Sacramento Homeownership to Get $6 Million Boost

Wells Fargo & Company (NYSE:WFC), NeighborWorks^® America
and its local network member, NeighborWorks HomeOwnership Center
Sacramento Region, today announced an additional $6 million donation by
Wells Fargo to boost homeownership through the NeighborhoodLIFT^®
program for Sacramento County and the city of West Sacramento. This
effort to create approximately 225 local homeowners follows the success
of the 2012 NeighborhoodLIFT program for Sacramento that included a $7
million philanthropic investment by Wells Fargo and created 329
homeowners.

“The NeighborhoodLIFT program is another example of our commitment to
Sacramento and our efforts to bring forward solutions to address housing
affordability,” said David Galasso, Wells Fargo Greater California lead
region president. “The program will help hardworking families and
individuals get on the path to achieve successful and sustainable
homeownership.”

Free NeighborhoodLIFT event scheduled May 31–June 1

Interested homebuyers are encouraged to register beginning Monday, May
13 at 9 a.m. at www.wellsfargo.com/lift
to attend the free event scheduled for Friday, May 31, from 10 a.m. to 7
p.m. and on Saturday, June 1, from 9 a.m. to 2 p.m. at the Sacramento
Convention Center, located at 1400 J St. in Sacramento. Walk-ins also
are welcome while grants are available for reservation. NeighborWorks
Sacramento will administer the $20,000 down payment assistance grants,
determine eligibility and provide homebuyer education.

To be eligible to reserve a $20,000 down payment assistance grant,
annual incomes must not exceed 100% of the local area median income
where the home is being purchased, which is $83,600 in Sacramento and
$87,900 in West Sacramento for up to a family of four. In addition,
there are special parameters for eligible military service members and
veterans, teachers, law enforcement officers, firefighters and emergency
medical technicians who may reserve $22,500 down payment assistance
grants.

Participating homebuyers can obtain mortgage financing from any
participating lender. Approved homebuyers will have up to 60 days to
finalize a contract to purchase a home in Sacramento County or West
Sacramento.

“This innovative public-private collaboration will create about 225
Sacramento-area homeowners,” said Heather Starzynski, vice president of
field operations with NeighborWorks America. “The required homebuyer
education classes provided by certified professionals better prepare
NeighborhoodLIFT homebuyers to achieve their goal of sustainable
homeownership.”

Approved homebuyers must be approved for home financing with an eligible
lender and be in contract to purchase a home in Sacramento County or
West Sacramento. To reserve the full grant amount, participants buying a
primary residence with the NeighborhoodLIFT program must commit to live
in the home for five years.

“Our experienced counselors are ready to help people become homeowners
with the support of NeighborhoodLIFT homebuyer education and down
payment assistance,” said Juan Rivera, president and CEO of
NeighborWorks Sacramento. “We are pleased to join Wells Fargo and
NeighborWorks America to make homeownership more affordable, achievable
and sustainable for the people of Sacramento County and the city of West
Sacramento.”

In addition, Wells Fargo has committed up to $325,000 to enable as many
as 650 consumers to receive complimentary face-to-face homeownership
counseling. Interested homebuyers can receive a voucher at the
Sacramento NeighborhoodLIFT launch event that will provide in-person
homeownership counseling at no charge with a local participating
HUD-approved housing counselor in Sacramento. The homeownership
counseling grant program is a resource in addition to the homebuyer
education required for a NeighborhoodLIFT down payment assistance grant.

In 2018, Wells Fargo increased its philanthropic impact by donating $444
million, including $75 million for the NeighborhoodLIFT program, to
nearly 11,000 nonprofits to help communities and people in need.
Overall, Wells Fargo has invested $456 million for the LIFT program and
conducted 69 launches across the U.S. since 2012, creating more than
20,800 homeowners. A video about the NeighborhoodLIFT program is posted
on Wells
Fargo Stories.

About NeighborWorks America and its network members

NeighborWorks Sacramento is a chartered member of NeighborWorks America,
a national organization that creates opportunities for people to live in
affordable homes, improve their lives and strengthen their communities.
NeighborWorks America supports a network of more than 245 nonprofits,
located in every state, the District of Columbia and Puerto Rico. Visit
or https://www.nwsac.org/
or www.neighborworks.org
to learn more.

About Wells Fargo

Wells Fargo & Company (NYSE: WFC) is a diversified, community-based
financial services company with $1.9 trillion in assets. Wells Fargo’s
vision is to satisfy our customers’ financial needs and help them
succeed financially. Founded in 1852 and headquartered in San Francisco,
Wells Fargo provides banking, investment and mortgage products and
services, as well as consumer and commercial finance, through 7,700
locations, more than 13,000 ATMs, the internet (wellsfargo.com) and
mobile banking, and has offices in 33 countries and territories to
support customers who conduct business in the global economy. With
approximately 262,000 team members, Wells Fargo serves one in three
households in the United States. Wells Fargo & Company was ranked No. 26
on Fortune’s 2018 rankings of America’s largest corporations. News,
insights and perspectives from Wells Fargo are also available at Wells
Fargo Stories.

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