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Mayor Hancock Launches Program To Boost Home Ownership In Denver
Dated: March 19 2014
“This public-private partnership has the potential to make a significant difference for Denver families and neighborhoods, by making home ownership more affordable for people who want to live here,” Hancock said at a press conference at the Wellington E. Webb Municipal Office Building at Civic Center.
Denver is now the third city in the United States to be part of Wells Fargo’s Neighborhood LIFT program, which provides down payment assistance grants to eligible home buyers.Of the $5.65 million committed by Wells Fargo to Denver, $4.5 million will go to down payment assistance. Another $500,000 will go toward improving Denver neighborhoods, Hancock said.The remainder will be spent on a two-day home buyer event April 4-5 at the Colorado Convention Center, where prospective home buyers can apply for the grants.
The program is available for those who are approved for home financing and their household income is equal to or less than 120 percent of the area median income.To receive the full grant amount, participants buying homes with a LIFT program grant must commit to live in the home for five years and qualify for a first mortgage on the property, Wells Fargo said Wednesday.
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My name is Michael Ross Steffen. I’m an Exit Realty Cherry Creek Agent in the Denver metro area and Team Leader For Generation Property Group! We specialize in advanced Internet marketing, buying, s....