• May 23, 2024
• Bulletin No: 2024-16

The Federal Home Loan Bank of Dallas (Bank) has activated its Disaster Relief Program (DRP) in response to the devastation in several Texas counties that was caused by severe storms, straight-line winds, tornadoes and flooding that began on April 26, 2024. DRP makes subsidized advances available to members to assist individuals and families whose homes or businesses were damaged or destroyed by the storms.  

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 

Individuals and business owners located within FEMA-declared disaster areas may apply for the funds through the Bank’s member financial institutions. Texas counties currently eligible for individual assistance are Harris, Liberty, Montgomery, Polk, San Jacinto, Trinity and Walker. View the Texas counties eligible for individual assistance here. DRP advances are available today through November 15, 2024. Click here for more information on the DRP or contact Member Services at 844.FHL.BANK (844.345.2265). 

As of July 8, 2024, $1.25 million will be available in the Bank’s Disaster Rebuilding Assistance (DRA) fund. DRA grants provide funds for the repair and rehabilitation of affected owner-occupied housing in federally declared disaster areas including the Texas counties listed above within FHLB Dallas’ District. Each member may utilize up to $350,000 until the funds are exhausted or until November 15, 2024, whichever occurs first. For more detailed program information, including application forms, visit our website or contact Community Investment at 800.362.2944. 

Under the DRA:  

• Grants are available through the Bank’s member financial institutions to homeowners who are at or below 80 percent of the area median income, in an amount up to $12,000 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 by FEMA to be disaster areas that are eligible for individual assistance  

• Homeowners must have current ownership and must have had primary ownership of the home at least 30 days prior to the related disaster 

• DRA is a grant and, as such, the funds are not repaid, and they are available on a first-come, first-served basis 

To learn more about the DRA and the FHLB Dallas FORTIFIED Fund, which helps income-qualified homeowners replace an existing roof or upgrade the roof on a new construction home to a storm-resistant roof, register for our webinar on June 18, 2024. 

Sincerely, 

Sanjay K. Bhasin 
President and Chief Executive Officer