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Atlanta Home Buyer Downpayment Assistance and 203K Loans

With the looming foreclosure crisis still impacting many major cities in the United States, Wells Fargo has teamed up with local nonprofits to educate homebuyers and help them buy homes and absorb some of the city’s residential real estate inventory. The Program is called Neighborhood LIFT, and the first two cities to implement the program are Los Angeles and Atlanta.

The event was held this past weekend at the Georgia World Congress Center. The program focused on helping potential homebuyers determine whether they meet current home buying requirements. Each potential buyer was matched individually with a counselor who reviewed their financial information. Those that did qualify had the opportunity to apply for downpayment assistance through attending non-profits. The grants are in fact tied to certain neighborhoods and are available for a limited time. The loan programs also give homebuyers the opportunities to use 203K renovation loans to make repairs and renovation to the homes they wish to buy. This option lessens the financial burden on the home buyer by providing an alternative to paying for the necessary repairs out of pocket.

If you were unable to attend call your local branch for additional information.