In an effort to improve the community and help individuals enhance their quality of life, the organizations Dallas Neighborhood Homes and Habitat for Humanity have merged to help provide home financing to a number of local residents. The two organizations will look to provide low income residents with more opportunities to easily purchase a home. One of the leading financial institutions in Dallas NexBank will provide assistance with this program. NexBank will offer $50 million to help provide mortgage loans to a number of residents seeking to buy a new home. With the assistance provided by NexBank, both Habitat for Humanity and Dallas Neighborhood Homes will be in position to provide affordable housing to many people in the area.
Along with providing funds for home loans, NexBank will also provide coverage of closing costs and title fees. For every mortgage it issues, the bank will provide $2,000. As a result, prospective homeowners in the area will have an easier time covering the costs of buying a home. The alliance between NexBank, Dallas Neighborhood Homes and Habitat for Humanity will work towards addressing one of the main issues of the Dallas Metro area. Today, Dallas has one of the lowest rates of homeownership in the nation. Therefore, this new program by Dallas Neighborhood Homes will help increase homeownership in the city and address this important issue of the community.
NexBank completed a key merger in 2015 with College Savings Bank. The financial institution acquired College Savings Bank in an effort to expand its college savings programs. The two financial institutions will have the means to reach out to more consumers and help them more easily finance college. Executives of NexBank are very pleased about this acquisition and believe that it will benefit both parties in the future. With this new merger, NexBank will be able to expand its products and services while College Savings Bank will have the means to work with a highly reputable financial institution in Texas. As a result, of this recent merger, consumers will be able to have more options available when it comes to saving up for future college educational expenses.