- February 24, 2021
- Bulletin No: 2021-03
In response to the devastation caused by the recent winter storm in Texas, the Federal Home Loan Bank of Dallas (Bank) has activated its Disaster Relief Program (DRP), a low-cost advance program, to assist recovery efforts in the affected areas. Additionally, affected residents in the Bank’s member communities that have been declared disaster areas eligible for individual assistance by the Federal Emergency Management Agency (FEMA) are eligible for the Bank’s Disaster Rebuilding Assistance subsidies.
View the Texas counties eligible for individual assistance here.
The DRP makes subsidized advances available to members to assist individuals and families whose homes or businesses were damaged or destroyed as a result of the storm.Under the DRP:
- Funds are priced below the Bank’s regular Community Investment Program rates
- Income eligibility limits are expanded to 165 percent of the area median income
- Advance terms range from three months to 40 years
Click here for more information on DRP or contact Member Services at 844.FHL.BANK (844.345.2265).
Disaster Rebuilding Assistance:
- Subsidies are available, through the Bank’s member financial institutions, to homeowners who are at or below 80 percent of the area median income, up to $10,000 for repair and construction costs not covered by insurance or federal or state emergency assistance
- Homes must be located within the counties listed in the link above or any counties that are subsequently declared as disaster areas by FEMA
- Homeowners must have 30 days of current ownership and must have had primary ownership of the home as of the date of the FEMA disaster declaration
- Disaster Rebuilding Assistance is a subsidy and, as such, the funds are not repaid
- Subsidies are available on a first-come, first-served basis
Sanjay K. Bhasin
President and Chief Executive Officer