HELP Grant Provides First Home for Single Mother
GONZALES, La., March 12, 2015 /PRNewswire-USNewswire/ -- Taloria Crenshaw, 23, knew it was time to leave the nest. She and her 2-year-old son, Blaise, were living with her parents while she worked as an urgent-care nurse. But even with a good job, Ms. Crenshaw said she found it difficult to save for the down payment on a home.
She turned to Red River Bank, a member of the Federal Home Loan Bank of Dallas (FHLB Dallas), where she learned about the Homebuyer Equity Leverage Partnership (HELP) program. HELP grants are offered by FHLB Dallas through its member financial institutions, like Red River Bank, to assist income-qualified, first-time homebuyers with down payments and closing costs on newly constructed or existing homes.
"HELP grants are crucial for many first-time homebuyers," said Johvanna Simpson, mortgage originator at Red River Bank. "There are many people who can afford a mortgage, but don't have the funds for the down payment and other costs required to purchase a home. HELP grants make homeownership possible for many who thought it was out of their reach."
Ms. Crenshaw was awarded a $7,000 HELP grant that was applied toward her down payment and closing costs. Happy to be a homeowner, Ms. Crenshaw said she and Blaise enjoy spending time in their new home. "He loves having his own room and runs around the house all the time," she said.
In 2015, FHLB Dallas has made $1 million available for the HELP program on a first-come, first-served basis, just as it did in 2014. Red River Bank provided $42,000 in HELP grants in 2014. To date in 2015, Red River Bank has awarded $35,000 in HELP grants to assist income-qualified, first-time homebuyers.
"FHLB Dallas is honored to be able to give back to the communities served by our members," said Greg Hettrick, vice president and director of Community Investment at FHLB Dallas. "We value these opportunities. They make a tremendous difference in the lives of deserving individuals and families."
About Red River Bank
Red River Bank is a full service community bank headquartered in Alexandria, LA. Red River Bank was chartered in 1998 in Rapides Parish and began operating its first banking center in Alexandria in 1999. Red River Bank offers consumer and commercial banking services and products, mortgage lending services, and investment services. For more information, logon to www.redriverbank.net.
About the Federal Home Loan Bank of Dallas
The Federal Home Loan Bank of Dallas is one of 12 district banks in the FHLBank System created by Congress in 1932. FHLB Dallas, with total assets of $38 billion as of December 31, 2014, is a member-owned cooperative that supports housing and community development by providing competitively priced loans and other credit products to approximately 900 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
www.fhlb.com
(214) 441-8445
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SOURCE Federal Home Loan Bank of Dallas
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