Homeownership is a dream that almost every family has but many fear that they will never be able to achieve, especially if they are low income. This is why Nexbank is working closely with Dallas Neighborhood Homes to help these dreams become a reality for families in the Southern Dallas area. $50 million in loans is being offered by Nexbank so the organization that works with Habitat for Humanity can help families get the mortgage they need in order to own a home. Along with the mortgage services through the Affordable Housing Loan Program, they also educate future homeowners so they know the responsibilities that will come with it in the future.
Dallas has a high rate of homelessness and throughout the United States is one of the regions with the lowest homeownership rates. This is why the efforts made my Nexbank and organizations like Dallas Neighborhood Homes are so important for the community. Mark Tribuna of the Dallas Habitat for Humanity is excited about this partnership as it will help make owning a home affordable for many families in the area. In the next 5 years, they have set a goal to offer at least 100 mortgage loans during each year to the families participating in the Affordable Housing Loan Program. The quality of life for these families will improve making it so their children have a better chance at a good future.
Saving for college is another issue that many families face and Nexbank is also taking action to help with these dreams. They purchased the College Savings Bank recently and are hoping it will allow them to help their clients with more of their financial needs. College Savings Bank is based in Princeton, New Jersey and has been offering college savings programs since they were founded in 1987. Currently, they offer more than 500 of these types of programs. While the terms of the transaction were not disclosed to the public, both companies are looking forward to the opportunities that they believe it will offer. While Nexbank owns the company, College Savings Bank will keep their own branding and operate in much the same way that they had previously.