The Dallas based nonprofit mortgage servicer, Dallas Neighborhood Homes, recently announced a five year mortgage program geared towards helping low income families in the Dallas area. Dallas Neighborhood Homes will be teaming up with the local Dallas Habitat for Humanity for the program which goal is to provide 100 loans a year for the next five years to low income families. The program is designed to help increase home ownership in the Dallas area while also helping families in need.
NexBank Partners with Dallas Neighborhood Homes To Expand Affordable Home Ownership in Southern Dallas
Regional bank NexBank SSB will also be contributing to this program by providing $50 million dollars for loans over the next five years. The way the program will be set up is that Dallas Neighborhood Homes will lend the money provided by NexBank to low income families who typically would not have access to the mortgage market. Habitat for Humanity will be providing financial counseling to the families to help educate them on home ownership. In addition to providing the funding for the loans it was announced that NexBank will also be paying for the title fees at closing and will be offering $2,000 in credits per loan when the closing is handled by a NexBank affiliate.
For those familiar with the Dallas based bank, it will come as no surprise that Nexbank will be participating in this project as NexBank is well known for supporting local causes that help improve the quality of life for Dallas Residents. For example in the past, the bank has donated $10 million to a Texas charter school to expand into Dallas. In addition the bank is well known for raising significant amounts of money for US Troops and their families.
NexBank has been in the Dallas area since 1922 and currently has $3.5 billion in assets under management. NexBank provides their clients with various financial solutions to their commercial and private banking needs.