Federal Home Loan Bank of Dallas Allocates $1M to Veteran’s Housing Assistance

DALLAS--(BUSINESS WIRE)--The Federal Home Loan Bank of Dallas (FHLB Dallas) has allocated $1 million for its Housing Assistance for Veterans (HAVEN) program – up from $300,000 in 2024 – and has expanded the criteria to serve more veterans and service members.

HAVEN is open to active service members, veterans, reservists and National Guard members who suffered a service-related disability and is also available to Gold Star Families. Funds may be used for service-related home modifications, new construction costs and first-time homebuyer down payment assistance. The program was previously open to those who served after August 2, 1990. Now the program is open to all U.S. service members who have a service-related disability, regardless of when they served.

“We have helped veterans in Mississippi receive grants for the last several years, and it’s been life-changing for them,” said Cheryl Bruce, founder and director of Wounded Warriors in Mississippi. “It’s fabulous that it is opening up to more veterans because it is such a great program.”

The maximum grant per household has also increased from $20,000 last year to $25,000 for 2025. Applicants must reside in Arkansas, Louisiana, Mississippi, New Mexico or Texas.

“We believe in this program,” said Group CRA Director Virgil Miller of Bentonville, Arkansas-based Arvest Bank, which has been involved in the program for many years. “We plan on being aggressive in getting the word out with veteran support groups about the expanded program. It’s a win-win for veterans and for our communities.”

Funding is provided on a first-come, first-served basis until funds are exhausted or December 31, 2025, whichever occurs first.

Applications will be accepted beginning Monday, February 3, 2025. Applicants must apply through a participating FHLB Dallas member. Veterans’ organizations may serve as intermediaries to submit applications on behalf of veterans.

“We wanted to be able to reach more veterans and Gold Star Families, who have sacrificed so much for our country,” said Greg Hettrick, senior vice president and director of Community Investment at FHLB Dallas. “The program was conceived when the U.S. military was engaged in the Afghanistan and Iraq conflicts following 9/11 and originally focused on helping meet the needs of veterans from those conflicts. We hope the expanded program and additional funding will be life-changing for service members and their families.”

Learn more about the HAVEN program and the community investment programs at FHLB Dallas.

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 $129.4 billion as of September 30, 2024, 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 fhlb.com.