NeighborhoodLIFT is coming to Minneapolis and St. Paul! The NeighborhoodLIFT® program, a collaboration between Wells Fargo and NeighborWorks® America, offers down payment assistance for eligible homebuyers who complete approved homebuyer education. The program provides eligible homebuyers with $15,000 to use toward down payment and/or closing costs on qualified homes.
Not ready to buy a home or unsure if you’re ready? The NeighborhoodLIFT Home Ownership Counseling Initiative offers counseling covering credit and homebuying. A list of these counseling providers is available here. Note: This counseling is an additional resource to help people prepare for homeownership and does not meet the requirement of completing the eight hours of homebuyer education needed to apply for NeighborhoodLIFT down payment assistance.
DATES TO REMEMBER
Minneapolis and St. Paul NeighborhoodLIFT Down Payment Assistance will be available beginning January 11, 2021 at 9:00 a.m.
You can visit this website to verify your eligibility and submit a request for a reservation of $15,000 in down payment assistance beginning January 11, 2021. The intake period will remain open until 11:59 p.m. Sunday, January 17, 2021. Interested homebuyers can submit the required information at any time during the seven-day window.
Get ready for the NeighborhoodLIFT Program by completing these steps prior to January 11
- Complete eight hours of homebuyer education from an agency that is approved for the NeighborhoodLIFT program See approved providers.
- Get a mortgage pre-approval from an approved NeighborhoodLIFT lender. See approved lenders.
- Meet the income requirements for the program. All borrowers’ annual income must be below $77,840.
NeighborhoodLIFT Program Information
- Provides homebuyer education to prepare potential homebuyers for homeownership
- Provides eligible homebuyers with $15,000 in down payment assistance on eligible properties
- Assistance is not limited to first-time homebuyers
- All borrowers’ annual income must be below $77,840
- Properties for the program must be:
- Located in the city limits of Minneapolis or St. Paul
- The primary, owner-occupied home of the borrowers
- A single-family home (attached or detached), 2- 4-unit home, condominium, townhome, PUD, co-op, land trust or qualified manufactured home.
NOTE: No closings may take place before Friday, February 19, 2021. Please coordinate with NeighborWorks Home Partners, your first mortgage lender, and real estate agent as closing dates may need to be adjusted due to demand and capacity. Customers need a minimum of 30 days to close.
Visit this site beginning January 11, 2021, to complete the following steps and take an eligibility questionnaire to see if you meet the requirements to request down payment assistance and submit your request for funds.
If the number of requests exceeds the amount of funds available, random selection will be used and a limited number of individuals will be notified by the end of the day on Tuesday, January 19 with their next steps to move forward in the program. Those who are determined to be eligible will be issued a 90-day reservation for down payment assistance.
Be sure to check the spam or junk mail folder in your email. All communication will be from NeighborWorks Home Partners.
If you have additional questions, visit our Frequently Asked Questions page.