Unfortunately, statistics show that very few people in the Northern Dallas area own their own homes. In fact, many people throughout the community feel that increased home ownership would benefit both new homeowners and the residents currently living in the neighborhoods they move into, by providing diversity, stability and enriching experiences.
In order to help people with lower incomes own their first home, 3 of Dallas’ top organizations, (Habitat for Humanity, Dallas Neighborhood Homes and NexBank), have teamed up to extend at least 100 loans to deserving local families.
Habitat for Humanity, a nationally recognized organization, (now working with Nexbank) has thus far built a record 1600 homes and is currently the largest charity home builder in Dallas. They currently build about 50 homes every year and have been in the Dallas home building business for over 30 years. The organization works with both public and private funders to secure the money they need to achieve their goals which include:
• Breaking the cycle of poverty,
• Transforming communities,
• Transforming families, and
• Bringing new life to neighborhoods
Dallas Neighborhood Homes is an organization unique to Dallas. Though the organization is a mortgage banking agency with a state license, Habitat for Humanity established the group to help homebuyers secure mortgages for their homes. The organization’s goals are to:
• Make loans possible where other lenders will not,
• Make home loans accessible for every borrower,
• Increase diversity throughout Dallas neighborhoods, and
• Increase nonbiased buying power for poor and moderate income home buyers.
Their motto is, “Making the American Dream a Reality One Home at a Time.”
NexBank is one of the most successful FDIC member banking entities in the Dallas region. Their assets are approximately $3.5 billion and their bank charter dates back to 1922. NexBank is proud to participate in any charitable programs that will help to make life in their hometown better for all residents.
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