The two nonprofit organizations Dallas Neighborhood Homes and Habitat for Humanity look to help local residents get adequate housing in the local community. Recently, both organizations have looked to introduce a program to help with mortgage financing. The two organizations will look to provide numerous mortgages for Dallas area residents in the near future. They are looking to significantly increase the mortgage loans issued in an effort to help many people purchase a home. Since they need a considerable amount of funding, they will get assistance from one of the most reputable financial institution in the Dallas area. NexBank has offered to provide tens of millions of dollars for this new program. As a result, both Dallas Neighborhood Homes and Habitat for Humanity will be able to help individuals and families improve their standard of living.
NexBank has decided to not only offer mortgage loan financing, but also funding to help cover closing costs. The bank has agreed to pay for both closing costs and title fees associated with a given home purchase. It will provide $2,000 for every mortgage given to residents. This will help these individuals and families get the financial assistance they need in order to complete the purchase of a new home. NexBank, Dallas Neighborhood Homes and Habitat for Humanity have all collaborated to address one of the most significant issues of the Dallas area. The city and area has a very low rate of homeownership. As a result, this program will help address this situation by allowing many residents to purchase affordable housing more frequently.
In recent years, NexBank has been involved in college savings plans as well. The bank recently acquired College Savings Bank in 2015. This acquisition will allow the bank to have rights to a number of college savings programs. As a result, they will be able to help more customers find ways to save up for college. The executives of NexBank have stated that this new merger will help both NexBank and College Savings Bank achieve their unique goals. Both will be able to provide more services to customers as well as enhance their local reputation.