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Wells Fargo $4.75 million will offer home down payment grants

ALBUQUERQUE, N.M. — Home buyers struggling to come up with money for a down payment will get a boost from a multi-million dollar program that Mayor Richard Berry announced on Thursday.
Wells Fargo has committed $4.75 million toward the HomeLIFT program, which will provide $15,000 down payment assistance grants to qualified prospective home buyers.
“This is a big deal. This is almost $5 million coming into our community,” Berry said.
Wells Fargo is collaborating with NeighborWorks America, a national organization that helps people get into affordable homes, and its affiliate Homestart, a nonprofit that provides financial counseling for home buyers. Grants will be available for those with annual incomes that do not exceed 120 percent of the Albuquerque-area median income — around $71,300 for a family of four.
Applicants must qualify for a mortgage and complete a free eight-hour homebuyer education class with Homestart.
Wells Fargo will hold a two-day event from 10 a.m. to 7 p.m. May 1-2 at the Albuquerque Convention Center where homebuyers may qualify for the down payment assistance.
Prospective buyers are advised to register to attend at or by calling 866-858-2151. The website will provide information about which documents to bring to the event.