Affordable Home Ownership Opportunity for Low-Income Dallas Families
NexBank SSB has partnered with Dallas Area Habitat for Humanity to create a exiting new home ownership opportunity for low-income residents of the southern Dallas region. Dallas currently has a low rate of home ownership compared to the United States overall. The mission of the new Affordable Home Loan Program is to address this need by providing at least 100 home loans each year for the next five years.
NexBank SSB will provide Dallas Neighborhood Homes with up to $50 million in lending capital over the five year period to finance the homes. The Dallas Area Habitat for Humanity created Dallas Neighborhood Homes as a nonprofit mortgage lender to facilitate financing for projects like this one. In addition, NexBank will pay the first $2,000 in closing costs and other fees for each home financed through this program. Habitat for Humanity will provide financial counseling to the low income home buyers who participate in the program.
NexBank SSB is a regional bank headquartered in Dallas. It was chartered
in 1922 and is part of NexBank Capital, Inc. NexBank SSB has assets of about $3.5 billion and is a member of the Federal Deposit Insurance Corporation..
NexBank Capital, Inc. provides a wide range of financial services to the banking industry and has clients all across the country. NexBank focuses on three areas of banking: investment banking, commercial banking and mortgage banking. The company’s clients include commercial banks, lending institutions, mortgage banks and individuals.