- June 30, 2023
- Bulletin No: 2023-16
The Federal Home Loan Bank of Dallas (Bank) is pleased to announce that, effective July 3, 2023, it will expand the eligibility for the Housing Assistance for Veterans (HAVEN) program. The program, which until now has been available only to veterans, active-duty, reserve or National Guard service members who became disabled as a result of their military service since September 11, 2001, will now include those service members who became disabled as a result of their military service since August 2, 1990.
HAVEN, which provides up to a $15,000 grant per household, will now also include eligible Gold Star Families impacted since August 2, 1990. For 2023, the Bank has allocated $300,000 for HAVEN, which member institutions may access to assist eligible applicants on a first-come, first-served basis.
Uses of Funds:
- Modify, repair or rehabilitate an existing home to meet the needs of a U.S. veteran or service member
- Offset construction costs of a newly constructed house
- Pay for third-party inspection and developer fees
- Provide funds for down payments and/or closing costs to assist eligible veterans, service members or Gold Star Families purchase their first home
- Households must have a family income of 165 percent or less of the area median income
- The grant recipient may adapt a home that they or a family member plans to purchase and in which they intend to reside
- The grant recipient may adapt a home that they or a family member already own and in which they intend to reside
- If a home is being newly constructed and adapted to meet the needs of the veteran or service member, HAVEN funds may be used to offset new construction costs
- If the HAVEN funds are used for down payment assistance or closing costs, then the grant recipient must qualify as a first-time homebuyer and complete a homeowner counseling course
- The member will pass on the full amount of the HAVEN funds as a grant to benefit the household for which the HAVEN funds were approved
- The member is required to obtain verification of the completed modification within 60 days of funding if a signed cost estimate was utilized to disburse the funds. If HAVEN funds are used for new construction, evidence of the total construction cost is required
- Households may not receive any cash back
HAVEN funds are available until the funds are exhausted or until December 31, 2023, whichever occurs first. See fhlb.com/haven for more information, including program enrollment information and the amount of funds still available, or call 800.362.2944 to reach an affordable housing analyst.
Sanjay K. Bhasin
President and Chief Executive Officer