Hi Friends! 

You may be hearing some buzz surrounding a grant program in Polk County offering homebuyers up to $17,500.  Sounds too good to be true, right?  Well, rest assured it is not.  Sure, there are some requirements to be met, but all-in-all, it’s a pretty rad program.  Read below to find out more!

Background on the NeighborhoodLIFT Program:

• It's a collaborative effort of Wells Fargo Bank, N.A., Wells Fargo Foundation, and NeighborWorks America (an independent non-profit organization)/Neighborhood Finance Corporation here. Wells Fargo has committed $400 million in total to this program. **$4 million will be available locally.**
• Up to 243 NeighborhoodLift grants will be available for homebuyers here in Polk County.  

Who Qualifies for this Grant?

• Homebuyers purchasing an owner-occupied, primary residence in Polk County. It does not have to be a first-time homebuyer; however, the previous home sale must be closed. 
• Single-family homes, condos/townhomes, & even some manufactured homes are OK.
• Buyers must be approved for a first mortgage by an approved lender. 
• The combined income for all borrowers cannot exceed 80% of Polk County's median income.
• Military, law enforcement, firefighters, teachers, and emergency medical technicians can make up to 100% of the Polk County's median income.

What's the Process of Obtaining the Grant Money?

• Beginning September 10, 2018, you may visit Wells Fargo’s LIFT Web Page below to register for the Des Moines-Polk County NeighborhoodLIFT Launch Event.  Technically walk-ins are welcome, but only those who pre-registered are guaranteed a meeting with a professional from Neighborhood Finance Corporation (NFC) to determine individual eligibility for a NeighborhoodLIFT program.
• The Launch Event will take place on Friday, 9/28 and Saturday, 9/29.  If you qualify, this is where you will reserve your funds of either $15K or $17,500!!!!

And Then?

• Take an 8-hour homebuyer education course.  You will survive this...and it will be worth it!
• Pick an amazing realtor (eh hem: Stacie Holst) who is knowledgeable about this program (Stacie Holst), and will work closely with your loan officer (I highly recommend Cliff Cunanan) to help you make the best use of your funds.  
• Shop for homes!!  This the exciting (but occasionally frustrating) part.  Sometimes you can't find what you want, and sometimes you do, but they go fast!  Rest assured I will notify you of all listings that meet your needs as soon as they hit the market, and we will schedule showings for your top pics ASAP.  You will have 60 days to find a home and get an accepted offer (we call this under contract). 
• Make an offer!! It's important to know that there are a number of ways that you can apply your funds to ensure that you have the strongest offer and the best chance of getting the home of your choice.  We'll work together to get you the home of your dreams!
• Close on your new home (earliest date is 10/30).
• Do a happy dance, high five your realtor (Stacie Holst), and enjoy your new home!

Some Important Resources & Notes

• Consumer info & registration link (9/10 or later) for the LIFT Launch Event: Wells Fargo NeighborhoodLIFT Event Details and Registration
• See required documentation and additional info here: 
• As previously mentioned military personnel (active duty & veterans), law enforcement, firefighters, EMTs, and teachers can make up to 100% of the median income **PLUS** they may be eligible for the additional $2,500 ($17,500 total). 
• The grant money is fully forgivable if you stay in your home for 5 years.  Each year the amount you would need to repay decreases by 20%.  
• 80% & 100% of the median income guidelines: 
• Unfortunately, Wells Fargo Team Members do not qualify.  It's a bummer, I know.  :(

Disclaimer: 

• I do NOT work for Wells Fargo or Neighborhood Finance Corp, and this is not intended to be an all-inclusive publishing.  That being said, I wholeheartedly believe that this is an awesome program and that it will help a lot of really deserving people.  The information presented here is correct to the best of my knowledge.  Please let me know if you believe there to be any incorrect info. 

Spread the good word!  
Stacie Holst