October 4th 2023.
Desire Brown's dream of owning a home has become a reality. Thanks to the Federal Home Loan Bank of Dallas and its $8,000 Homebuyer Equity Leverage Partnership (HELP) subsidy, facilitated by Citizens National Bank, Ms. Brown was able to make her dream come true.
In an effort to make housing more affordable, FHLB Dallas allocated $6.5 million of its 2023 Affordable Housing Program funds towards HELP. This program was designed to provide essential help to income-qualified, first-time homebuyers, helping them to afford down payments and closing costs.
Ms. Brown, a 34-year-old medical assistant from Jackson, Mississippi, was grateful for the help. She said, “I’ve been saving for a home for a long time, so Citizens National Bank and HELP gave me the confidence to finally enter the market and make a decision.” She was motivated by the challenges of renting and living in less-than-ideal neighborhoods.
Ms. Brown was able to secure a mortgage through Citizens National Bank and use the HELP subsidy to cover the down payment and closing costs. Tyeisha Smith, Community Development Officer at Citizens National Bank, was moved to see Ms. Brown's dream come to life. She said, “Homeownership is central to the American Dream, and purchasing a home is the biggest decision our customers make. The HELP subsidy has fulfilled so many dreams, and Ms. Brown is the latest addition to this growing list.”
Without the support of Citizens National Bank and HELP, Ms. Brown admits her homeownership would have been a distant aspiration. Since 2018, Citizens National Bank has used HELP funds to assist nearly 50 Mississippi residents in achieving the milestone of homeownership. Greg Hettrick, Senior Vice President and Director of Community Investment at FHLB Dallas, praised the efforts of Citizens National Bank. He said, “We strive to provide affordable and flexible funding to our members through programs like HELP and other subsidies. Through their utilization of the program, Citizens National Bank is a great case study in leveraging HELP to meet customers’ housing needs.”
Ms. Brown's story is a testament to the power of initiatives like HELP to make homeownership a reality for many. The transformation that such programs can bring to individuals and communities is undeniable.
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