An $8K Subsidy Gives a Mississippi Homeowner the Boost Needed to Buy a Home

FHLB Dallas and Citizens National Bank Provide Down Payment Assistance

JACKSON, Miss.--(BUSINESS WIRE)--Thanks in part to an $8,000 Homebuyer Equity Leverage Partnership (HELP) subsidy, Desire Brown is now a proud homebuyer. The Federal Home Loan Bank of Dallas (FHLB Dallas) awarded the funds through its member, Citizens National Bank.

FHLB Dallas set aside $6.5 million of its 2023 Affordable Housing Program funds for HELP. Through member institutions like Citizens National Bank, HELP assists income-qualified, first-time homebuyers with down payments and closing costs.

“Although I’ve been saving for a home for a long time, Citizens National Bank and HELP gave me the confidence to finally enter the market and make a decision,” said Ms. Brown, a 34-year-old medical assistant, in Jackson, Mississippi. “Renting was difficult, and the neighborhoods weren’t the best environment for my kids.”

Ms. Brown received an initial mortgage from Citizens National Bank and used the HELP subsidy to assist with the down payment and closing costs.

“Homeownership is central to the American Dream and purchasing a home is the biggest decision our customers make. The HELP subsidy has fulfilled so many dreams and Ms. Brown is the latest addition to this growing list,” said Tyeisha Smith, community development officer at Citizens National Bank. “We wanted to be there for her as she took this significant step and much of it was made possible by the HELP subsidy.”

Without the support of Citizens National Bank and HELP, Ms. Brown said that she would not have been able to purchase her current home. Since 2018, Citizens National Bank has used HELP funds to assist close to 50 Mississippians in achieving homeownership.

“We strive to provide affordable and flexible funding to our members through programs like HELP and other subsidies. Through their utilization of the program, Citizens National Bank is a great case study in leveraging HELP to meet customers’ housing needs,” said Greg Hettrick, senior vice president and director of Community Investment at FHLB Dallas.

Visit fhlb.com/help for more information.

About Citizens National Bank

As more and more community banks are being acquired by larger regional institutions which have moved ownership and resources out of the state of Mississippi, our bank is more committed than ever to continue operating as an independent, community bank. We proudly serve 15 Mississippi communities with 27 branch locations, and we believe it's critical to Mississippi's future for us to help Mississippians grow and prosper. In fact, we consider our destiny to be one of continuing to earn the right to be Mississippi's Community Bank.

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 $174 billion as of June 30, 2023, is a member-owned cooperative that supports housing and community development by providing competitively priced loans and other credit products to approximately 800 members and associated institutions in Arkansas, Louisiana, Mississippi, New Mexico and Texas. For more information, visit our website at fhlb.com.