Families in Southern Dallas will now be able to receive affordable housing loan program. The decision was reached upon after a partnership that was agreed by Dallas Neighborhood Homes, a nonprofit mortgage service provider, and Dallas Area Habitat for Humanity. The partnership is aiming to offer over 100 loans per year in the next five years to low-income residents.
NexBank will be expected to provide loans valued at over $50 million to support the program over the next five years. The Dallas Neighborhood Homes is scheduled to utilize the proceeds to offer loans to low-income residents who have little or no access to mortgages. Further, The Dallas Area Habitat for Humanity will develop a financial counseling platform for advising and preparing the low-income home buyers for home ownership.
The management of Dallas Area Habitat for Humanity appreciated the move by NexBank to finally make the dream of owning a home to reality for the low-income residents. With the reported lower home ownership rates in North Texas, making homes affordable to this category of people is expected to solve the problem. The living standards will be consequently improved, and their children will have higher chances of having better lives in future.
Founded in 1934, NexBank has grown to have 89 employees in three different locations. The bank is ranked as 16th largest bank in Texas and 266th the US and has its headquarters in Dallas. Nexbank has over $ 3.5 billion worth of assets and offers the best mortgage, investment banking, and corporate advisory services.
The management of the bank combines expertise, devotion and focus on serving all categories of clients. Additionally, the bank provides excellent and unmatched tailored solutions, which are delivered by their professionals who have an admirable reputation. Besides, the bank enjoys a 2X rating in national money rates and an A in health rating.