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Downpayment Help For Homebuyers

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(Photo by Joshua Lott/Getty Images)

(Photo by Joshua Lott/Getty Images)

tate south Tate South
Email Tate at tate.south@cbsradio.com
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(Las Vegas, NV) — Prospective homebuyers may qualify for up to $15,000 in downpayment assistance.

Wells Fargo Bank is extending its NeighborhoodLIFT program to help families buy a newly constructed or existing home in the City of North Las Vegas.  Bank officials say you do not have to take out a mortgage with Wells Fargo to receive the downpayment grant.

The program is still available in the City of Las Vegas.  About 275 have been purchased with NeighborhoodLIFT since it began in May 2012.

“We hope that people choose to purchase a new home in the City of Las Vegas, but we understand that our sister city to the north could use the assistance as well,” said City of Las Vegas Mayor Carolyn Goodman. “Consistent with the new spirit of cooperation between our cities, we’d like homebuyers in North Las Vegas to be able to take advantage of this program to accelerate the valley’s economic recovery.”

“North Las Vegas has some of the most affordable housing areas in Southern Nevada,” said City of North Las Vegas Mayor John Lee. “This program not only benefits prospective homebuyers but our community as well.”

“We are pleased that Mayor Goodman agreed to extend the benefits of the NeighborhoodLIFT program to the City of North Las Vegas,” said Nevada Region President Kirk V. Clausen. “This initiative is helping make homeownership more affordable for hundreds of local homeowners and is helping further the economic recovery of Southern Nevada.”

“We are helping eligible homebuyers with homebuyer education and $15,000 in down payment assistance from the Wells Fargo NeighborhoodLIFT program to enable them buy a home in the cities of Las Vegas and North Las Vegas,” said Neighborhood Housing Services of Southern Nevada Executive Director Lenny Chide. “We have already helped 275 homeowners make their dream of home ownership in the City of Las Vegas come true.”

NeighborhoodLIFT program funds may also be applied to special 203k renovation mortgage purchase loans. Through the FHA 203k program, homebuyers can potentially acquire funding both for the purchase of the home and also the necessary renovations. Valuation of the loan is based on future value after the renovations.

To find out if you qualify for the program, visit  and Wells Fargo branch or visit the NeighborhoodLIFT website.

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