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

1. 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

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

3. 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

4. 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.

5. 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.

6. 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.

7. 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

8. 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

9. 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.

10. HomeLIFT event Customer registration
Registration is OPEN –
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!

11. 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

12. 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
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

13. 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

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

15. 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.

16. 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!

17. 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!

18. 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 # NHV 07/15 MLR 1/15