NexBank has recently announced a partnership with both Dallas Area Habitat for Humanity (DAHH) and Dallas Neighborhood Homes (DNH). All three organizations are working together to help potential homeowners educate themselves on owning a home and providing support through the loan process.
NexBank is funding up to $50 million in loan money over the next five years to support the project and help with expansion. In addition to the home loans, NexBank will pay for the Title costs and up to $2,000 in closing costs for each family. DAHH will be providing financial services counseling in partnership with the DNH.
In return, the DNH will offer first time home owner counseling and is the organization in the partnership that will be offering the home loans to low income families. All of this effort is to help build up certain areas of North Dallas that historically have the lowest population of homeowners in all of Dallas.
The goal of all three organizations is to see 100 low income families become homeowners per year. Having a safe, secure home would help boost struggling families and provide a more secure future for the children.
NexBank is located in the Dallas, Texas, area and they are FDIC members, with assets valued around 3.5 billion. NexBank offers many financial services to all types of members under three different branches: Commercial banking, Mortgage banking, and Institutional services.
Commercial banking deals with lending (real estate and commercial), credit services, treasury management, and agency services such as: escrows, notaries, and letters of credit issued. The Mortgage banking branch deals with many different types of mortgage lending for individuals or businesses. And the last branch is Institutional services. This branch deals with personal banking, financial advising, and lines of credit.
NexBank handles all types of financial needs and has been serving the Dallas area since 1922.