October 3, 2023

$8,000 Subsidy Empowers A Mississippi Resident To Buy a Home

Desire Brown‘s dream of becoming a homeowner has become reality, thanks to a generous $8,000 Homebuyer Equity Leverage Partnership (HELP) subsidy, according to a press release.

The Federal Home Loan Bank of Dallas (FHLB Dallas) awarded the funds through one of its member institutions, Citizens National Bank.

As part of its commitment to affordable housing, FHLB Dallas earmarked $6.5 million of its 2023 Affordable Housing Program funds for HELP. This program is designed to provide essential support in homeownership from income-qualified, first-time homebuyers, assisting them with crucial down payments and closing costs.

For Brown, a 34-year-old medical assistant who lives in Jackson, Mississippi, this subsidy was a game-changer. “Although I’ve been saving for a home for a long time, Citizens National Bank and HELP gave me the confidence to finally enter the market and make a decision,” she said.

The challenges of renting and living in less-than-ideal neighborhoods were the driving force behind her pursuit of homeownership.

Brown secured her initial mortgage through Citizens National Bank and used the HELP subsidy to facilitate the down payment and cover closing costs.

“We wanted to be there for her as she took this significant step and much of it was made possible by the HELP subsidy,” said Tyeisha Smith, community development officer at Citizens National Bank

Without the support of Citizens National Bank and HELP, Brown said owning a home would have remained a distant aspiration. Since 2018, Citizens National Bank has leveraged HELP funds to assist nearly 50 Mississippi residents in achieving the milestone of homeownership.

“We strive to provide affordable and flexible funding to our members through programs like HELP and other subsidies. Through their utilization of the program, Citizens National Bank is a great case study in leveraging HELP to meet customers’ housing needs,” said Greg Hettrick, senior vice president and Director of Community Investment at FHLB Dallas.

Visit fhlb.com/help for more information.