Wells Fargo Residence Lending introduced just lately that it’s going to provide $10,000 Homebuyer Entry grants that shall be utilized towards the down cost for eligible homebuyers who at the moment reside in or are buying houses in sure underserved communities in eight metropolitan areas, together with the Washington, D.C., area.
“Homeownership is central to constructing wealth however has been out of attain for a lot of minority households because of systemic inequalities in housing and finance,” stated Kevin Reen, head of Wells Fargo Residence Lending. “One of many largest limitations to reaching homeownership is arising with the down cost. We’re proud to make this dream a actuality for households by means of our new $10,000 Homebuyer Entry grant.”
The grants can be found to homebuyers who earn a mixed 120% or much less of the realm median earnings within the county the place the topic property is situated. The grant funds can solely be used towards the downpayment on a Wells Fargo fixed-rate typical mortgage secured by a property that would be the purchaser’s major residence.
For extra data, go to wellsfargo.com.