Programs and Services：PCDC Helps Homebuyers Apply for Down Payment Assistance
On March 1st, PCDC Program Manager Ping Ho Lee attended a meeting about building communities through homeownership. At this event, Wells Fargo announced the NeighborhoodLIFT program, which provides homebuyers up to $7500 down payment assistance. With only one month for homebuyers to qualify and apply for down payment assistance, Ping immediately got to work. She created flyers and posters to inform the community about this valuable opportunity and hosted a bilingual workshop on eligibility for the program. Six of eight workshop attendees signed up to attend the NeighborhoodLIFT program registration and launching on April 1st, and four clients have continued with the program.
Since most of PCDC’s clients are limited English proficient, Ping, Program Associate Iris Liang, and Housing Counselor Wendy Lee invested substantial time to assist our clients through the entire process, which continues today. Iris interpreted and helped the clients complete their registration on April 1st. Wendy and Ping helped clients complete their eight-hour homebuyer education sessions with New Kensington CDC or with PCDC using “eHome America” online. Now clients are either house hunting, or applying for their mortgages, as our housing counselor continues to work with them. We expect that they will be successful as we make the homebuying and mortgage process easier to understand.
Navigating the homebuying process can be challenging, especially for first-time buyers or those facing language barriers. Organizations like PCDC play a vital role in bridging the gap, ensuring that clients have the resources and support needed to make informed decisions. From registration to mortgage applications, having a knowledgeable team guiding buyers through each step can make all the difference. Homeownership is a major milestone, and with the right assistance, more individuals can achieve their dream of owning a home.
However, purchasing a home is just the beginning—long-term financial stability is equally important. Homebuyers should educate themselves on foreclosure prevention tips to safeguard their investment. Staying on top of mortgage payments, setting aside an emergency fund, and maintaining open communication with lenders can help prevent financial difficulties down the road. Many organizations also offer counseling services to assist homeowners in managing unexpected financial challenges, ensuring they remain in their homes for years to come.
Overall Wells Fargo has invested more than $300 million in LIFT programs. Here in Philadelphia Wells Fargo invested $5 million to help Philadelphia residents become homeowners. This program was launched on Friday April 1st and Saturday April 2nd with the assistance of NKCDC and NeighborWorks America.
PCDC staff attends workshops and trainings to educate and deliver programs and services to our community.