Alamo Community Group, Wells Fargo team up
The Alamo Community Group and Wells Fargo have unveiled plans for a new partnership designed to make homeowners out of 250 families in San Antonio.
NeighborhoodLIFT, as the initiative is called, is a down-payment-assistance program that will be available for families looking to purchase a home in the city of San Antonio. Eligible residents would receive $15,000 from Wells Fargo — money that would go towards a downpayment on a house, at a zero-percent interest rate.
The program is being made available via a partnership between Alamo Community Group, Wells Fargo and NeighborWorks America.
The deal marks a new line of services for Alamo Community Group — the locally based 501(c)(3) founded in 1990 to develop, acquire, own and manage leased affordable housing.