MARRERO, La., July 31, 2014 /PRNewswire/ -- All Rasheed
Kelly wanted was a home in a nice neighborhood so her kids could
safely play outside. The 35-year-old single mother of six said her
rental house was not in a good neighborhood.
"My family and I needed to live somewhere where I wouldn't worry
when my kids were playing in the front yard," said Ms. Kelly, a
server at a local restaurant. "It was a goal of mine to buy a nice
home that I could pass down to my kids, but I never thought it
would happen since I didn't have a down payment."
Ms. Kelly met with Prax Melancon,
vice president and mortgage CRA development officer at IBERIABANK.
He identified that Ms. Kelly qualified for a grant through the
Federal Home Loan Bank of Dallas'
(FHLB Dallas) Homebuyer Equity Leverage Partnership (HELP) grant
program, to assist with her down payment.
HELP grants are offered by FHLB Dallas through its member
institutions, like IBERIABANK, to provide income-qualified,
first-time homebuyers, up to $7,000
in grant funds to assist with down payments and closing costs.
To date in 2014, IBERIABANK has utilized $18,000 in HELP grants to assist four families
with down payments and/or closing costs.
"Through our partnership with the HELP program, we are honored
to support Ms. Kelly's dream of being a homeowner," said IBERIABANK
New Orleans President Hunter
Hill.
A $5,000 HELP grant was awarded to
Ms. Kelly through FHLB Dallas and IBERIABANK. The grant was applied
toward her down payment which reduced the amount of her monthly
mortgage payment.
"I am so thankful for the HELP grant, as it made my payment
affordable," said Ms. Kelly. "My kids and I are so happy that now
we are in a safe neighborhood."
Since its inception, FHLB Dallas has awarded nearly $14.3 million in HELP grants to assist more than
2,700 families. For 2014, FHLB Dallas has made available
$1 million in HELP funds through its
members. To learn more about HELP and other FHLB Dallas grant
programs, please visit fhlb.com.
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 $33.6 billion as of
June 30, 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 the FHLB Dallas website at 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