Wells Fargo Dream Plan Home Closing Cost Credit

What is Wells Fargo Dream Plan Home Closing Cost Credit?

Wells Fargo Dream Plan Home Closing Cost Credit is a grant for homebuyers in New Jersey, administered by Wells Fargo Bank, N.A.

• The Wells Fargo Dream. Plan. Home. closing cost credit provides borrowers at or below 80% of area median income up to $5,000 toward closing costs. Available in 18 metro areas and combinable with the Homebuyer Access grant for up to $15,000 from Wells Fargo toward a home purchase.
• Up to $5,000 toward closing costs.
• No repayment.
• Combinable with Homebuyer Access grant (up to $15,000).
• Funding comes from Wells Fargo Home Lending (lender closing-cost credit).

How much assistance does it provide?

Wells Fargo Dream Plan Home Closing Cost Credit offers up to $5,000 in assistance.

• Amounts are the program's published maximums, not an offer — Wells Fargo Bank, N.A. determines any individual award.

Do you have to pay it back?

Wells Fargo Dream Plan Home Closing Cost Credit is structured as a grant, so it is not repaid.

• Repayment is triggered by None - credit, no repayment.
• Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

Wells Fargo Dream Plan Home Closing Cost Credit is open to buyers who will live in the home as their primary residence.

What are the income limits?

Wells Fargo Dream Plan Home Closing Cost Credit limits household income to 80% of the area median income, which varies by county and household size.

• Borrower income <= 80% of AMI where the property is located.
• Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

What kind of home can it be used for?

Wells Fargo Dream Plan Home Closing Cost Credit can be used for Single Family, Condo, and Townhouse.

Where does it apply?

Wells Fargo Dream Plan Home Closing Cost Credit serves buyers purchasing anywhere in New Jersey.

• The program targets specific areas: Available in 18 metro areas incl. those covering NJ (NY-Newark-Jersey City and Philadelphia-Camden); confirm at wellsfargo.com.

How do you apply?

Applications for Wells Fargo Dream Plan Home Closing Cost Credit go through Wells Fargo Bank, N.A., which publishes the current terms and the application steps on its own site.

1. 1

   Contact Wells Fargo Bank, N.A. to reserve funds

   Funds are reserved with the provider and are subject to availability.

2. 2

   Work with a lender who handles the program

   Hey Prescott is not a lender and does not accept applications; this page describes the program so a buyer can take it to a lender or housing counselor.