HATTIESBURG, Miss .– (BUSINESS WIRE) – Dec. September 2021–
Eleven Florida and Louisiana residents recently purchased their first home through Habitat for Humanity, thanks in part to a grant from the Homebuyer Equity Leverage Partnership (HELP) from The First, a National Banking Association (The First) based in Hattiesburg, Mississippi , and the Federal Home Loan Bank of Dallas (FHLB Dallas).
This press release contains multimedia. View the full version here: https://www.businesswire.com/news/home/20210922005864/en/
A Louisiana mother, seen here with her son, received a homebuyer equity leverage partnership grant from The First and the Federal Home Loan Bank of Dallas to help with the down payment. (Photo: Business Wire)
Seven residents were from Florida, four from Pensacola, and three from Tallahassee. The other Habitat-sponsored homebuyers were from the Louisiana cities of Abita Springs, Covington, Mandeville, and Slidell. Each received a HELP grant of $ 5,500 and used the funds to make down payments.
HELP, provided by FHLB Dallas through member institutions such as The First, assists income-qualified first-time home buyers with down payment and closing costs.
All homeowners worked with their local Habitat partners who support affordable home ownership through educational and volunteer resources for low-income families.
In total, The First and FHLB Dallas partnership provided these 11 homeowners with $ 60,500 through Habitat.
One of the homebuyers, Bambi Spinks, a mother of two from Abita Springs, said she was living in an RV when she applied for the scholarship. She never thought she could afford to buy a house.
“It feels very good to know that my children and I live in a healthy environment,” she said.
Crystal Scott, director of resource development at Pensacola Habitat, which supported Pensacola homeowners, said the HELP subsidy had a huge impact on their homeowners.
“The program helps our community in so many different ways,” said Ms. Scott. “Some people get to a point where they’re ready to own a home but don’t necessarily have the right tools, education, down payment, or good credit to make their dream come true.”
Michele Lynch, assistant vice president, community development officer at The First, who has paid out $ 117,000 in HELP grants so far this year, said she appreciates the program as it helps long-term tenants become homeowners.
“Thanks to HELP, The First was able to help many first-time buyers during our partnership with FHLB Dallas,” said Ms. Lynch. “The First has used several FHLB Dallas programs in the past to help our communities. Our partnership is twofold, as we are able to invest in our community and at the same time make home ownership possible for many of the clients we serve. “
Greg Hettrick, first vice president and director of community investments at FHLB Dallas, noted the importance of this financial support.
“Buying a home is such a significant achievement for many,” said Mr. Hettrick. “We are honored to be working with The First to open new doors to these new homeowners.”
Ms. Scott added that helping tenants become home buyers is life changing.
“To be able to hand over the keys after they close and to know the impact it will have on their lives is amazing,” she said. “HELP has been beneficial to so many in our community.”
About The First Bancshares Inc.
The First Bancshares, Inc., headquartered in Hattiesburg, Mississippi, is the parent company of The First, a National Banking Association. Founded in 1996 near Hattiesburg, Mississippi. The First has grown rapidly through South Mississippi, South Alabama, Louisiana, Florida and Georgia and offers services that are competitive with those of larger regional banks. The company’s shares trade on the Nasdaq Global Market under the symbol FBMS. Information is available on the company’s website at www.TheFirstBank.com.
Via the Federal Home Loan Bank of Dallas
The Federal Home Loan Bank of Dallas is one of 11 district banks in the FHLBank system, which was founded by Congress in 1932. FHLB Dallas, with total assets of $ 58.6 billion as of June 30, 2021, is a member-owned cooperative that supports housing and community development by providing credit and other credit products at competitive prices to approximately 800 members and affiliates Institutions in Arkansas, Louisiana, Mississippi, New Mexico, and Texas. For more information, please visit our website at fhlb.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210922005864/en/
CONTACT: Corporate Communications
Federal Home Loan Bank of Dallas
fhlb.com
(214) 441-8445
KEYWORD: LOUISIANA MISSISSIPPI FLORIDA TEXAS UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: MEN’S BANKING PROFESSIONAL SERVICES FAMILY PHILANTHROPY CONSUMER HOUSING & REAL ESTATE & REAL ESTATE WOMEN SENIORS FINANCE OTHER PHILANTHROPY
SOURCE: Federal Home Loan Bank of Dallas
Copyright Business Wire 2021.
PUB: 09/22/2021 12:40 p.m. / DISC: 09/22/2021 12:42 p.m.
http://www.businesswire.com/news/home/20210922005864/en
[ad_1]
