- February 22, 2022
- Bulletin No: 2022-05
The Federal Home Loan Bank of Dallas (Bank) has increased the allocation for the Homebuyer Equity Leverage Partnership (HELP) subsidies by $1 million, for a total of $4 million available to member institutions. The Bank has also raised the member cap by $50,000 to a maximum of $200,000 per member institution.
Members may use up to $100,000 (half of the member cap) to support homebuyers who reside outside the Bank’s five-state District. The changes come in response to increased member demand for the program due to the rising costs first-time homebuyers face in the current housing market.
HELP provides subsidies up to $11,000 for down payment and/or closing cost assistance for eligible first-time homebuyers. This year, the Bank has removed the $350 member contribution requirement. Members interested in participating in HELP must submit a one-time enrollment application and agreement; thereafter, they will be eligible to request HELP funds during each annual offering. Members that have previously enrolled in the program do not need to enroll again.
Funds are available until exhausted or December 31, 2022, whichever occurs first.
For questions regarding HELP or other community investment programs, please contact Community Investment at 800.362.2944.
Sanjay K. Bhasin
President and Chief Executive Officer