Federal Home Loan Bank of Dallas Commits Nearly $100 Million to Four Key Affordable Housing Initiatives
30 Abril 2024 - 9:56AM
Business Wire
The Federal Home Loan Bank of Dallas (FHLB Dallas) has made
available $99.4 million in grants this year through its Affordable
Housing Program (AHP) and AHP homeownership programs. View the $100
Million in AHP video to see the impact of the programs.
“Our nation has a critical shortage of affordable housing
options,” said FHLB Dallas President and CEO Sanjay Bhasin. “We
have options for homeowners and renters through our programs, which
provide very low- to moderate-income residents, older residents and
people with disabilities access to affordable housing.”
Of the total funding, $79.4 million was allocated to the AHP
General Fund, which provides grants to assist FHLB Dallas members
in financing the purchase, construction and rehabilitation of
owner-occupied, rental or transitional housing and housing for
homeless individuals.
In addition to the AHP General Fund availability, FHLB Dallas
also made the following 2024 allocations to AHP homeownership
programs:
- $15.5 million for the Homebuyer Equity Leverage Partnership
(HELP), which provides grants for down payment and/or closing cost
assistance for eligible first-time homebuyers.
- $2.5 million for Disaster Rebuilding Assistance (DRA), which
provides grants for homeowner repairs in FHLB Dallas’ District
(Arkansas, Louisiana, Mississippi, New Mexico and Texas) that have
been declared disaster areas eligible for individual assistance by
the Federal Emergency Management Agency (FEMA).
- $2 million for the Special Needs Assistance Program (SNAP),
which funds home repairs and modifications such as wheelchair ramps
and wider doors to meet the needs of households containing a
resident with special needs.
Homeowners and nonprofits access the funds through FHLB Dallas
member financial institutions.
“The HELP program sponsored by FHLB Dallas has been tremendous
in helping Red River Bank create affordable housing in all of our
markets,” said Senior Vice President Jannease Seastrunk, community
relations & CRA officer at Red River Bank. “We’ve been able to
create numerous housing opportunities for low-income families
throughout the entire state of Louisiana.”
The following funding windows are available or approaching:
- AHP General Fund applications must be submitted by May 1
- DRA will offer a second round of funding on July 8
- HELP funding is available until December 31, 2024, or until
funds are exhausted, whichever occurs first
- SNAP opens a new round of funding from June 6 to June 8,
2024
See the FHLB Dallas Community Programs for more information.
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 $125.1 billion as of March 31, 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.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240429260804/en/
Corporate Communications Federal Home Loan Bank of Dallas
fhlb.com (214) 441-8445