Applying for a mortgage can be a frustrating situation especially for those who have limited coverage. Case In Point: Dallas’ Affordable Housing Loan Program is making it much easier for lower income families afford a new home. This process has many stages, but with the help of three of the most prominent names in the area, home ownership can be a reality. Habitat For Humanity, Dallas Neighborhood Homes, and NexBank are working together and picking up the slack to achieve success. Habitat For Humanity is the biggest home non-profit home builder in the Dallas Metropolitan Area and has built over 1,600 homes in the city. Dallas Neighborhood Homes is a successful non-profit mortgage banker assists home buyers in securing an affordable home.
Raising the funds to make this into a reality can be utterly difficult, but one of Dallas’ premier financial institutions is lending a helping hand,” pun intended.” NexBank enters the picture and is providing up to $50 Million in loan support for limited access families. Being such a huge successful financial institution, NexBank will cover $2,000 in closing costs and additional fees. This will certainly change the landscape in the city and should be used a model throughout the U.S. NexBank is doing what many other banks wouldn’t even consider, but with $3.5 Billion in assets, this bank sets itself apart from many of the rest.
The program will last for five years with an end goal of achieving 100 or more loans for each year. This program isn’t just financially rewarding, but it’s rather morally rewarding as it gives deserving families a better quality of life.