Families in lower income brackets of specific Dallas, Texas neighborhoods have something to smile about. Receiving mortgage support for their very own home is possible and with the help of NexBank, will increase the quality of life. This is known as theAffordableHousing Loan Programand many families that are located in certain Southern Dallas zip codes will be benefiting from this service.
The Affordable Housing Loan Program is an ambitious program that’s looking to provide up to 100 or more loans per year, over a span of five years. In order to make this into a reality, special financial support is needed. Most banks will not entertain such a move in such dye economic conditions, but NexBank is not your standard financial institution. The bank is one of the most successful institutions in the Greater Dallas Area and it specializes in commercial, investment, and mortgage banking. As of June 2016, NexBank had an estimated worth of $3.5 Billion in assets and are looking to provide over $50 Million in mortgage support. In addition to the $50 Million, the bank is covering up to $2,000 worth in closing costs and fees.
Making this idea a realty comes from the efforts of Dallas Neighborhood Homes and Habitat For Humanity. These two non-profit agencies are connecting the dots and bridging the gaps. Lower Income families and lenders now have a firm connection and are on the same path to getting things done. The two non-profit service agencies will offer families guidance, support, and counseling during this transition as well, which covers all bases. This three way partnership is changing the status quo and setting new standards in an already competitive market. This is a model of successful mortgage banking and NexBank is leading the way.
Learn more about Nexbank: