The announcement of the event was made during a Thursday morning news conference to unveil a $5.15 million “Neighborhood LIFT” program for city homebuyers. Mayor Tom Barrett, along with representatives from Wells Fargo Bank, NeighborWorks America and Select Milwaukee were on hand to tout the new initiative.
Created by Wells Fargo, the “Neighborhood Lift” program will help revitalize neighborhoods through sustainable homeownership. This program includes the two-day homebuyer event, where prospective homebuyers may qualify for the $15,000 in down payment assistance to purchase a home in Milwaukee.
Wells Fargo is collaborating with the city and nonprofits Select Milwaukee and NeighborWorks America.
NeighborhoodLIFT program funds may be applied to loans with any approved lender and to 203k renovation loans to make improvements as part of a new mortgage purchase loan. Applicants must complete homebuyer education and have a contract to purchase a home to be eligible for a down payment assistance grant.