Applying for a mortgage can be frustrating, especially in times of a slow economy. Banks just aren’t willing to work with many of it’s clients/customers. Financing plays a pivotal role in the mortgage process, but hope has finally made it to Dallas, Texas in the form of three organizations. Habitat For Humanity, Dallas Neighborhood Homes, and NexBank have partnered up to give specific individuals/families a chance of owning their very own home.
This partnership handles each process of the transaction perfectly. Being non-profit, (Habitat)and Dallas Neighborhood Homes will handle the support, counseling, and identification process while NexBank takes care of the finances. This is a stand up move for the regional banking institution. In such depressed economic situations, most banks wouldn’t consider making a business move of this degree. NexBank stands out from the pack thanks to it’s expertise, leadership, and net worth. The bank has an estimated $3.5 Billion in assets and specializes in many of the services needed to greenlight this operation. TheAffordable Housing Loan Programis expected to last for five years and are looking to provide over 100 loans each year. NexBank steps in with it’s grand $50 Million loan support which fits the program perfectly.
These loans will take away the city’s burden and give families a chance to have something of their own, which benefits the adults and kids thanks to Nexbakn. A higher quality life is the goal and can be expected from this program. All of the pieces are in place to create a much brighter future for Southern Dallas families.