At the beginning of September 2016, Nexbank, which is a Dallas-based local bank, has announced its release of its Affordable Housing Loan Program. In partnership of the Dallas Area Habitat for Humanity, the new Housing Loan’s goal is to make 100 or more loans over the next five years to low-income families moving into homes within several zip codes in the southern Dallas area.
However, the program does not aim to simply provide the families with mortgage loans. They will also be providing financial counseling. The counseling will be offered through the Habitat for Humanity services. Nexbank will also be covering title fees through the area’s Habitat for Humanity and be paying up to $2,000 in closing costs for each loan.
Nexbank has been in business since 1922 and is now worth over $3.5 billion. Aside from their mortgage banking, they also provide commercial and investment banking. What makes them unique is that unlike almost any other bank, they provide both sophisticated and custom-tailored solutions to meet all of their customers’ needs.
As of February 2016, Nexbank’s assets total values at approximately $3,500 while their total deposits rounded up to just over $2,500. Over 50 percent of their aggregated loan profiles have gone to single families as opposed to commercial real estate (13 percent) and commercial and industrial (34 percent). Their success is ensured to continue as time goes on.