DALLAS--(BUSINESS WIRE)--As it has since 2009, demand for home repair grants from the Federal Home Loan Bank of Dallas (FHLB Dallas) continued in 2017. In only seven days, nearly 300 qualified homeowners submitted applications, through more than 40 FHLB Dallas member institutions, for $1.5 million in Special Needs Assistance Program (SNAP) grants.
SNAP grants, which are available only through FHLB Dallas member financial institutions, provide grant funds for the repair and rehabilitation of owner-occupied housing of eligible, special-needs individuals.
“As part of our core mission, FHLB Dallas supports the community housing needs across our District through the Affordable Housing Program (AHP) and grants, like SNAP, which are funded with AHP dollars through our members,” said Greg Hettrick, first vice president and director of Community Investment at FHLB Dallas. “SNAP is a critical link to funding for special-needs homeowners who would otherwise go without urgent home repairs.”
In addition to the SNAP grants, FHLB Dallas annually makes funding available through its Homebuyer Equity Leverage Partnership (HELP) program. Established in 2002, HELP grants are awarded annually on a first-come, first-served basis through FHLB Dallas member institutions to assist income-qualified, first-time homebuyers with down payments and closing costs. As of January 27, 2017, $958,000 of the $1 million offering remained. Visit fhlb.com/HELP for funds remaining and other program updates.
Historically, both programs have supported the housing needs of communities across FHLB Dallas’ five-state District of Arkansas, Louisiana, Mississippi, New Mexico and Texas. Since 2002, more than $16.2 million in HELP grants have helped more than 3,100 qualified families purchase their first homes. Since 2009, more than $10.6 million in SNAP grants have assisted nearly 2,200 special-needs homeowners with critical home repairs including roofs, flooring and plumbing.
To learn more about SNAP, HELP and FHLB Dallas’ other Community Investment programs, visit fhlb.com/community.
About the Federal Home Loan Bank of Dallas
The Federal Home Loan Bank of Dallas is one of 11 district banks in the FHLBank System created by Congress in 1932. FHLB Dallas, with total assets of $58.4 billion as of September 30, 2016, is a member-owned cooperative that supports housing and community development by providing competitively priced advances and other credit products to approximately 850 members and associated institutions in Arkansas, Louisiana, Mississippi, New Mexico and Texas.