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HELP Subsidy Aids New Mexico Resident with Purchase of Her First Home

Victoria Piñon was just 26 years old when she bought her first home with assistance from the Homebuyer Equity Leverage Partnership (HELP), a Federal Home Loan Bank of Dallas (FHLB Dallas) program in which members provide subsidies to help first-time homebuyers with down payment assistance and closing costs.

Ms. Piñon, a Bank Secrecy Act analyst for Lea County State Bank, said she had been working in customer service at Lea County State Bank at the time she heard about HELP and applied.

FHLB Dallas disburses HELP funds to members on a first-come, first-served basis, one homebuyer at a time.

Ms. Piñon said she bought a 1,200-square-foot, three-bedroom home with the assistance of a $10,000 HELP subsidy.

“I had been living with my parents for about two years while saving money for a house. Eventually, I started looking,” she said. “HELP assisted with both the down payment and closing costs, which helped out a lot, particularly since I had to buy a new refrigerator, washer and dryer.”

Lea County State Bank Senior Vice President Dickie Wall said the bank has assisted multiple new homeowners over the past few years amid rising costs.

“One of the biggest barriers to homeownership is saving for the down payment and closing costs,” Mr. Wall said. “The assistance provided through HELP reduces or removes that obstacle.”

Greg Hettrick, first vice president and director of Community Investment at FHLB Dallas, said FHLB Dallas has members throughout its five-state District participating in HELP and would love to see more give it a try.
“With mortgage prices rising along with home prices, HELP can make the difference in a first-time homeowner’s ability to afford a home,” he said. “HELP allows our members to make a positive impact on their communities.”
For 2022, FHLB Dallas set aside $4 million for HELP, available through its members on a first-come, first-served basis.

Visit to view the current availability of HELP funds.

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