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Wells Fargo CityLIFTSM Program To Provide $4.8 Million In Down Payment Assistance Grants For Inland Empire Eligible Homebuyers

Wells Fargo, the nation’s largest home mortgage lender, today announced the company’s Inland Empire CityLIFT SM program, a $4.8 million local effort, will be available for eligible homebuyers to purchase a home in one of five Inland Empire cities on August 9-10 at a homebuyer event in San Bernardino.

The CityLIFT SM program is a collaboration between Wells Fargo Bank N.A., San Bernardino, Fontana, Riverside, Corona, and Moreno Valley officials, and NeighborWorks America, a national non-profit organization which creates opportunities for people to live in affordable homes, improve their lives, and strengthen communities. The program is designed to provide down payment assistance and homebuyer education programs in areas most impacted by the financial crisis. The Inland Empire CityLIFT SM program is for qualified potential homebuyers interested in buying and living in a home in San Bernardino, Fontana, Riverside, Corona or Moreno Valley.

The Inland Empire CityLIFT SM program will include a free homebuyer event on Friday, August 9 from 10 a.m. to 7 p.m. and Saturday, August 10 from 10 a.m. to 7 p.m., at the National Orange Show’s Damus Building in San Bernardino. Prospective homebuyers can register at www.wellsfargo.com/citylift and learn more about Inland Empire CityLIFT SM program by calling 1-866-802-0456. Pre-registration is encouraged, although walk-ins are welcome.

“We know the Inland Empire was one of the areas most deeply affected by the country’s housing crisis and while today mortgages are available at historically low interest rates, many families are still unable to purchase a home because they struggle with making the down payment,” said Celia Lanning, Wells Fargo’s Inland Empire regional president. “The CityLIFT SM program will help address this issue by providing down payment assistance grants and homebuyer education to help local homebuyers realize their dreams of owning a home.”

At the event, potential homebuyers can find out if they qualify for the down payment assistance program and reserve funds of $15,000 for 60 days to purchase a home even if they have yet to find a property. In addition, prospective homebuyers may stop by the Wells Fargo Affordable Home Tour SM viewing center to preview featured homes available for sale in local neighborhoods.

“The Inland Empire may have been deeply affected by the housing crisis, but it is a great place to live, work and raise a family,” said Hon. Mayor Patrick Morris, City of San Bernardino. “I am delighted the CityLIFT SM program is coming to the Inland Empire to help 320 new homeowners plant their roots in one of these five great cities.”

Wells Fargo will collaborate with San Bernardino, Fontana, Riverside, Corona and Moreno Valley city officials, NeighborWorks America , and local NeighborWorks affiliate Neighborhood Housing Services (NHS) of the Inland Empire to implement the CityLIFT SM program.

“This program will help our residents with quality, affordable housing,” said Hon. Mayor Rusty Bailey, City of Riverside. “This down payment assistance program made possible by Wells Fargo and NHS of Inland Empire will help strengthen our housing market and provide Riverside residents with the knowledge and resources they need to succeed as homeowners.”

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