- January 09, 2019
Broadway Bank and FHLB Dallas Provide Down Payment Assistance
SAN ANTONIO, TEXAS, January 9, 2019 — The instability of moving from apartment to apartment can bring unnecessary stress to a young family. San Antonio, Texas, mother Skylar Mathews and her husband, Cipriano, wanted to give their 3-year-old son a stable home, but they didn't have the down payment and closing costs.
Ms. Mathews, a full-time nursing student, learned about the Homebuyer Equity Leverage Partnership (HELP) grant – offered by the Federal Home Loan Bank of Dallas (FHLB Dallas) and member institutions – from Habitat for Humanity of San Antonio. She received a $4,500 HELP grant from FHLB Dallas and Broadway Bank, an FHLB Dallas member.
"The opportunity to purchase a home through Habitat for Humanity of San Antonio with the support of the HELP grant has allowed me to go to school full time to pursue a degree in nursing," said Ms. Mathews, who added that without the assistance of the grant she would have had to continue to rent for several more years. "I no longer worry about providing a stable environment for my family."
Habitat for Humanity of San Antonio's mission is to build decent and affordable housing without interest or profit for those in need in the San Antonio community. The organization partners with low-income families, who help build their homes to keep costs down.
Habitat for Humanity of San Antonio Vice President Stephanie Wiese said with the support from programs like HELP, the organization can help more low-income families in the area afford a home.
"We help provide a hand up to hardworking recipients such as Ms. Mathews and we are grateful to our banking partners that help our residents realize the dream of homeownership," said Ms. Wiese.
HELP grants are offered by FHLB Dallas through its member financial institutions, like Broadway Bank, to assist first-time homebuyers with down payments and closing costs on new or existing homes.
"HELP grants are beneficial because they strengthen our relationship with our customers by providing funds to help fill in the gaps and make the dream of homeownership a reality," said Randy Rouse, CIO at Broadway Bank. "We started as a community bank and continue to uphold our dedication to community investment."
Since the program's inception in 2002, HELP grants totaling more than $17.2 million have assisted more than 3,300 families. For 2019, FHLB Dallas has made available through its members $3.75 million available on a first-come, first-served basis. Visit fhlb.com/help to view current availability of HELP funds.
"Aside from helping individual families, HELP also acts as a powerful community investment tool because the first-time homebuyers it assists are making long-term commitments to their communities," said Greg Hettrick, first vice president and director of Community Investment at FHLB Dallas.
Without this grant, Ms. Mathews said that she and her family would have had to work twice as hard to afford the rent.
"Habitat for Humanity of San Antonio and the HELP grant have given my family and me the ability build an affordable home," said Ms. Mathews. "We are finally investing in a home that is truly ours."
About Habitat for Humanity of San Antonio
Habitat for Humanity of San Antonio is an ecumenical, Christian organization working with families in need to build decent and affordable homes without interest or profit. Habitat plans to build 50 homes in 2018. The organization was founded in 1976 as the first U.S. affiliate of Habitat for Humanity International. Habitat has built 1,071 homes since 1976.
About Broadway Bank
Headquartered in San Antonio, Broadway Bank was founded in 1941. It has evolved from a small neighborhood bank into one of the largest independently owned banks in Texas. Today, Broadway Bank continues to function as a privately-owned and operated financial institution offering a full-range of sophisticated financial services, including personal, private, military, business and mortgage banking, and wealth management. With $3.6 billion in assets, the highly rated Bank operates more than 35+ financial centers in the San Antonio and Austin regions. Visit broadway.bank for more information.
About the Federal Home Loan Bank of Dallas
The Federal Home Loan Bank of Dallas is one of 11 district banks in the FHLBank System created by Congress in 1932. FHLB Dallas, with total assets of $73.7 billion as of September 30, 2018, is a member-owned cooperative that supports housing and community investment by providing competitively priced loans and other credit products to approximately 825 members and associated institutions in Arkansas, Louisiana, Mississippi, New Mexico and Texas. For more information, visit fhlb.com.
Federal Home Loan Bank of Dallas