Dallas Neighborhood Homes Looks to Broaden Inexpensive Housing

Dallas Neighborhood Homes is a nonprofit agency that provides home loans. Recently, the mortgage servicing provider has begun working with Dallas Area Habitat for Humanity to look for affordable housing solutions. As a result, Dallas Neighborhood Homes will partner with the regional based bank Nexbank to provide up to $50 million dollars in loans to home buyers. The ultimate goal of the partnership is to offer over 100 home loans within the next five years.

Both Dallas Neighborhood Homes and Dallas Area Habitat for Humanity are grateful to Nexbank for making housing more affordable. The money enables low-income residents to obtain home loans and receive counseling to responsibly manage their mortgages. Nexbank has also agreed to pay all the title fees associated with closings.

Nexbank has been in business since 1922, providing banking services in real estate, investment banking, and commercial platforms. Fast, reliable funding is provided to Dallas based individuals looking for personalized solutions for their finances. Nexbank works with government agencies to provide a wide array of lending options to people interested in purchasing a home in Dallas.

The financial service provider Nexbank offers competitive rates and manageable down payment options to perspective home buyers. The size and terms of the loans are adjusted to meet clients’ needs. They also provide loans to commercial warehouses to help businesses succeed.

In the past it was difficult for low income individuals to obtain a home mortgage from a financial institution. Now that Dallas Neighborhood Homes, Dallas Habitat for Humanity, and Nexbank have partnered together, many individuals who previously could not get a home loan will be able to. In addition, these low income home owners can receive counseling to learn strategies for effectively budgeting and paying off their loans on time.

Read more about Nexbank:

http://www.ibanknet.com/scripts/callreports/getbank.aspx?ibnid=usa_3823844

http://www.bankrate.com/rates/safe-sound/memorandums-memos.aspx?fedid=652874