Trellis and its parent organization NeighborWorks America recently shared that Wells Fargo has pledged $5 million via its “NeighborhoodLIFT” program to support homeownership in Arizona’s Maricopa County.
“Making homeownership more affordable can help hard-working families and strengthens our neighborhoods,” Phoenix Mayor Greg Stanton said. “This innovative public-private partnership will make a difference for eligible homebuyers through financial education and down payment assistance.”
By providing funds for down payments, the organization will help hundreds of homeowners clear the significant hurdle of managing capital for the sums required. Trellis is part of NeighborWorks America, helping people to live in affordable homes, improve their lives and strengthen their communities through a network of 240 nonprofits across every state, Washington, D.C., and Puerto Rico.
“This innovative collaboration among NeighborWorks America, our network member Trellis, Wells Fargo and Maricopa County will put more families and individuals on the path to homeownership,” Gary Wolfe, NeighborWorks America’s vice president for the Rocky Mountain region, said. “The required housing counseling and education classes provided by certified professionals have been shown to help people achieve their goals of buying a home.”
The Maricopa County NeighborhoodLIFT program follows the initiative’s successful 2012 premiere in Phoenix, which sponsored 375 homeowners with a $8 million investment from Wells Fargo.
As Wells Fargo’s first NeighborhoodLIFT program of 2016, Maricopa County is one of 40 communities nationwide to benefit from the programs.