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Dallas Area Habitat for Humanity receives funding for first-time homeowners

Photo By Asia Nicole Alcorn

First National Bank Texas and the Federal Home Loan Bank
Subsidy recipient Kellye Coleman, along with representatives from Dallas Area
Habitat for Humanity, First National Bank Texas and the Federal Home Loan Bank of Dallas. Photo: Asia Nicole Alcorn

Kellye Coleman, a 37-year-old customer service representative and single mother of three, had been dreaming of making the transition from renting to homeownership as the rent on her two-bedroom apartment increased each year.

Thanks to a no-interest mortgage from Dallas Area Habitat and a $6,000 subsidy, Coleman and her family moved into a four-bedroom, two-bathroom home in Dallas’ historic Joppa neighborhood in May.

First National Bank Texas and the Federal Home Loan Bank of Dallas presented a ceremonial check of $72,000 in Homebuyer Equity Leverage Partnership (HELP) subsidies to the Dallas Area Habitat for Humanity.

HELP subsidies are offered by FHLB Dallas through its member institutions to assist first-time homebuyers with down payments and closing costs on new or existing homes. For 2022, FHLB Dallas set aside $4 million for HELP sub-sidies made available through its members on a first-come, first-served basis.

The $72,000 helped 12 income-qualified, first-time homeowners with down payment and closing costs in connection with purchasing Habitat homes.

“I have always wanted to give my children their own bedrooms,” Coleman said. “We have a huge yard now, and my kids can just run and play outside which they have never been able to do before.”

In addition to having their own backyard, Coleman’s children live closer to their schools and can enjoy nearby nature trails.

“We are honored to partner with FNBT to make the dream of homeownership a reality for Ms. Coleman and the 11 other families who have moved into these homes,” said Bruce Hatton, Vice President and Affordable Housing Program manager at FHLB Dallas.

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