Homebuyers In Newark Area Can Apply For Wells Fargo Grant

NEWARK, NJ — Prospective homebuyers in the Newark, Jersey City and New York City area may be eligible for a grant that can be applied to a down payment through a Wells Fargo Home Lending program.

The Homebuyer Access grants are being administered under the company’s Special Purpose Credit Program (SPCP).

Here’s what to know, according to a news release from Wells Fargo:

“Homebuyer Access grants will be available to homebuyers who earn a combined 120% or less of the area median income in the county where the subject property is located. The grant funds can only be used toward the down payment on a Wells Fargo fixed-rate conventional loan secured by a property that will be the purchaser’s primary residence. Homebuyers who are eligible for the Homebuyer Access grant can combine the grant with many other programs for which they may qualify, including Wells Fargo’s ‘Dream. Plan. Home.’ closing cost credit and/or mortgage. As a result, homebuyers who qualify for both a Homebuyer Access grant and the closing cost credit could receive up to $15,000 from Wells Fargo to help them purchase their home.”

In addition to the above areas, the grants are available to homebuyers who are purchasing homes in or who currently live in select areas in the following metropolitan areas:

• Minneapolis–St. Paul–Bloomington, MN-WI
• Philadelphia–Camden–Wilmington, PA-NJ-MD-DE
• Dallas–Ft. Worth–Arlington, TX
• Washington–Arlington–Alexandria, DC-VA-MD-WV
• Baltimore–Columbia–Towson, MD
• Atlanta–Sandy Springs–Alpharetta, GA
• Charlotte–Concord–Gastonia, NC-SC

Potential homebuyers looking to purchase a home in any of the eight metropolitan areas and those who currently live in those areas can find out more about the program, including how to contact a local Wells Fargo Home Lending office in their area, at https://wellsfargo.com/homegrant or they can call 866‑327‑6414.

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