philadelphia in September. The CityLIFT program is a collaboration between Wells Fargo Bank N.A. and NeighborWorks America designed to provide down payment assistance and homebuyer education programs in areas most impacted by the financial crisis. The Philadelphia CityLIFT program includes a $10 million investment for down payment assistance grants, homebuyer support programs, and local initiatives to help consumers achieve successful, sustainable homeownership. In addition, as part of the program, Wells Fargo is making a five-year goal of making $2.2 billion in new mortgage purchase loans for Philadelphia homebuyers. Philadelphia is one of 20 cities that will benefit from a total of $170 million Wells Fargo has committed through its CityLIFT programs (including NeighborhoodLIFT and CityLIFT) to support sustainable housing in cities affected by the economic downturn.

–  PYMNTS.com

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