Thousands Available to Homebuyers for Down Payment Assistance

Thousands Available to Homebuyers for Down Payment Assistance

Shelby County home buyers will be able to apply for down payment assistance to the tune of $15,000 on Friday, November 30.
MEMPHIS, TN (abc24.com) - Shelby County home buyers will be able to apply for down payment assistance to the tune of $15,000 on Friday, November 30.

The Helping Homebuyers Program will take place at the Cook Convention Center in downtown Memphis.

Wells Fargo gave the city and county more than $7 million after it was sued for predatory lending. The bank was accused of charging thousands of black and Latino borrowers higher fees than whites, and pushing minorities into costly sub-prime loans.

According to Tom Petronis, Wells Fargo Spokesperson, "Our goal was to invite people to come down to this event to get pre-qualified for their mortgages in an inviting setting where there are places for kids to enjoy while parents are taking care of business. You can conduct a virtual tour of a home, you can look at screens and get some home buyer education, and there's just a plethora of things here that will be going on as people work through this event."

Applicants will have to meet an income requirement and take home ownership classes.

The homebuyer workshops take place Friday and Saturday at the Cook Convention Center from 10 a.m. to 7 p.m.

For more information on the program, visit www.helpingmemphishomebuyers.com

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