Wells Fargo To Help Some Baltimoreans Buy Homes

If you’re looking to buy a home in Baltimore City, some help is on the way. As Derek Valcourt explains, mortgage giant Wells Fargo will now offer $15,000 of down payment assistance to qualifying homebuyers.

When the country’s financial crisis hit and the housing market crashed, the US Justice Department accused Wells Fargo of discriminatory lending practices. Now as part of a settlement, Wells Fargo will commit $4.5 million in down payment assistance grants to qualifying Baltimore homebuyers. That means 300 homebuyers in Baltimore could soon get $15,000 toward a down payment on their home.

“In spite of low interest rates, saving up a down payment can be the biggest barrier to home ownership for hardworking families. Down payment assistance of $15,000 makes home ownership immediately more available and more affordable,” said Andy Bertamini, Wells Fargo. 
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