DALLAS--(BUSINESS WIRE)--First National Bank Texas (FNBT) and the Federal Home Loan Bank of Dallas (FHLB Dallas) presented $72,000 to the Dallas Area Habitat for Humanity in a ceremonial check presentation on Wednesday.
FNBT and FHLB Dallas provided the funding from FHLB Dallas’ Homebuyer Equity Leverage Partnership (HELP) program in 2022 to help 12 income-qualified, first-time homebuyers with down payment and closing cost expenses connected to the construction of their homes through Dallas Area Habitat for Humanity.
Kellye Coleman, a 37-year-old customer service representative and single mother of three, had been dreaming of making the transition from renting to homeownership as the rent on her two-bedroom apartment increased each year. Thanks to a no-interest mortgage from Dallas Area Habitat and a $6,000 HELP subsidy, she moved into a four-bedroom, two-bathroom home in Dallas’ historic Joppa neighborhood in May.
“I have always wanted to give my children their own bedrooms,” Ms. Coleman said. “We have a huge yard now, and my kids can just run and play outside which they have never been able to do before.”
In addition to having their own backyard, Ms. Coleman’s children live close to their schools and can enjoy nearby nature trails.
“Down payments and closing costs can be barriers to homeownership, and we are thrilled to have had the opportunity to partner with FHLB Dallas to contribute to the purchasing of new affordable homes in the Dallas metropolitan area,” said Pedro Beascochea Jr., vice president Community Development Innovation specialist at First National Bank Texas.
HELP subsidies are offered by FHLB Dallas through its member institutions to assist first-time homebuyers with down payments and closing costs on new or existing homes. For 2022, FHLB Dallas set aside $4 million for HELP subsidies made available through its members on a first-come, first-served basis.
“We are honored to partner with FNBT to make the dream of homeownership a reality for Ms. Coleman and the 11 other families who have moved into these homes,” said Bruce Hatton, vice president and Affordable Housing Program manager at FHLB Dallas.
For more information about HELP, visit fhlb.com/help.
About First National Bank Texas
First National Bank Texas (FNBT) and First Convenience Bank (FCB), a division of FNBT, remain dedicated to providing customers with quality financial products and services. Our bank was originally founded in 1901 in the Central Texas town of Killeen, only 19 years after the city was established. From our humble beginnings, we have grown to over $3.7 billion in assets and operate in over 340 locations in Texas, Arizona, Arkansas, and New Mexico.
About Dallas Area Habitat for Humanity
Through affordable homeownership opportunities, financial education, advocacy, and neighborhood empowerment programs, Dallas Habitat transforms families, revitalizes neighborhoods, and is working together to build a better Dallas. Strategically bringing together public and private funding, community leadership and vision, and thousands of volunteers — we will break the cycle of poverty and transform our communities. Using affordable homeownership as an anchor for hope, change, and stability, Dallas Habitat has served more than 2,100 low-income families since 1986, resulting in an investment of nearly $200 million in more than 25 Dallas area neighborhoods. Learn more at dallasareahabitat.org.
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 $77.7 billion as of June 30, 2022, serves approximately 800 members and associated institutions across our five-state District of Arkansas, Louisiana, Mississippi, New Mexico and Texas. FHLB Dallas provides financial products and services including advances (loans to members) and grant programs for affordable housing and economic development. For more information, visit our website at fhlb.com.