Monday through Friday: 7:00 am – 8:00 pm
Saturday: 8:00 am – 6:00 pm Central Time
After you’ve found a home to purchase, and your offer has been accepted, you’ll need to apply and be approved for a Wells Fargo fixed-rate conventional loan (you don't have to apply for the grant separately).
Talk with a home mortgage consultant today to discuss the home financing options that can get you closer to your homebuying goals.
To qualify for the grant, you must meet both the location eligibility and the income limits explained below.
Where you live, or where you want to live can determine your grant eligibility.
Certain areas located within the metro areas listed below are eligible. Talk with a home mortgage consultant to confirm location eligibility.
Atlanta, GA
Baltimore, MD
Buffalo, NY
California, CA
Charlotte, NC
Dallas, TX
Denver, CO
Kansas City, MO
Memphis, TN
Minneapolis/St. Paul, MN
New Jersey, NJ
New York, NY
Oklahoma City, OK
Omaha, NE
Philadelphia, PA
Pittsburgh, PA
Washington, D.C.
You’ll also need to meet income requirements based on where you’re buying your home. Check the limits by the state and county where you’re looking to buy below.
Max income limit
Monday through Friday: 7:00 am – 8:00 pm
Saturday: 8:00 am – 6:00 pm Central Time
1. The Homebuyer Access℠ grant may help customers purchase a home by providing a $10,000 grant for a down payment, subject to eligibility
requirements. Grant funds cannot be used in connection with the financing of a Wells Fargo real estate owned (REO) property purchase. Repayment
is not required for the grant. To use the grant, the full $10,000 must be applied toward the down payment. We cannot apply less than the full amount.
The down payment grant is available in certain areas. Eligibility for grant money will not be confirmed until underwriting is complete.
Eligibility requirements:
Loan type: The grant may be used with a Wells Fargo fixed-rate conventional loan only. Loan types, such as non-conforming loans, government loans, conventional adjustable-rate mortgages, are not eligible.
Income: The total qualifying income of all borrowers must be less than or equal to 120% of the area median income in the county where the subject property is located.
Location: The borrower’s verified current permanent residential address must be located in an eligible area or the subject property the borrower is purchasing must be located in an eligible area.
Occupancy: The borrower must occupy the subject property they are purchasing as their primary residence.
Contact a home mortgage consultant to discuss eligibility requirements.
Possible tax implications: If the customer chooses to accept the grant, the funds received may be considered additional
taxable income and will be reported on Form 1099-MISC for the primary borrower (the first person listed on the loan) on the application. This means the
borrower may owe taxes on that additional income. The grant funds received may also affect any eligibility for income-based assistance, such as government
programs like student loan payment relief or other government payments that may be based on income. Before accepting this grant, please have the customer
speak with their tax advisor to understand if their taxes may be affected by this grant.
2. The Homebuyer AccessService Mark grant may be combined with Dream. Plan. Home.Service Mark closing cost credit, Corporate Mortgage Benefit Program, Union Plus® Mortgage program, non-Wells Fargo funded down payment assistance programs (DAPs), Builder Credits, and the Employee Mortgage Program. Standard Agency underwriting guidelines apply.
Wells Fargo Home Mortgage is a division of Wells Fargo Bank, N.A. © 2024 Wells Fargo Bank, N.A. NMLSR ID 399801.
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