Wells Fargo has launched a new homeownership down payment program designed to help buyers purchase homes in majority Black census tracts. The Homebuyer Access grant offers $10,000 toward home down payments in eight metro areas. In the northeast area, grants are available in eight metropolitan areas, composed of the following cities: New York City; Philadelphia, Camden, Newark, and Jersey City, NJ; Wilmington, De; Washington, DC, Arlington and Alexandria, Va; and the Maryland cities of Baltimore, Columbia, and Towson.
“Homeownership is central to building wealth but has been out of reach for many minority families as a result of systemic inequalities in housing and finance,” said Kevin Reen, head of Wells Fargo Home Lending. “One of the biggest barriers to achieving homeownership is coming up with the down payment. We’re proud to make this dream a reality for families through our new $10,000 Homebuyer Access grant.”
The Homebuyer Access grant is part of the company’s Special Purpose Credit Program.
Potential homebuyers looking to purchase a home in any of the eight metropolitan areas and those who currently live in those areas can find out more about the program, including how to contact a local Wells Fargo Home Lending office in their area at https://wellsfargo.com/homegrant or they can call 866‑327‑6414.