Wells Fargo Expands NeighborhoodLIFT for Jacksonville Homebuyers

Eligible homebuyers can make an appointment now to apply for a
matching down payment assistance grant up to $7,500 on September 23-24
at the Prime F. Osborn Convention Center

JACKSONVILLE, Fla.–(BUSINESS WIRE)–Wells Fargo & Company (NYSE:WFC), NeighborWorks® America
and its network member Housing Partnership, Inc., today announced the
NeighborhoodLIFT® program will return to Jacksonville
with a $5 million commitment by Wells Fargo to boost homeownership.


This program created 328 new homeowners in Jacksonville in 2012. The
2016 expansion is expected to create about 450 additional homeowners by
offering education plus down payment assistance.

“Homeownership is part of the American Dream for many individuals and
families in the Jacksonville area,” said Mayor Lenny Curry. “The
availability of matching down payment assistance grants and other
counseling services through the NeighborhoodLIFT program is a huge win
for our city and truly meets a growing need to building sustainable
communities.”

Interested homebuyers can attend the free homebuyer event on September
23-24 when eligibility will be determined for an opportunity to reserve
a matching down payment assistance grant ranging from $2,500 up to
$7,500 based on the homebuyer’s contribution. To learn more about the
eligibility requirements and register, visit www.NeighborhoodLIFT.com

“We are committed to supporting local communities and help stimulate
affordable homeownership in Jacksonville,” said Kelly Smith, North
Florida region president for Wells Fargo’s Community Bank. “The
NeighborhoodLIFT program will set hard-working families and individuals
up for success through down payment assistance and homebuyer education,
revitalizing neighborhoods and creating stronger communities.”

Registration for the NeighborhoodLIFT event on
September 23-24

The Wells
Fargo NeighborhoodLIFT
program will begin with a free event on
September 23-24 from 10 a.m. to 7 p.m. at the Prime F. Osborn Convention
Center located at 1000 Water St. Prospective homebuyers can register at www.NeighborhoodLIFT.com
or calling (866) 858-2151.

Pre-registration is strongly recommended to reserve a matching down
payment assistance grant, although walk-ins are welcome while funds are
available. The event includes a Wells Fargo Affordable Home Tour®
viewing center where attendees can preview local homes available for
purchase.

Matching down payment assistance grants will be based on the eligible
homebuyer’s contribution. Annual incomes must not exceed 80 percent of
the local area median income, which in Jacksonville is about $51,900 for
a family of four, with income maximums varying depending on family size
and type of loan. Approved homebuyers will have up to 60 days to
finalize a contract to purchase a home. To reserve the full grant
amount, participants buying homes with the NeighborhoodLIFT
program must commit to live in the home for three years.

The NeighborhoodLIFT event in Jacksonville for active servicemembers and
veterans will include information about special financing and resources
such as VA loans, homebuyer education and down payment assistance
grants. Area median income limit for servicemembers and veterans is
$64,900 for a family of four in Jacksonville, with income maximums
varying depending on family size and type of loan. Since announcing its Military
Affairs
program in 2012, Wells Fargo has contributed more than $68.5
million to support military and veterans. This includes 19.5 million in
nonprofit grants, and more than 300 home donations to wounded veterans
valued at more than $49 million.

“NeighborWorks America and Wells Fargo’s collaboration has already
helped thousands of people achieve homeownership throughout the
country,” said Don Phoenix, regional vice president, Southern Region,
NeighborWorks America. “One of the best ways to prepare for
homeownership is to work with a housing counselor who knows the
community and can help guide consumers through the entire process.”

To be eligible, homebuyers must complete an eight-hour homebuyer
education session with Housing Partnership Inc. or Wealth Watchers
HUD-approved housing counseling agencies. NeighborhoodLIFT program
grants may be combined with other down payment assistance programs to
provide additional financial benefits, and homebuyers can obtain
mortgage financing from any qualified lender.

“This collaborative effort by NeighborWorks America and Wells Fargo will
make a significant impact in helping hundreds achieve affordable and
sustainable homeownership,” said Pat McNamara, president and CEO,
Housing Partnership, Inc. “We are thrilled to help connect Jacksonville
homebuyers to NeighborhoodLIFT down payment assistance grants and the
homebuyer education support services we provide.”

Since February 2012, NeighborhoodLIFT programs combined have helped
create more than 12,000 homeowners in 46 communities. A video about
NeighborhoodLIFT programs is posted on Wells
Fargo Stories
.

About Housing Partnership Inc., Wealth Watchers and NeighborWorks
America

Housing Partnership Inc. and Wealth Watchers are chartered members 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 240 nonprofits, located in every state, the
District of Columbia and Puerto Rico. Visit www.neighborworks.org,
www.cp-cto.org/housing-partnership
or https://wealthwatchersfl.com
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. Founded in 1852
and headquartered in San Francisco, Wells Fargo provides banking,
insurance, investments, mortgage, and consumer and commercial finance
through more than 8,600 locations, 13,000 ATMs, the internet (wellsfargo.com)
and mobile banking, and has offices in 36 countries and territories to
support customers who conduct business in the global economy. With
approximately 268,000 team members, Wells Fargo serves one in three
households in the United States. Wells Fargo & Company was ranked No. 27
on Fortune’s 2016 rankings of America’s largest corporations. Wells
Fargo’s vision is to satisfy our customers’ financial needs and help
them succeed financially. Wells Fargo perspectives are also available at Wells
Fargo Blogs
and Wells
Fargo Stories
.

Contacts

Wells Fargo & Company
Michael H. Gray, 305-619-6381
Michael.h.gray@wellsfargo.com
Stephanie
Grant,
760-317-6505
Stephanie.Grant2@wellsfargo.com