SANTA FE, New Mexico–(BUSINESS WIRE)–March 22, 2022–
Artist Anita L. West lives in Santa Fe, a dream city for many artists, but also a great place to live.
Anita L. West, an artist from Santa Fe, New Mexico, purchased a condo with the help of a $5,500 grant from the Homebuyer Equity Leverage Partnership of FHLB Dallas and NMB-T. (Photo: BusinessWire)
Ms West, 77, hadn’t owned her own home since becoming a tenant after the Great Recession, but she never gave up hope that she would have that opportunity again.
As rents continued to rise, she began exploring buying options and got in touch with a housing agency known as Homewise after hearing about it from a friend.
Homewise, in turn, suggested that Ms. West apply for the Homebuyer Equity Leverage Partnership (HELP), a Federal Home Loan Bank of Dallas (FHLB Dallas) program in which the down payment and closing cost assistance are provided through member FHLB Financial Dallas. establishments.
Ms. West was able to move into a one-bedroom condo she purchased with a $5,500 HELP grant provided by New Mexico Bank & Trust (NMB-T) and FHLB Dallas.
“HELP funds meant I didn’t have to deplete my savings for the down payment, so I still had reserves and funds for upgrades,” she said. “I also no longer have the uncertainty that comes with rising rents.”
NMB-T awarded $115,500 in HELP grants in 2021 to 21 individuals.
“With soaring home prices, programs like HELP are more important than ever for tenants looking to access homeownership,” said Trevor Lewis, senior vice president and commercial team leader at NMB-T. . “We are grateful to have this partnership with FHLB Dallas that makes home ownership a reality.”
Greg Hettrick, senior vice president and director of community investment at FHLB Dallas, said members and housing agencies have done a great job raising awareness of HELP.
“We are grateful for our partnership with NMB-T; they were a heavy user of HELP last year and continue to use the HELP grant this year to make home ownership a reality for New Mexicoers,” he said.
For 2022, FHLB Dallas has set aside $4 million available to its members on a first-come, first-served basis. To visit fhlb.com/help to see the current availability of HELP funds.
About New Mexico Bank & Trust
New Mexico Bank & Trust, a subsidiary of Heartland Financial USA, Inc., operating under the HTLF brand, is a community bank with over $2.6 billion in assets and operates 24 offices located in central, northern and eastern New Mexico as well as Northwest Texas. The bank specializes in business lending and deposit services and offers a wide variety of personal credit and deposit services as well as comprehensive electronic banking programs. New Mexico Bank & Trust is a member of the FDIC and an equal housing lender.
About Federal Home Loan Bank of Dallas
Federal Home Loan Bank of Dallas is one of 11 district banks in the FHLBank system established by Congress in 1932. FHLB Dallas, with total assets of $63.5 billion as of December 31, 2021, is a cooperative owned by its members that supports housing and community investment by providing competitively priced loans and other credit products to approximately 815 members and associated institutions in Arkansas, Louisiana, Mississippi, New Mexico and Texas . For more information, visit fhlb.com.
CONTACT: Corporate Communications
Federal Home Loan Bank of Dallas
KEYWORD: UNITED STATES NORTH AMERICA TEXAS NEW MEXICO
INDUSTRY KEYWORD: CONSTRUCTION & REAL ESTATE SENIORS FINANCE BANKING PROFESSIONAL SERVICES PHILANTHROPY FUNDRAISING CONSUMER OTHER PHILANTHROPY RESIDENTIAL BUILDING & REAL ESTATE
SOURCE: Federal Home Loan Bank of Dallas
Copyright BusinessWire 2022.
PUBLISHED: 03/22/2022 17:11 / DISK: 03/22/2022 17:11
Copyright BusinessWire 2022.