Wells Fargo's $10K Down Payment Grant Program for Home Buyers
Wells Fargo has launched a down payment grant program that offers eligible buyers or homeowners $10,000 in eight metropolitan areas. The program is available to those with a combined 120% or less of the area median income and can be used towards the down payment on a Wells Fargo fixed-rate conventional loan. The bank aims to address systemic inequalities in housing and finance by providing assistance to minority families. The grant program can be combined with other programs offered by Wells Fargo, such as Dream. Plan. Home. Mortgage and Closing Cost Credit. The initiative is part of the bank's efforts to expand its Special Purpose Credit Program and advance racial equity in homeownership.