Wells Fargo & Company (NYSE: WFC), NeighborWorks America and its network member Trellis, announced the Wells Fargo NeighborhoodLIFT program has millions of dollars in down payment assistance grants still available for eligible Maricopa County homebuyers.

“We are ready to help families qualify for the Wells Fargo NeighborhoodLIFT program down payment assistance grants,” said Patricia Garcia Duarte, president and CEO, Trellis.  “Wells Fargo’s investment will help more individuals and families become homeowners, making Maricopa County neighborhoods even stronger.”

With a $5 million commitment by Wells Fargo to help boost local homeownership, Wells Fargo, NeighborWorks America, and Trellis launched the program with a homebuyer event in Phoenix on Jan. 15-16.  At the event, 85 homebuyers reserved grants, leaving hundreds of matching down payment assistance grants up to $7,500 available for eligible homebuyers with a contract to purchase a Maricopa County home.  To receive the full grant amount, participants buying a home with LIFT program down payment assistance grants must commit to live in the home for three years and qualify for a first mortgage on the property.

“While the local economy continues to show signs of improvement, many families have yet to re-enter the housing market because they struggle with coming up with a sufficient down payment,” said Michael Riley, Metro West area president for Wells Fargo. “We believe these matching down payment assistance grants will add up to make a huge difference for hundreds of people and families who want to own a home.”

Matching down payment assistance grants ranging from $2,500 up to $7,500 are based on the eligible homebuyer’s contribution. Annual incomes must not exceed 80 percent of the local area median income. In Maricopa County that is about $51,200 for a family of four, with income maximums varying depending on family size and type of loan.

To be eligible, homebuyers must meet criteria such as completing an eight-hour homebuyer education session with Trellis, or another HUD-approved counselor. To learn more about the matching down payment assistance program eligibility requirements, visit www.NeighborhoodLIFT.com or contact Trellis at (602) 258-1659.

The Wells Fargo NeighborhoodLIFT program down payment assistance grants may also be combined with other down payment assistance programs to provide additional financial benefit to qualified buyers. Information regarding these other programs will be available at NeighborhoodLIFT events.  Participating homebuyers can obtain mortgage financing from any qualified lender.  Trellis will determine homebuyer eligibility and administer the down payment assistance grants. Approved homebuyers will have up to 60 days to finalize a contract to purchase a home within Maricopa County.

Wells Fargo’s NeighborhoodLIFT program for Maricopa County follows the Phoenix NeighborhoodLIFT program launched in 2012 that created 375 homeowners as a result of an $8 million investment by Wells Fargo. Maricopa County is the first Wells Fargo NeighborhoodLIFT program of 2016 and is now one of 40 communities across the country that will benefit from more than $283 million Wells Fargo has committed through its LIFT programs.  NeighborhoodLIFT program is a corporate philanthropic initiative funded by the Wells Fargo Foundation and since February 2012, LIFT programs combined have helped create more than 10,850 homeowners in the 40 communities where the programs have been introduced. A video about LIFT programs is posted on the Wells Fargo YouTube Channel.