Northern Texas and many anxious resident will be on the receiving end of a very welcomed chance to become homeowners right in their own community. Known for having ownership rates that are far below many other areas in the state, a local lender is stepping in to make a difference. Residents will have the opportunity to participate in the Affordable Housing Loan Program. This program will be offered by Dallas Neighborhood Homes, a nonprofit mortgage servicing provider. Dallas Area Habitat for Humanity will also participate as together they will offer 100 or more loans each year across the next five years.
As an initiative put in place to help the many who would otherwise not have the means to obtain a mortgage for home ownership, the Affordable Housing Loan Program aims to fund expansion efforts associated with this particular area of Texas. Regional bank NexBank SSB, is offering up to $50 million toward the program and future loan recipients. Additionally, NexBank will cover closing costs and title fee up to $2,000. Not only will financial assistance be provided, but homeowner counseling for these new homeowners will be available as well.
Senior Vice President of Mortgage Operations at Dallas Area Habitat for Humanity, Mark Tribuna, stated that “We’re very grateful to NexBank for helping to make affordable home ownership a reality for so many people who need it.” The joint venture between the two organizations is an ideal partnership given that both have plenty of experience with aiding lower-income families and their goals of home ownership.
NexBank SSB is an institution with many years in the financial sector. Since 1922 it has made commercial and mortgage banking and other financial services available to clients both on the corporate and individual level. NexBank is a local leader with much experience and many resources readily available to help local efforts work toward a prosperous future.