HomeLIFT℠ Program Orientation New Haven, East Haven and West Haven Peter Barna, Branch Manager Wednesday, August 12, 2015

HomeLIFT℠ Overview A community support effort featuring a down payment assistance program designed to support sustainable homeownership and advance neighborhood stability Wells Fargo has committed $278.7 million to help support housing markets Nearly 9,500 households have become homeowners through the LIFT down payment assistance and homebuyer education The HomeLIFT® program is a collaborative program of Wells Fargo Bank, N.A., and Neighborworks® America, an independent nonprofit organization

HomeLIFT Making homeownership a reality Click middle photo to start video.

HomeLIFT New Haven, East Haven and West Haven is our 37th HomeLIFT℠/NeighborhoodLIFT®/CityLIFT® market $4.1 million in down payment assistance grants and support For consumers who believe they are ready for homeownership but need support and help to overcome barriers and concerns 1 Los Angeles 2 Atlanta 3 Phoenix 4 Las Vegas 5 Houston 6 Miami 7 Tampa 8 Orlando 9 Jacksonville 10 Minneapolis 11 Philadelphia 12 Washington 13 Chicago 14 Sacramento 15 Memphis* 16 Oakland 17 Baltimore 18 New York/New Jersey 19 The Inland Empire, CA 20 Cleveland 21 Charlotte 22 Portland 23 New Orleans 24 Dallas 25 Denver 26 Milwaukee 27 Kansas City 28 Tucson 29 Indianapolis 30 Cincinnati 31 Salt Lake City 32 San Antonio 33 Albuquerque 34 Stockton, Modesto and Fresno 35 Virginia Beach and Norfolk 36 Bakersfield 37 New Haven, East Haven and West Haven

Down payment assistance program (DAP) Overview HomeLIFT down payment assistance A second lien of $15,000, with 0% interest and no payments due Fully forgiven after five years, with 20% forgiven per year Available for the purchase of owner-occupied primary residences Requires an approval for a first mortgage loan through Wells Fargo or another approved lender Household income cannot exceed 120% of the area’s median income, adjusted for household size HomeLIFT creates affordable and sustainable homeownership HomeLIFT funds cannot be used to purchase bank-owned properties being managed by Wells Fargo Premier Asset Services.

Down payment assistance program (DAP) Income limits 2015 Income Limits for New Haven, East Haven or West Haven Household Size 115% FHA 120% Conv’l Conforming, VA 1 $67,150 $70,100 2 $76,750 $80,100 3 $86,350 $90,100 4 $95,900 $100,100 5 $103,600 $108,150 6 $111,250 $116,150 7 $118,950 $124,150 8 $126,600 $132,150 The 2015 income limits are effective on loan applications taken on or after 3/6/15. The income of all individuals over the age of 18 who will be living at the property will be considered, even if they’re not listed as a borrower on the mortgage loan. The income limit is 115% of the Area Median Income for FHA financing, an option used by many homebuyers using the HomeLIFT down payment assistance.

Down payment assistance program (DAP) Nonprofit Neighborhood Housing Services of New Haven, a local NeighborWorks® America affiliate, will administer the funds. It will be their responsibility to assess individual borrowers’ eligibility for the HomeLIFT program. www.nhsofnewhaven.org

Down payment assistance program (DAP) Homebuyer education To promote sustainable homeownership HomeLIFT recipients are required to have 8 hours of homebuyer education Prepares homebuyers for finding and financing a home Informs homebuyers on managing the financial responsibilities of homeownership Provided by Neighborhood Housing Services of New Haven, a NeighborWorks America affiliate A HUD-approved counseling agency that has adopted the National Industry Standards for Homeownership Education and Counseling

Down payment assistance program Wells Fargo offers several loan programs to use with HomeLIFT: Conventional conforming FHA & FHA 203k reno VA New construction Encourage pairing HomeLIFT with other DAP and bond programs

Launch event for homebuyers Friday & Saturday August 28 & 29 Omni New Haven Hotel or Yale 155 Temple Street New Haven, CT 06510 10:00 a.m. – 7:00 p.m. Wells Fargo Home Mortgage Consultants are onsite for first mortgage preapprovals Consumers need a valid first mortgage pre-approval letter to reserve the HomeLIFT funds Meet with Neighborhood Housing Services of New Haven for a LIFT down payment assistance program reservation Reservation will be valid for 60 days The LIFT DAP reservation expires after 60 days if the customer does not have a signed purchase agreement for a property in the city limits of New Haven, East Haven or West Haven No other lender will be participating at the event. A list of additional approved lenders is provided by Neighborhood Housing Services of New Haven.

