San Antonio Family Becomes First-Generation Homeowners

SAN ANTONIO, July 29, 2016 /PRNewswire-USNewswire/ -- Alejandro Martinez grew up in a family that never owned a home. The experience strengthened his resolve to give his family a place of their own. Yet, the pizza delivery driver and shift leader didn't know how he would save enough for a down payment. That changed when his wife, Phelicia Salas, a student at San Antonio College, read about Habitat for Humanity of San Antonio (HFHSA).

In 2016, HFHSA received grant funding through the Homebuyer Equity Leverage Partnership program (HELP) from the Federal Home Loan Bank of Dallas (FHLB Dallas) and Texas Capital Bank. Mr. Martinez and Ms. Salas were awarded a $4,000 HELP grant, which was applied to the down payment and closing costs of their first home, which they helped build through HFHSA and purchased this year.

"We love coming home every day to water the grass and take care of our house," Ms. Salas said. "Our daughter has made friends in the neighborhood, and she can walk to school."

The family now enjoys a four-bedroom home after years of renting apartments and smaller, more expensive houses.

"I was so excited to pay the first mortgage payment," Mr. Martinez joked. 

Effie Dennison, senior vice president and director of Community Development at Texas Capital Bank, said she has seen the impact of the HELP program in San Antonio.

"The demand for decent affordable housing continues to increase in Texas," she explained. "Texas Capital Bank supports the development of single- and multifamily projects and temporary housing through our membership in FHLB Dallas, and this partnership benefits our communities."

HELP grants are awarded annually on a first-come, first-served basis through FHLB Dallas member institutions, such as Texas Capital Bank, to assist income-qualified, first-time homebuyers with down payment assistance and closing costs.

HFHSA Vice President Stephanie Wiese said programs, such as HELP, are important in achieving the organization's overall mission.

"We help families help themselves," Ms. Wiese said. "Affordable housing programs such as HELP are vital to assisting local families in realizing their homeownership dreams."

The $1 million in 2016 HELP funding made available in January has been exhausted. More than $448,000 in HELP funds assisted 102 families in Texas this year. Texas Capital Bank has awarded $32,000 in HELP grants in 2016 to assist eight income-qualified, first-time homebuyers.

"HELP grants, along with FHLB Dallas' other affordable housing programs, provide our members with a host of tools to really make a difference in their communities," said Greg Hettrick, first vice president and director of Community Investment at FHLB Dallas.    

About Texas Capital Bancshares, Inc.

Texas Capital Bancshares, Inc. TCBI, a member of the Russell 2000® Index and the S&P SmallCap 600®, is the parent company of Texas Capital Bank, a commercial bank that delivers highly personalized financial services to businesses and entrepreneurs. Headquartered in Dallas, the bank has full-service locations in Austin, Dallas, Fort Worth, Houston, and San Antonio.

About Habitat for Humanity of San Antonio

Habitat for Humanity of San Antonio is an ecumenical, Christian organization working in partnership with families in need to build decent and affordable homes without interest or profit.  Habitat families all put in 300 hours of "sweat equity" building their own home and in turn, they purchase their homes with a 0 percent interest, 20-year mortgage. HFHSA was the first U.S. affiliate of Habitat for Humanity and is celebrating its 40^th anniversary this year. The organization has built 968 homes.

About the Federal Home Loan Bank of Dallas

The Federal Home Loan Bank of Dallas is one of 11 district banks in the FHLBank System created by Congress in 1932. FHLB Dallas, with total assets of $54.4 billion as of June 30, 2016, is a member-owned cooperative that supports housing and community development by providing competitively priced loans and other credit products to approximately 850 members and associated institutions in Arkansas, Louisiana, Mississippi, New Mexico, and Texas. For more information, visit fhlb.com.

Contact:

Corporate Communications
Federal Home Loan Bank of Dallas
www.fhlb.com
(214) 441-8445

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SOURCE Federal Home Loan Bank of Dallas