January 10th, 2018
All HomeLIFT downpayment assistance funds have been fulfilled.
HomeLIFT is a national program from Wells Fargo and NeighborWorks America. It provides eligible home buyers with a $15,000 in 0%, forgivable loan to purchase a home in New Haven, East Haven or West Haven.
With HomeLIFT, HDF helped 219 families to purchase homes in New Haven, West Haven, and East Haven – a total of $3.28 million of forgivable loans. HomeLIFT borrowers were also able to access HDF’s other lending programs. Together, HomeLIFT and HDF downpayment assistance funds leveraged over $30 million in first mortgages.
The program stayed ahead of the 2-year schedule for deployment, with the last funds reserved in late 2017. HomeLIFT New Haven was a partnership between the HDF, NHS of New Haven, NeighborWorks America, and Wells Fargo.
“New Haven was hit hard by the foreclosure crisis. When we had the opportunity to help, we ran with it. When organizations collaborate effectively, we can multiply our impact in the communities we serve. The 219 families helped by HomeLIFT funds are proof!,” says HDF President and CEO Joan Carty, of HDF’s recent HomeLIFT New Haven program.