HomeLIFT event Customer registration Registration is OPEN – www.wellsfargo.com/homelift Encourage your clients to sign up today Appointments are usually fully booked before the event Walk-ins welcome, but no assurance funds will be available Only at the HomeLIFT event is a reservation available with just a preapproval!

HomeLIFT event Resources HomeLIFT event invitation flyers and letters Available for you today Distribute flyers to clients you are currently working with Send letters to your customer base Provide flyers at Open Houses for prospective clients For more materials after today: Contact your local Wells Fargo Home Mortgage Consultant Go to www.wellsfargo.com/homelift

Affordable Home Tour® Join our efforts to revitalize our neighborhoods – present your listings on our Affordable Home Tour Online viewing of listings promoted to consumers who visit www.wellsfargo.com/homelift Affordable Home Tour property booklets distributed at the event Virtual tours shown on several screens during the event Don’t wait! The earlier you upload properties the more opportunity to drive traffic to your listings! The earlier you list the more viewings you may get

Affordable Home Tour® Upload your listings Go to the Affordable Home Tour website to upload property photos and details newhaven.affordablehometour.com/register Upload by Wednesday, August 19 Affordable Home Tour Guidelines: Price range: $25,000 - $275,000 No price limit on homes that can be purchased with the HomeLIFT program Property must be located within the city limits of New Haven, East Haven or West Haven No foreclosures Property conditions will be reviewed No listings advertised as short sales No undeveloped land

HomeLIFT Event Experience New and first time homebuyers get down payment assistance with HomeLIFT Click middle photo to start video

Launch event for homebuyers The event is open to those seeking mortgage preapprovals and HomeLIFT reservations. It is not open to real estate agents, builders, or other real estate professionals. Real estate agents may accompany their clients through the process but must remain in their company while at the event. Soliciting event participants is strictly prohibited.

HomeLIFT Open House Open House for real estate professionals Thursday, August 27 Omni New Haven Hotel at Yale 155 Temple Street New Haven, CT 06510 4:00 p.m. – 5:30 p.m. - Tour the HomeLIFT site the day before the event - View the Affordable Home Tour on video monitors - Pick up an Affordable Home Tour booklet - Hear about the Union Plus advantage that’s exclusive to Wells Fargo - Network and discuss ways to work together for neighborhood stabilization Come see first-hand what attendees will experience!

HomeLIFT Encourage your clients to sign up for an appointment Speak to new clients about HomeLIFT Upload your listings to the Affordable Home Tour Take available resources to help promote affordable housing in your neighborhoods Visit us at the HomeLIFT Open House Reservations are valid for 60 days – let’s work together to put potential homebuyers into new homes!

Questions? This information is for real estate professionals only and is not intended for distribution to consumers. The down payment assistance program is available for households earning 120% or less of the area’s median income, adjusted for household size, although specific loan products have lower income limits. HomeLIFT funds cannot be used to purchase bank-owned properties being managed by Wells Fargo Premier Asset Services. The HomeLIFT program is a collaborative program of Wells Fargo Bank, N.A, and NeighborWorks America, an independent nonprofit organization. Although Wells Fargo is the sponsor of the HomeLIFT program, borrowers may seek financing for the remaining balance of the home purchase from any qualified lender who accepts the HomeLIFT down payment assistance program. © 2015 Wells Fargo Bank, N.A. All rights reserved. NMLSR ID 399801 #107525-NHV 07/15 MLR 1/15