HARVEY, La., Sept. 12, 2011 (GLOBE NEWSWIRE) -- At 79, Carrie Taylor has fulfilled a lifelong dream.
"I have always wanted to own my own home before I die," said Ms. Taylor. With the help of a $7,000 Homebuyer Equity Leverage Partnership (HELP) program grant from First NBC Bank and the Federal Home Loan Bank of Dallas (FHLB Dallas), Ms. Taylor has been able to make her dream a reality.
She's lived in her Harvey, Louisiana, home for about four months, and says it would not have been possible without the assistance of the HELP grant.
"It helped me get into my home," she said. "I'm enjoying my house, and I'm thankful for the grant because I wouldn't have been able to move into my home without it."
HELP grants assist income-qualified, first-time homebuyers with down payment and closing costs. The funds are available through FHLB Dallas member institutions, such as First NBC Bank. FHLB Dallas issued $37,000 in HELP funds through First NBC Bank in 2011.
"First NBC is a community bank, which is totally focused on our community and how to make it better," said First NBC Bank President and CEO Ashton J. Ryan, Jr. "Helping our citizens to achieve the American Dream of homeownership is part of our commitment to our community."
In 2011, FHLB Dallas awarded $1.7 million in HELP funds through its member institutions to assist 309 families with their down payments and closing costs, including nearly $226,000 to assist 41 Louisiana families. HELP grant recipients can receive up to $5,000 in grant money. The amount may increase to $7,000 if a member, or another mortgage lender, contributes at least $350 toward costs associated with providing the mortgage to the homeowner.
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 June 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