Home ownership is a great way for families to build up their wealth and become valuable members of the Dallas, Texas community. A well-established local Dallas bank – NexBank – is partnering with the local branch of “Habitat for Humanity” to provide at least 100 loans each year to low-income residents in southern Dallas. The program is targeting specific zip codes to improve these communities.
“Making the American Dream a reality, one home at a time”
Habitat for Humanity was founded in 1976 as a great way for volunteers to help with constructing dwellings for the poor. The local Dallas Area branch is partnering with Dallas Neighborhood Homes, which is a nonprofit mortgage servicing provider to help out low-income individuals purchase homes. NexBank is providing up to $50 million in loans to Dallas Neighborhood Homes.
After the sub-prime mortgage crisis of 2008, some banks have been holding back mortgage services to low-income homebuyers. NexBank has promised to pay closing title costs plus up to $2,000 per loan to help Dallas residents get their Habitat for Humanity home.
Dallas Area Habitat for Humanity Senior Vice President Mark Tribuna thanked NexBank for its financial backing: “We’re very grateful to NexBank for helping to make affordable home ownership a reality for so many people who need it. North Texas currently has one of the lowest ownership rates in the nation and the Affordable Housing Loan Program that Dallas Neighborhood Homes offers directly addresses the problem.”
NexBank Chief Operating Officer and Executive Vice President Matt Siekielski said “Both organizations have a strong record of helping lower-income families secure affordable homes in the North Texas community.” The future for low-income families in Dallas is bright thanks to Habitat for Humanity and NexBank.
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