$8,000 Subsidy Empowers Resident Homeownership

Desire Brown’s dream of becoming a homeowner has come to fruition, thanks to a generous $8,000 Homebuyer Equity Leverage Partnership (HELP) subsidy, a Business Wire. The Federal Home Loan Bank of Dallas (FHLB Dallas) facilitated this milestone by awarding the funds through one of its member institutions, Citizens National Bank. Because of the program she has been empowered to realize her homeownership dream.

As part of its commitment to affordable housing, FHLB Dallas earmarked $6.5 million of its 2023 Affordable Housing Program funds for HELP. This innovative program is designed to provide essential support in homeownership from income-qualified, first-time homebuyers, assisting them with crucial down payments and closing costs.

For Ms. Brown, a 34-year-old medical assistant residing in Jackson, Mississippi, this subsidy served as a game-changer. “Although I’ve been saving for a home for a long time, Citizens National Bank and HELP gave me the confidence to finally enter the market and make a decision,” she expressed.

The challenges of renting and living in less-than-ideal neighborhoods were the driving force behind her pursuit of homeownership.

Ms. Brown secured her initial mortgage through Citizens National Bank and judiciously used the HELP subsidy to facilitate the down payment and cover closing costs. Tyeisha Smith, Community Development Officer at Citizens National Bank, emphasized the significance of this support in making dreams come true.

“Homeownership is central to the American Dream, and purchasing a home is the biggest decision our customers make. The HELP subsidy has fulfilled so many dreams, and Ms. Brown is the latest addition to this growing list,” Smith stated.

“We wanted to be there for her as she took this significant step, and much of it was made possible by the HELP subsidy.”

Without the unwavering support of Citizens National Bank and HELP, Ms. Brown candidly acknowledges that her current homeownership would have remained a distant aspiration. Since 2018, Citizens National Bank has leveraged HELP funds to assist nearly 50 Mississippi residents in achieving the milestone of homeownership.

Greg Hettrick, Senior Vice President and Director of Community Investment at FHLB Dallas, commended the efforts of Citizens National Bank.

“We strive to provide affordable and flexible funding to our members through programs like HELP and other subsidies. Through their utilization of the program, Citizens National Bank is a great case study in leveraging HELP to meet customers’ housing needs,” Hettrick emphasized.

Ms. Brown’s story is a testament to the transformative impact that strategic initiatives like HELP can have on individuals and communities, ultimately making homeownership a reality for many.

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