About $3 million is still available for prospective homeowners who want help with their down payment to buy a house in southwest Atlanta.
Already, 160 families have purchased homes in the Capital View community and surrounding neighborhoods with the help of the NeighborhoodLift program.
“This is an ongoing effort,” said Jay Lawrence, a spokesman for Wells Fargo, which is funding the program. “About half the $6 million is still available. We want people to take advantage of it.”
NeighborhoodLift is sponsoring home tours Saturday in the 30310 ZIP code area. The event, which runs from 11 a.m. to 3 p.m., kicks off at 770 Deckner Ave. in the Perkerson Park area.
Qualifiers for up to $15,000 in down payment assistance grants must buy and live in a home in the area and meet requirements that include a maximum income of 120 percent of the Atlanta area median income, which is $79,550 for a family of four.
The homes on the tour are valued from $35,000 to $225,000. Builders, lenders, real estate professionals and housing counseling agencies also will be available during the tour. While it isn’t required, registration is encouraged at www.committedtocommunities.com.
Wells Fargo launched the program last year in Atlanta and Los Angeles to help tackle high inventories of unsold homes in areas hit hard by foreclosures and mortgage delinquencies. The bank set a five-year mortgage purchase lending goal of $1.3 billion for Atlanta.
In addition to Wells Fargo, other partners in the program include Resources for Residents and Communities, Invest Atlanta, Loan South Mortgage, Area West Realty and Atlanta Neighborhood Development Partnership. The Saturday tour is sponsored by Morris & Raper Real Estate Consultants and EpiCity, a real estate investment and management services company.
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