Potential homebuyers in Sacramento are getting a financial boost from a $7 million investment from Wells Fargo.
Nick Silva and Lauren Machi walked away from an event Saturday at the Sacramento Convention Center with a $15,000 grant to be used towards the down payment on a new home.
“The reason why the $15,000 helps is because the housing market is hard right now … We don’t have a lot of cash money available,” said Machi.
She hopes the grant allows them to better compete with cash buyers who are flooding the market.
Wells Fargo says the money is an investment towards rebuilding neighborhoods hit hard by the down economy.
“We’re trying to fill up those neighborhoods, try to make them look good again,” said Kenny Harmer with Wells Fargo Home Mortgage.
While most of the money will go to those who attended a special event at the convention center, funds may become available in a couple months if some people find that homeownership is not for them.
Keep in contact with NeighborWorks Sacramento to find out: www.nwsac.org.