Federal Home Loan Bank Announces $2M in Funding to Assist First-Time Homebuyers and Special Needs Households

DALLAS, Jan. 20, 2012 (GLOBE NEWSWIRE) — The Federal Home Loan Bank of Dallas (Bank) is pleased to announce it is making available $1 million in Homebuyer Equity Leverage Partnership (HELP) grants and $1 million in Special Needs Assistance Program (SNAP) grants in 2012.

HELP is a program funded through the Bank’s Affordable Housing Program (AHP) under which the Bank disburses funds through its member institutions that assist low- to moderate-income, first-time homebuyers with down payment and closing costs. The Bank provides up to $5,000 to assist individual homebuyers.

SNAP, also an AHP set-aside program, provides grants through the Bank’s member institutions that assist special needs households with home rehabilitation and modification costs. Special needs households can receive up to $5,000 in SNAP funds.

Grant funds are available until they are exhausted or December 31, 2012, whichever comes first.

“The Bank is pleased to again offer HELP and SNAP grants in 2012,” said Bank President and CEO Terry Smith. “HELP and SNAP continue to be among the Bank’s most heavily utilized grant programs, and we are pleased to be able to assist our members in meeting the housing and home modification needs in their communities.”

Please refer to the Community Investment section of the Bank’s website at fhlb.com/community for the applicable funding manuals, and the Bank’s Implementation Plan, which provides specific details on all of the Bank’s grant programs.

About the Federal Home Loan Bank of Dallas

The Federal Home Loan Bank of Dallas is one of 12 district banks in the FHLBank System created by Congress in 1932.  FHLB Dallas, with total assets of $31.4 billion as of September 30, 2011, is a member-owned cooperative that supports housing and community development by providing competitively priced loans and other credit products to more than 900 members and associated institutions in Arkansas, Louisiana, Mississippi, New Mexico, and Texas.  For more information, visit the FHLB Dallas website at fhlb.com.

The Federal Home Loan Bank of Dallas logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=3013
 

CONTACT: Corporate Communications          Federal Home Loan Bank of Dallas          www.fhlb.com          (214) 441-8445

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